House Bill NO. 1743

By Representative(s) Chaney, Flaggs, Reynolds

AMEND by inserting the following language at the end of line 12:

"If in the exercise of authority granted under this act, the City of Vicksburg leases facilities and the property on which the facilities are located to a tax-exempt nonprofit corporation under the authority of this section, the city may transfer the facilities and property to the nonprofit corporation for a nominal consideration at the end of the lease period. The deed or other instrument of conveyance of the facilities and property shall contain a reverter clause providing that title will revert to the city if the facilities and property cease to be used for the purposes for which they were used at the time they were transferred to the nonprofit corporation."