House Bill 1440

AN ACT TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO LEASE CERTAIN REAL PROPERTY FROM THE JACKSON MUNICIPAL AIRPORT AUTHORITY AND TO PURCHASE AN AIRPLANE HANGAR LOCATED ON THAT PROPERTY FROM WORLDCOM, INCORPORATED; AND FOR RELATED PURPOSES.

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

SECTION 1. (1) The Department of Finance and Administration, in its discretion, may enter into a lease agreement with Jackson Municipal Airport Authority for the following described real property located in Rankin County, Mississippi:

A Parcel of land situated in the Southwest Quarter (SW 1/4) of Section 2, Township 5 North, Range 2 East, Rankin County, Mississippi, and being more particularly described as follows:

Commence at a point marked by a nail in the pavement on the centerline at the South edge of Runway 15L-33R at the Jackson Municipal Airport (Allan C. Thompson Field) in Section 2, Township 5 North, Range 2 East, Rankin County, Mississippi, at grid coordinates based on the Mississippi State Plane Coordinate System, West Zone of North 657,142.40 and East 582,177.83; thence run South 43°58'48" West, 1149.55 feet to a set PK nail;

THENCE run South 22°00'00" East, 300.00 feet to a set PK nail and THE POINT OF BEGINNING having coordinates of North 656,222.49, and East 581,417.04;

THENCE continue South 22°00'00" East, 250.00 feet to a set PK nail;

THENCE run South 68°00'00" West, 281.40 feet to a set 1/2" rebar;

THENCE run North 22°00'00" West, 250.00 feet to a set 1/2" rebar;

THENCE run North 68°00'00" East, 281.40 feet to THE POINT OF BEGINNING, containing 70,350 square feet or 1.82 acres, more or less.

(2) The lease authorized in this section may be for such consideration and on such terms and conditions as determined appropriate and as may be agreed upon by the Department of Finance and Administration and the Jackson Municipal Airport

Authority, and may be for a term not to exceed fifty (50) years.

SECTION 2. The Department of Finance and Administration, in its discretion, may purchase from Worldcom, Incorporated, an airport hangar of approximately sixteen thousand three hundred forty-five (16,345) square feet in size located on the real property described in Section 1 of this act, for a fair market price to be determined by a professional property appraiser selected by the Department of Finance and Administration and certified and licensed by the Mississippi Real Estate Appraiser Licensing and Certification Board and having the designation of Member Appraisal Institute. The purchase may also include the above ground jet fuel storage tank system and any equipment on the premises used in connection with the care, upkeep and maintenance of the hanger, airplanes and appurtenant facilities.

SECTION 3. This act shall take effect and be in force from and after its passage.