House Bill 1403

AN ACT TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION, ACTING ON BEHALF OF THE DEPARTMENT OF ARCHIVES AND HISTORY, TO EXTINGUISH THE PRESERVATION DEED OF EASEMENT ON THE HISTORIC CORINTH MACHINERY BUILDING, LOCATED IN THE CITY OF CORINTH, ALCORN COUNTY, MISSISSIPPI, SUBJECT TO CERTAIN CONDITIONS; AND FOR RELATED PURPOSES.

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

SECTION 1. (1) The Department of Finance and Administration, acting on behalf of the Department of Archives and History, is authorized to extinguish the preservation deed of easement on the historic Corinth Machinery Building, located in the City of Corinth, Alcorn County, Mississippi, subject to the conditions of subsection (2). The easement is more particularly described as having been:

Granted on May 17, 2002, as an easement for the preservation of the Corinth Machinery Building, granted in perpetuity to the Mississippi Department of Archives and History by one, David Campbell and one, Chris Chain, Partners d/b/a Camp-Chain, a Partnership, their successors and assigns, for the purpose of protecting the public's investment in the preservation of said building.

Said easement being granted to the Mississippi Department of Archives and History in consideration of a Certified Local Government grant in the amount of Two Thousand Five Hundred Dollars ($2,500.00) awarded to the City of Corinth and Camp-Chain Partnership for repairs to the Corinth Machinery Building; and a second grant to the City of Corinth in 2010 in the amount of Two Thousand One Hundred Sixty Dollars ($2,160.00) for additional investigation of said historic structure; and

(2) The preservation deed of easement on the historic Corinth Machinery Building property described in subsection (1) of this section shall not be extinguished by the Department of Finance and Administration, acting on behalf of the Mississippi Department of Archives and History, unless and until the Old Corinth Machinery, LLC, repays the publicly funded grant in the amount of Four Thousand Six Hundred Sixty Dollars ($4,660.00), with interest, to the Mississippi Landmark Grant Fund for the benefit and preservation of other historic properties.

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