Senate Bill NO. 2745

By Representative(s) Committee

SECTION 1. (1) The Department of Finance and Administration, upon meeting the requirements of Section 29-1-1, may sell and convey certain state-owned real property located on North State Street in the City of Jackson, Hinds County, Mississippi, being more particularly described as follows:

PARCEL ONE: Tax Parcel 429-10-2 of the Tax Assessor's

Office of Hinds County, Mississippi.

PARCEL TWO: Not to exceed one (1) acre located in

the northern portion of Tax Parcel 429-10 of the Tax Assessor's Office of Hinds County, Mississippi

(bordering Tax Parcel 429-10-2 described above).

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 sold for not less 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) Any funds received by the State of Mississippi for the sale and conveyance of the real property described in subsection (1) of this section shall be used first to reimburse the Department of Finance and Administration for any costs incurred by the department regarding the sale and conveyance, and the remaining funds from shall be deposited into the State General Fund.

(4) The State of Mississippi shall retain all mineral rights to the real property sold and conveyed pursuant to this section.

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

AN ACT TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO SELL AND CONVEY CERTAIN STATE-OWNED REAL PROPERTY LOCATED ON NORTH STATE STREET IN THE CITY OF JACKSON, HINDS COUNTY, MISSISSIPPI; AND FOR RELATED PURPOSES.