MISSISSIPPI LEGISLATURE
2000 Regular Session
To: Public Property; Finance
By: Senator(s) Horhn, Frazier, Michel, Harden, White (29th), Johnson (19th), Simmons, Walls, Little, Williamson, Ross, Burton, Dawkins, Harvey
Senate Bill 3169
AN ACT TO AUTHORIZE THE MISSISSIPPI FAIR COMMISSION TO GROUND LEASE CERTAIN STATE-OWNED REAL PROPERTY TO A PRIVATE COMPANY FOR THE PURPOSE OF THE CONSTRUCTION OF A SPORTS ARENA; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) The Mississippi Fair Commission, acting through the Department of Finance and Administration, in its discretion, is authorized to ground lease to Mississippi Indoor Sports, LLC, a Mississippi limited liability company, for the purpose of the construction of a multi-purpose sports arena the following described state-owned real property located in Hinds County, Mississippi:
A parcel of land consisting of approximately four (4.0) acres located in what is commonly known as the "Mississippi State Fairgrounds," the Mississippi State Fairgrounds being located in the Southwest Quarter of Section 2 and the Southeast Quarter of Section 3, Township 5 North, Range 1 East, First Judicial District of Hinds County, Mississippi.
(2) The ground lease authorized in this section, may be for such consideration as determined appropriate by the Mississippi Fair Commission, acting through the Department of Finance and Administration, and may be for a term not to exceed fifty (50) years.
(3) In and for the consideration to be provided under the ground lease, the Mississippi Fair Commission, acting through the Department of Finance and Administration, in its discretion, is authorized to grant, as part of and for the term of the such ground lease, to Mississippi Indoor Sports, LLC, a Mississippi limited liability company, one (1) or more easements for vehicle and pedestrian ingress and egress, for vehicle parking and for such other purposes necessary and appropriate for the construction, operation and use of the multi-purpose sports arena, all on such terms and conditions determined to be appropriate by the Mississippi Fair Commission, acting through the Department of Finance and Administration, and on and over the following described state-owned real property located in Hinds County, Mississippi:
The land commonly known as the "Mississippi State Fairgrounds," the Mississippi State Fairgrounds being located in the Southwest Quarter of Section 2 and the Southeast Quarter of Section 3, Township 5 North, Range 1 East, First Judicial District of Hinds County, Mississippi.
SECTION 2. This act shall take effect and be in force from and after its passage.