MISSISSIPPI LEGISLATURE

2001 Regular Session

To: Public Property; Appropriations

By: Senator(s) Jackson

AN ACT TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO PURCHASE A CERTAIN PARCEL OF REAL PROPERTY LOCATED NEAR INTERSTATE 20 IN THE CITY OF JACKSON, HINDS COUNTY, MISSISSIPPI, ALSO KNOWN AS THE ALLSTATE INSURANCE OFFICE COMPLEX; AND FOR RELATED PURPOSES.

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

SECTION 1. The Department of Finance and Administration, upon meeting the requirements of Section 29-1-1, may purchase a certain parcel of real property located near Interstate 20 in the City of Jackson, Hinds County, Mississippi, also known as the Allstate Insurance Office Complex. The Department of Finance and Administration may have the parcel of property surveyed.

(2) The real property described in subsection (1) of this section shall be purchased for not more than the current fair market value as determined by the averaging of at least two (2) appraisals by qualified appraisers who shall be selected by the Department of Finance and Administration and shall be certified and licensed by the Mississippi Real Estate Appraiser Licensing and Certification Board.

(3) The Department of Finance and Administration may obtain appraisals of the property, abstracts and surveys and engage the services of attorneys to conduct the transaction described in this section. The department may obtain title insurance on the real property if it determines that the best interest of the department would be served.

SECTION 2. This act shall take effect and be in force from and after its passage.