SB3048_H_Cmte_Amend

SECTION 1. (1) Acting on behalf of the Department of Finance and Administration, the Mississippi Development Authority, subject to the provisions of subsection (6) and the approval of the Secretary of State, is authorized to lease for a period not to exceed sixty (60) years with an option to renew not to exceed twenty (20) years all of the land, formerly known as the "Old School for the Blind," located north of Eastover Drive in the City of Jackson, Hinds County, Mississippi, and more particularly described as follows:

Starting at a concrete monument that is the SE corner of the SW 1/4 of the SW 1/4 of Section 24, T6N, R1E in the First Judicial District, Hinds County, Mississippi, run thence N 00°-01' E along the line between the E 1/2 and the W 1/2 of the SW 1/4 of Section 24, T6N, R1E for a distance of 194.40 feet to a point on the north line of Eastover Drive, as said drive is now laid out and improved, the point of beginning.

Run thence N 56°-46' W along said north line of said Eastover Drive for a distance of 3.02 feet to the P.C. of a curve to the left with a radius (chord) of 5769.65 feet (angle of curve was omitted, 04°-00'-0r"); Run thence along said curve and said north line of Eastover Drive for a distance of 402.91 feet to the P.T. of said curve; Run thence N 60°-46' W along said north line of said Eastover Drive for a distance of 684.92 feet to a point on the east right-of-way line of U.S. Highway No. 51, as said highway is now laid out and improved, Run thence N 29°-14' E along said east right-of-way line of U.S. Highway No. 51 for a distance of 1422.24 feet to a point; Run thence N 87°-06' E for a distance of 251.28 feet to a point on the line between the E 1/2 and the W 1/2 of the SW 1/4 of Section 24, T6N, R1E, and also being a point on the south line of share 1 of the Mosal partition; Run thence S 00°-01' W along said line between the E 1/2 and the W 1/2 of the SW 1/4 of Section 24, T6N, R1E for a distance of 1796.17 feet to the point of beginning.

All the above described land being situated in the W 1/2 of the SW 1/4 of Section 24, T6N, R1E in the First Judicial District of Hinds County, Mississippi, and being wholly within the corporate limits of the City of Jackson and containing 22.822 acres.

(2) (a) The property described in subsection (1) shall be leased for private redevelopment to result in the highest and best use as determined by the Mississippi Development Authority and to ensure that the property is used in a manner as approved by the State Board of Education that will not interfere with the operation of the Mississippi School for the Blind or the Mississippi School for the Deaf. The Mississippi Development Authority is authorized to negotiate all aspects of the lease, and final execution of the lease shall be subject to the approval of the Secretary of State.

(b) It is the intent of the Legislature that such property will be leased to a private developer for the benefit of creating value while also preserving the local environment, promoting growth in the area and generating a constant revenue stream for the State of Mississippi.

(c) The Mississippi Development Authority is authorized to make such terms and agreements as may be reasonably necessary to effect such intent to ensure a fair and equitable return to the state, and the lease shall contain a provision requiring that the lessee construct a new residence for the Superintendent of the Mississippi School for the Blind and a new storage and building maintenance facility on the grounds of the new campus for the school.

(d) The lessee of the property shall be allowed to sublease all or a portion of such property under the terms and conditions agreed to by the Mississippi Development Authority.

(3) All lease and rental monies from the lease authorized in this section shall be deposited into a special fund, which is created in the State Treasury. Monies in the special fund shall be disbursed by the Department of Finance and Administration, to the State Board of Education, for the sole benefit of the Mississippi School for the Blind and the Mississippi School for the Deaf. Unexpended amounts remaining in the special fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned on amounts in the special fund shall be deposited to the credit of the special fund.

(4) Oil, gas and mineral rights in the property shall be reserved to the State of Mississippi, and no provision of the lease may provide otherwise.

(5) Nothing in this section shall be construed to authorize the sale or transfer of title to the property described in subsection (1).

(6) There is created an advisory committee to the Mississippi Development Authority for the lease of the property described in subsection (1), which shall be composed of the following members:

(a) The respective chairmen of the Public Property Committees and Education Committees of the House of Representatives and the Senate;

(b) One (1) member of the House of Representatives who resides in Hinds County, to be appointed by the Speaker of the House; and

Before selecting the private developer to which to lease the property described in subsection (1), and while negotiating the terms of the lease with the private developer that has been selected, the Mississippi Development Authority shall consult with the advisory committee and consider any suggestions and recommendations made by the advisory committee regarding the lease of the property.

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