House Bill 837

AN ACT TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO PURCHASE CERTAIN REAL PROPERTY LOCATED WITHIN THE CAPITOL COMPLEX IN THE CITY OF JACKSON, HINDS COUNTY, MISSISSIPPI, KNOWN AS THE FORMER "WRIGHT AND FERGUSON FUNERAL HOME"; AND FOR RELATED PURPOSES.

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

SECTION 1. (1) The Department of Finance and Administration is authorized to purchase certain real property, and any improvements thereon, located within the Capitol Complex in the City of Jackson, Hinds County, Mississippi, known as the former "Wright And Ferguson Funeral Home," and being more particularly described as follows:

A certain block of land, and any improvements thereon, bounded by George Street to the North, as now laid out and in use; Lamar Street to the West, as now laid out and in use; High Street to the South, as now laid out and in use; and West Street to the East as now laid out and in use.

(2) The real property and improvements described in subsection (1) of this section shall not be purchased for an amount not greater than the current fair market value as determined by the average of two (2) appraisals by qualified appraisers, one (1) of whom shall be selected by the Department of Finance and Administration, and both of whom shall be certified and licensed by the Mississippi Real Estate Appraiser Licensing and Certification Board.

(3) The Department of Finance and Administration may correct any discrepancies in the legal description of the property provided in this section.

(4) In acquiring ownership of the property described in subsection (1) of this section, the state shall acquire all interest in the mineral rights in the property, which shall be retained by the state in any subsequent agreement to sell or lease the property once acquired under the provisions of this act.

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