Bill Text | History of Actions | Background | Title |
Description: School Property Development Act; create.
Bill Text: [Introduced]
| 1 | 01/17 (S) Referred To Education;Finance | |
| 2 | 01/27 (S) DR - TSDP: ED To FI | |
| 3 | 02/01 (S) Died In Committee |
| Effective date | Passage | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Three/Fifths |
Senate Committees:
Principal Author: Chaney
Code Sections: A 037-0007-0301, A 037-0007-0471, A 037-0007-0473, A 037-0007-0475, A 037-0007-0477, A 037-0007-0479, A 037-0007-0481, A 037-0007-0483
Title: AN ACT RELATING TO SURPLUS SCHOOL PROPERTY TO BE KNOWN AS THE "SCHOOL PROPERTY DEVELOPMENT ACT OF 2005"; TO AMEND SECTION 37-7-301, MISSISSIPPI CODE OF 1972, TO ALLOW SCHOOL BOARDS TO CONTRACT WITH FINANCIAL INSTITUTIONS TO ALLOW THE WITHHOLDING OF FUNDS BY STATE AGENCIES WITH RESPECT TO THE ISSUANCE OF BONDS, NOTES OR OTHER OBLIGATIONS, TO ALLOW THE WITHHOLDING OF FUNDS BY STATE AGENCIES IN THE EVENT OF DEFAULT BY A LOCAL SCHOOL BOARD; TO AUTHORIZE A SCHOOL BOARD TO ACCEPT THE SAME TYPE GOOD FAITH DEPOSIT OR BID BOND OR BID SURETY THAT MAY BE ACCEPTED BY THE STATE OR OTHER POLITICAL SUBDIVISIONS; TO AUTHORIZE SCHOOL BOARDS TO CONTRACT WITH UNIVERSITIES, COLLEGES AND OTHERS FOR THE JOINT OPERATION OF ECONOMIC DEVELOPMENT PROJECTS; TO AUTHORIZE A SCHOOL BOARD TO PLEDGE REVENUES RECEIVED PURSUANT TO SECTIONS 37-7-471 THROUGH 37-7-483, MISSISSIPPI CODE OF 1972, FOR THE REPAYMENT OF NOTES AND OTHER OBLIGATIONS; TO AMEND SECTION 37-7-471, MISSISSIPPI CODE OF 1972, TO ALLOW A SCHOOL DISTRICT TO RETAIN AN UNDIVIDED INTEREST IN PROPERTY DISPOSED BY THE SCHOOL BOARD IF IT MAY YIELD A HIGHER LONG-TERM ECONOMIC BENEFIT; TO AMEND SECTION 37-7-473, MISSISSIPPI CODE OF 1972, TO ALLOW SCHOOL PROPERTY TO BE USED AS PART OF DEVELOPMENT ACTIVITIES; TO AMEND SECTION 37-7-475, MISSISSIPPI CODE OF 1972, TO ALLOW CONVEYANCES TO INCLUDE A RETENTION OF A PARTIAL INTEREST BY THE SCHOOL BOARD; TO AMEND SECTION 37-7-477, MISSISSIPPI CODE OF 1972, TO MAKE REVERSION OF INTERESTS DISCRETIONARY IF THE SCHOOL BOARD RETAINS A PARTIAL INTEREST IN THE PROPERTY; TO AMEND SECTION 37-7-479, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A REVERTER IS DISCRETIONARY IF THE SCHOOL BOARD RETAINS A PARTIAL INTEREST IN THE PROPERTY; TO AMEND SECTION 37-7-481, MISSISSIPPI CODE OF 1972, TO ALLOW SCHOOL BOARDS TO CONTRACT WITH OTHER GOVERNMENTAL ENTITIES IN CONFORMITY; TO AMEND SECTION 37-7-483, MISSISSIPPI CODE OF 1972, TO CLARIFY LEGISLATIVE INTENT WITH RESPECT TO DEVELOPMENT OF SCHOOL PROPERTY; AND FOR RELATED PURPOSES.
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