Senate Bill 2291

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 OR LEASE PARCELS OF CERTAIN STATE-OWNED REAL PROPERTY AND ANY IMPROVEMENTS THEREON UNDER THE POSSESSION AND CONTROL OF THE UNIVERSITY OF SOUTHERN MISSISSIPPI, LOCATED IN FORREST COUNTY, MISSISSIPPI; TO STIPULATE THE CONDITIONS UNDER WHICH THE PROPERTY MAY BE SOLD OR LEASED TO PROMOTE THE HIGHEST AND BEST USE FOR THE UNIVERSITY OF SOUTHERN MISSISSIPPI AND THE STATE; TO PROVIDE THAT THE SELLING OR LEASING ENTITY SHALL ENTERTAIN REQUESTS FOR PROPOSALS FOR THE SALE AND PURCHASE OF THE PROPERTY AND IMPROVEMENTS AND ACCEPT THE PROPOSAL THAT PROVIDES THE HIGHEST AND BEST VALUE FOR THE UNIVERSITY OF SOUTHERN MISSISSIPPI AND THE STATE WHICH SHALL INCLUDE, BUT NOT BE LIMITED TO THE PRICE, USE AND OTHER PROPOSAL CONDITIONS AS REQUIRED BY THE UNIVERSITY AND THE STATE; TO PROVIDE THAT THE STATE SHALL RETAIN ALL MINERAL RIGHTS TO THE REAL PROPERTY SOLD OR LEASED UNDER THIS ACT; AND FOR RELATED PURPOSES.

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

SECTION 1. (1) The Department of Finance and Administration, in consultation with the Board of Trustees of State Institutions of Higher Learning, is authorized to sell and convey or lease all or portions of the parcels of certain state—owned real property and any improvements thereon under the possession and control of the University of Southern Mississippi, located in Forrest County, Mississippi, and more particularly described as follows:

THE FOLLOWING DESCRIBED PROPERTY SITUATED IN FORREST COUNTY, MISSISSIPPI TO WIT: SOUTH 1/2 OF NORTHEAST 1/4 AND SOUTHEAST 1/4 SECTION 35 AND WEST 1/2 OF WEST 1/2 AND SOUTHEAST 1/4 OF NORTHWEST 1/4 AND NORTHEAST 1/4 OF SOUTHWEST 1/4 SECTION 36 IN TOWNSHIP 5 NORTH RANGE 14 WEST AT ST. STEPHENS MERIDIAN AND CONTAINING 480 ACRES MORE OR LESS,

AND

COMMENCE AT A 4" X 4" CONCRETE MONUMENT AT THE SOUTHEAST CORNER OF THE NE 1/4 OF THE NW 1/4 OF SECTION 36, TOWNSHIP 5 NORTH, RANGE 14 WEST, FORREST COUNTY, MISSISSIPPI, AND RUN SOUTH 89 DEGREES 09 MINUTES 27 SECONDS WEST FOR 660.35 FEET TO A 1/2 INCH REBAR AND THE POINT OF BEGINNING, FROM THE POINT OF BEGINNING CONTINUE SOUTH 89 DEGREES 09 MINUTES 27 SECONDS WEST FOR 660.35 FEET TO A 1/4 INCH IRON PIPE; THENCE RUN NORTH 01 DEGREES 46 MINUTES 11 SECONDS WEST FOR 1333.93 FEET TO A 4 INCH X 4 INCH CONCRETE MONUMENT; THENCE RUN NORTH 89 DEGREES 49 MINUTES 24 SECONDS EAST FOR 665.80 FEET TO A 1/2 INCH REBAR; THENCE RUN SOUTH 01 DEGREES 32 MINUTES 29 SECONDS EAST FOR 1326.12 FEET BACK TO THE POINT OF BEGINNING; SAID PARCEL OF LAND IS A PART OF THE NE 1/4 OF THE NW 1/4 OF SECTION 36, TOWNSHIP 5 NORTH, RANGE 14 WEST, FORREST COUNTY, MISSISSIPPI, AND CONTAINS 20.24 ACRES MORE OR LESS AND ALSO AN EASEMENT MORE PARTICULARLY DESCRIBED AS COMMENCE AT A 4 INCH X 4 INCH CONCRETE MONUMENT AT THE NE CORNER OF THE SE 1/4 OF THE NW 1/4 OF SECTION 36 TOWNSHIP 5 NORTH RANGE 14 WEST FORREST COUNTY, MISSISSIPPI FOR THE POINT OF BEGINNING; FROM THE POINT OF BEGINNING RUN SOUTH 00 DEGREES 04 MINUTES 17 SECONDS WEST FOR 699.86 FEET TO A 3/4 INCH IRON PIPE AND THE NORTH MARGIN LINE OF THE COUNTRY CLUB PAVED PUBLIC ROAD; THENCE RUN NORTH 78 DEGREES 01 MINUTES 33 SECONDS WEST ON AND ALONG SAID MARGIN LINE FOR 40.00 FEET TO A 1/2 INCH REBAR, THENCE RUN NORTH 04 DEGREES 33 MINUTES 53 SECONDS EAST FOR 142.19 FEET TO A 1/2 INCH REBAR; THENCE RUN NORTH 00 DEGREES 04 MINUTES 17 SECONDS WEST FOR 489.86 FEET TO A 1/2 INCH REBAR; THENCE RUN NORTH 45 DEGREES 23 MINUTES 08 SECONDS WEST FOR 44.26 FT. TO 1/2 INCH REBAR. THENCE RUN SOUTH 89 DEGREES 09 MINUTES 27 SECONDS WEST FOR 640.35 FEET TO A 1/2 INCH REBAR; THEN RUN NORTH 00 DEGREES 50 MINUTES 33 SECONDS WEST FOR 28.00 FEET TO A 1/2 INCH REBAR; THENCE RUN NORTH 89 DEGREES 09 MINUTES 27 SECONDS EAST FOR 700.35 FEET BACK TO THE POINT OF BEGINNING; SAID PARCEL OF LAND IS A PART OF THE SE 1/4 OF THE NW 1/4 OF SECTION 36, TOWNSHIP 5 NORTH, RANGE 14 WEST, FORREST COUNTY, MISSISSIPPI, AND CONTAINS 0.91 ACRES, MORE OR LESS; TOGETHER WITH ALL IMPROVEMENTS THEREON AND APPURTENANCES THEREUNTO BELONGING.

(2) (a) If sold, the real property described in subsection (1) of this section and any improvements thereon shall be sold for not 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.

(b) If the real property described in subsection (1) of this section is leased, the University of Southern Mississippi, with the approval of the Board of Trustees of State Institutions of Higher Learning, is authorized to negotiate all aspects of any lease and any terms and ancillary agreements pertaining to any lease as may be reasonably necessary to effectuate the intent and purposes of this section and to ensure a fair and equitable return to the state. Any lease approved and entered into on the University's behalf shall not be cancelled by successor boards based on the binding successor doctrine.

(3) The property described in subsection (1) of this section shall be sold or leased to result in the highest and best use of the property and to ensure that the property is used in a manner that will not interfere with the operation of the University of Southern Mississippi.

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

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

(6) The Department of Finance and Administration may recover its costs associated with the transaction authorized by this section from the proceeds of the sale or lease of the real property described in subsection (1) of this section, and the net proceeds of the sale or lease 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.

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