House Bill 866

AN ACT TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION, ACTING ON BEHALF OF THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF HIGHER LEARNING, TO SELL AND CONVEY PARCELS OF CERTAIN STATE-OWNED REAL PROPERTY AND ANY IMPROVEMENTS THEREON UNDER THE POSSESSION AND CONTROL OF THE UNIVERSITY OF SOUTHERN MISSISSIPPI GULF COAST, LOCATED IN THE CITY OF PASS CHRISTIAN, HARRISON COUNTY, MISSISSIPPI; 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 Board of Trustees of State Institutions of Higher Learning, is authorized to sell and convey parcels of certain state-owned real property and any improvements thereon under the possession and control of the University of Southern Mississippi Gulf Coast, located in the City of Pass Christian, Harrison County, Mississippi, being in Harrison County, Mississippi, and more particularly described as follows:

TOGETHER with all improvements situated thereon and all appurtenances thereunto belonging or in anywise appertaining, and also including all riparian, littoral and aquatic rights thereunto belonging, or in anywise appertaining.

(2) The real property described in subsection (1) of this section shall not be sold for less than the current fair market value as determined by the averaging of at least two (2) appraisals by qualified appraisers, one (1) of which who shall be selected by the Department of Finance and Administration, and both of which shall be certified and licensed by the Mississippi Real Estate Appraiser Licensing and Certification Board. The real property described in subsection (1) may only be sold to a nonprofit entity located adjacent to that real property and with whom the university has begun negotiations to sell such real property.

(3) The State of Mississippi shall retain all mineral rights to the real property sold under this section.

(4) Proceeds from the sale of the real property described in subsection (1) of this section shall be deposited into a special fund in the State Treasury and shall be expended only for the benefit of the University of Southern Mississippi Gulf Coast.

SECTION 2. This act shall take effect and be in force from and after July 1, 2012.