House Bill 26

AN ACT TO AMEND SECTION 39-17-9, MISSISSIPPI CODE OF 1972, TO PROVIDE THE DEPARTMENT OF FINANCE AND ADMINISTRATION WITH THE AUTHORITY TO RENEW THE EXISTING LEASE FOR THE MISSISSIPPI SPORTS HALL OF FAME AND DIZZY DEAN MUSEUM FOR A TERM NOT TO EXCEED 20 YEARS; TO AUTHORIZE THE DEPARTMENT TO ENTER INTO ANY SUBSEQUENT LEASE AGREEMENT FOR THE PROPERTY PROVIDED THAT THE TERMS OF SUCH SHALL NOT EXCEED 20 YEARS; AND FOR RELATED PURPOSES.

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

SECTION 1. Section 39-17-9, Mississippi Code of 1972, is amended as follows:

39-17-9. The Department of Finance and Administration may lease the Mississippi Sports Hall of Fame and Dizzy Dean Museum for an initial period not exceeding twenty (20) years to a nonprofit corporation whose primary purpose for incorporation is the support and improvement of the Mississippi Sports Hall of Fame and Dizzy Dean Museum. The department may renew the lease from and after the expiration of the initial lease for a term of not more than twenty (20) years and any subsequent lease entered into thereafter by the departments shall not exceed a term of more than twenty (20) years. The benefit to Mississippi from the operation of such leases shall be considered as sufficient consideration. The lease shall be executed for a nominal fee and it shall be presumed that such lease shall not amount to a donation of state property.

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