MISSISSIPPI LEGISLATURE

1999 Regular Session

To: Local and Private

By: Senator(s) Moffatt, Robertson

AN ACT TO AUTHORIZE THE BOARD OF SUPERVISORS OF JACKSON COUNTY, MISSISSIPPI, TO ESTABLISH A MITIGATION BANK UTILIZING ANY COUNTY-OWNED PROPERTY NO LONGER NEEDED FOR THE OPERATION OF THE COUNTY; TO AUTHORIZE A CERTAIN PIECE OF PROPERTY TO BE UTILIZED IN SUCH MITIGATION BANK UNDER CERTAIN CIRCUMSTANCES; TO AUTHORIZE THE BOARD OF SUPERVISORS OF JACKSON COUNTY TO EXPEND FUNDS TO IMPROVE THE MARKETABILITY OF PROPERTY AS A MITIGATION BANK OR FOR SALE AS WETLANDS MITIGATION LAND; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. For the purposes of this act:

(a) "Mitigation bank" means a managed site where wetlands and/or other aquatic resources are restored, created, enhanced, or in exceptional circumstances, preserved expressly for the purpose of providing compensatory mitigation due to or in advance of authorized impacts to similar resources.

(b) "Mitigation credit" means a unit of measure representing the accrual or attainment of aquatic functions at a mitigation bank.

SECTION 2. The Board of Supervisors of Jackson County, Mississippi, is hereby authorized and empowered to set up, own, operate and maintain a mitigation bank with any county-owned property no longer needed for the operation of the county and to sell mitigation credits in said bank provided that such board finds that:

(a) The sale of such credits is for fair market value; and

(b) The sale of such credits will promote and foster the development and improvement of the community or the economic or industrial welfare thereof.

SECTION 3. The Board of Supervisors of Jackson County may make any agreements required with any federal and/or state regulatory agencies in furtherance of the provisions of this act.

SECTION 4. The Board of Supervisors of Jackson County is specifically authorized and empowered to utilize the following described real property owned by Jackson County, Mississippi, as a mitigation bank or to sell the subject property as mitigation lands provided that the sum of Four Hundred Eighty Thousand Dollars ($480,000.00) is replaced or is reserved to be replaced into the proceeds of the General Obligation Bonds (Port Road Improvement Project), Series 1993 of Jackson County, Mississippi, dated September 1, 1993, in the aggregate principal amount of Four Million Dollars ($4,000,000.00). Such property is described as follows:

Governmental Lots 1, 2, 5, 6, 7, 8, 9, 10, 11 and 12;

the North One-Half (N 1/2) of Governmental Lot 3; and

the South One-Half (S 1/2) of Governmental Lot 4, all

situated in Section 8, Township 7 South, Range 4 West,

Jackson County, Mississippi, less and except, however,

all oil, gas and mineral rights which have been

reserved by prior owners, and subject to a right-of-way easement of the L&N Railroad.

The balance of any proceeds generated from operation of a mitigation bank or from sale of the subject property shall be paid into the general county fund.

SECTION 5. The Board of Supervisors of Jackson County is hereby authorized and empowered to expend from funds otherwise available to such board such sums as are reasonable and necessary to improve the marketability of property as a mitigation bank or for sale as wetlands mitigation land and to employ any professionals and expend any sums for any purpose reasonable and necessary to carry out the provisions of this act.

SECTION 6. This act shall take effect and be in force from and after its passage.