MISSISSIPPI LEGISLATURE
2022 Regular Session
To: Universities and Colleges; Appropriations
By: Senator(s) Horhn, Norwood, Frazier, Blount, Butler (36th), Butler (38th), Thomas, Jackson (11th), Jordan
AN ACT TO AUTHORIZE JACKSON STATE UNIVERSITY TO ENTER INTO A GROUND LEASE, SALE, MANAGEMENT OR MAINTENANCE AGREEMENTS WITH A PRIVATE ENTITY RELATED TO THE DEVELOPMENT OF LAND OWNED BY THE UNIVERSITY'S FOUNDATION; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) 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, management and maintenance agreement, or an agreement to lease or sell part of its real property owned by the University's foundation, to a private entity, its successors and assigns, 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 and/or other commercial development on property located within and outside the campus of Jackson State University in the City of Jackson, Hinds County, Mississippi. Any ground lease, management and maintenance agreement authorized under this act shall not exceed a term of forty (40) years. The properties that shall be subject to an agreement authorized under this act are, more particularly described as follows: (LEGAL DESCRIPTION)
(2) The ownership of all property and any improvements and/or facilities thereon which are the subject of any management and maintenance agreement, lease agreement or other type of contract authorized in this act, if not already owned by Jackson State University, shall be transferred without cost to Jackson State University from the private entity at the conclusion of such agreement or other contract. The State of Mississippi shall retain all mineral rights to the real property leased and or sold under this section. The Department of Finance and Administration is authorized to correct any discrepancies in the property descriptions provided in this section.
SECTION 2. This act shall take effect and be in force from and after July 1, 2022.