Senate Bill 2629

(As Passed the Senate)

AN ACT TO AUTHORIZE JACKSON STATE UNIVERSITY, WITH THE APPROVAL OF THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF HIGHER LEARNING, TO ENTER INTO A LONG-TERM MANAGEMENT AND MAINTENANCE AGREEMENT WITH A PRIVATE ENTITY; TO AUTHORIZE JACKSON STATE UNIVERSITY, WITH THE APPROVAL OF THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF HIGHER LEARNING, 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 TO A PRIVATE ENTITY; TO AUTHORIZE JACKSON STATE UNIVERSITY, WITH THE APPROVAL OF THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF HIGHER LEARNING TO LEASE OR SELL A CERTAIN PORTION OF ITS PROPERTY FOR STUDENT HOUSING; TO PROVIDE THAT ANY AGREEMENT AND CONTRACT AUTHORIZED IN THIS ACT SHALL BE SUBJECT TO THE APPROVAL OF THE BOARD OF TRUSTEES' TERMS AND CONDITIONS FOR THE AGREEMENTS AND CONTRACTS AUTHORIZED IN THIS ACT; AND FOR RELATED PURPOSES.

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

SECTION 1. (1) (a) Jackson State University, with the approval of the Board of Trustees of State Institutions of Higher Learning, is authorized to enter into a ground lease and management and maintenance agreements with a private entity, its successors and assigns and enter into an agreement to lease or sell part of its real property to the entity selected in the Intent to Negotiate process conducted by Jackson State University related to the ownership, leasing, renovating, development, construction, furnishing, maintenance and equipping of facilities by the private entity for the housing of Jackson State University students, faculty, staff and visitors within such facilities located within and outside the campus of Jackson State University for a term of no more than forty (40) years. The property is located in the City of Jackson, Hinds County, Mississippi, and includes the "Stewart Hall Building," "University Pointe Building" and facilities to be constructed on the property 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.

The Department of Finance and Administration, acting on behalf of the Board of Trustees of State Institutions of Higher Learning, is authorized to sell and convey certain state-owned real property and any improvements thereon under the possession and control of Jackson State University, located in Jackson, Hinds County, Mississippi, and more particularly described as follows:

Parcel number 144-40-1. 60 FT S/End W ½ Lot 6 Block 18, OLIN Survey Parcel number 144-40-1 734 W Pascagoula Street.

Parcel number 144-28-2. 94.5 FT N INT E/L Poindexter Street and N/L Pascagoula Street Pt Lots 6 and 7 Block OLIN survey.

Parcel number 144-95. Lot 13 Block C Beards Resurvey.

Parcel number 144-135. Lots 32 and 33, Block D, Beards Resurvey, a subdivisions according to a map or plat on file of record in the office of the Chancery Clerk of Hinds County at Jackson, Mississippi, in Plat Book 3 at page 73 thereof, reference to which is hereby made in aid of and as part of this description, said property also being Hinds County Tax Parcel No. 144-135.

(b) The real property described in paragraph (a) of this subsection shall not be sold for 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.

(c) The lease, management and maintenance agreements and any amendments to same shall be subject to approval of the Board of Trustees of State Institutions of Higher Learning. The approved lease and any amendments to the lease shall not be voidable by successor Boards of Trustees of State Institutions of Higher Learning.

(2) (a) Jackson State University is authorized to enter into a ground lease, a management and a maintenance agreement with a private entity, its successors and assigns for an initial terms 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 purpose of the private entity's renovation, furnishing, maintenance and equipping of those buildings. The "Stewart Hall Building" and the "University Pointe Building" are located on the campus of Jackson State University in Jackson, Mississippi.

(b) The ground lease and management and maintenance agreements with a private entity, its successors and assigns shall be subject to the approval of the Board of Trustees of State Institutions of Higher Learning. The approved ground lease and management and maintenance agreements with a private entity, its successors and assigns shall not be voidable by successor Boards of Trustees of State Institutions of Higher Learning based on the building successor doctrine.

(3) The ownership of all land and any improvements and/or facilities thereon, which are the subject of any management agreement, lease agreement or other type of contract authorized or contemplated under this legislation, if not already owned by Jackson State University, shall be transferred from the developer to Jackson State University at the conclusion of such management agreement, lease agreement or other contract.

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

(5) The Department of Finance and Administration is authorized to correct any discrepancies in the property described in this section.

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