Senate Bill NO. 3085

By Senator(s) Mettetal

SECTION 2. (1) The Department of Finance and Administration may enter into a purchase contract or lease-purchase agreement for the acquisition of certain land and building located at the intersection of Highways 45 and 82 in the City of Columbus, Lowndes County, Mississippi for the purpose of consolidating state agencies at a common location, such land and building also known as the "Old Sack and Save Building." Before entering into any purchase contract or lease-purchase agreement, the department must determine that the purchase contract or lease-purchase agreement will be economically advantageous to the State of Mississippi and that any consolidation of agencies at a common location will not impair or impede the function of an agency in such location. The Department of Finance and Administration shall not pay an amount more than ninety percent (90%) of the fair market value of the property to be acquired in any such district. The fair market value shall be determined by taking the average of three (3) appraisals, one (1) to be performed by the Department of Finance and Administration, one (1) to be performed by the State Auditor and one to be performed by an appraiser selected by the Department of Finance and Administration.