Senate Bill 2629

(COMMITTEE SUBSTITUTE)

AN ACT TO AUTHORIZE JACKSON STATE UNIVERSITY TO ENTER INTO A LONG-TERM MANAGEMENT AND MAINTENANCE AGREEMENT WITH A PRIVATE ENTITY; TO AUTHORIZE JACKSON STATE UNIVERSITY TO ENTER INTO A GROUND LEASE TO LEASE THE PROPERTY ON WHICH THE BUILDINGS KNOWN AS THE "STEWART HALL BUILDING" AND THE "UNIVERSITY POINTE BUILDING" ARE LOCATED; AND FOR RELATED PURPOSES.

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

SECTION 1. (1) Jackson State University is authorized to enter into management and maintenance agreements with a private entity, its successors and assigns selected in the invitation to negotiate process conducted by Jackson State University for an initial term up to forty (40) years related to the ownership, leasing, renovating, development, construction, furnishing, maintenance, equipping and/or operation of auxiliary facilities by the private entity for the housing of students, faculty, staff and visitors within such auxiliary facilities located within and outside the campus of Jackson State University. The property is located in the City of Jackson, Hinds County, Mississippi, and is more particularly described as follows:

Starting at Lynch Street from the northeast corner at Poindexter Street North along the east side of Poindexter Street to the Robert Smith Parkway. Property south of the Robert Smith Parkway going east along the Robert Smith Parkway to the roundabout. Property west of the roundabout moving south through the roundabout connecting at University BLVD and then all property west of University BLVD south to Lynch Street. Then property north of Lynch Street moving west along Lynch Street to the northeast corner of Poindexter Street at Lynch Street.

(a) Each management and maintenance agreement may include an option to renew the agreement for two (2) additional terms of five (5) years each.

(b) The management and maintenance agreements and any amendments to the agreements shall be subject to the approval of the Board of Trustees of State Institutions of Higher Learning. The approved management and maintenance agreements and any amendments to the agreements shall not be cancelled by successor Boards of Trustees of State Institutions of Higher Learning based on the binding successor doctrine.

(2) Jackson State University is authorized to enter into a ground lease with a private entity, its successors and assigns selected in the invitation to negotiate process conducted by Jackson State University for an initial term up to forty (40) years to lease the property on which the buildings designated as the "Stewart Hall Building" and the "University Pointe Building" are located together with appurtenances thereto for the purposes of the private entity's renovation, furnishing, maintenance, equipping and operation of those buildings. The Stewart Hall Building and the University Pointe Building are located on the campus of Jackson State University in Jackson, Mississippi.

(a) The ground lease may include an option to renew the ground lease for no more than two (2) additional lease terms of five (5) years each.

(b) The ground lease and any amendments to the ground lease shall be subject to the approval of the Board of Trustees of State Institutions of Higher Learning. The approved ground lease and any amendments to the ground lease shall not be cancelled by successor Boards of Trustees of State Institutions of Higher Learning based on the binding successor doctrine.

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