Senate Bill 2233

AN ACT TO AUTHORIZE THE UNIVERSITY OF MISSISSIPPI MEDICAL CENTER, WITH THE APPROVAL OF THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF HIGHER LEARNING, TO LEASE A CERTAIN PORTION OF ITS PROPERTY THAT IS LOCATED IN THE CITY OF JACKSON, MISSISSIPPI, FOR A TERM OF NO MORE THAN FORTY YEARS TO THE AMERICAN CANCER SOCIETY; AND FOR RELATED PURPOSES.

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

SECTION 1. (1) The University of Mississippi Medical Center, with the approval of the Board of Trustees of State Institutions of Higher Learning, is authorized to enter into an agreement to lease a part of its real property for a term of no more than forty (40) years to the American Cancer Society for temporary housing of cancer patients and their families and for associated administrative office space. The property is located in the City of Jackson, Hinds County, Mississippi, and will be more particularly described in the agreement as determined by the University of Mississippi Medical Center.

(2) The lease may include an option to renew for no more than one (1) successive term of twenty (20) years. No provision in the lease or any amendment to the lease shall be construed to authorize the sale or transfer of title to the property that will be leased.

(3) The lease, any amendment to the lease and the property description of the property to be leased shall be subject to the approval of the Board of Trustees of State Institutions of Higher Learning.

(4) All proceeds derived or received from the lease entered into under this section shall be deposited into a special fund and expended only for the use and benefit of the University of Mississippi Medical Center.

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