Adopted
COMMITTEE AMENDMENT NO 1 PROPOSED TO
Senate Bill No. 2698
BY: Committee
Amend by striking all after the enacting clause and inserting in lieu thereof the following:
SECTION 1. (1) The Board of Trustees of State Institutions of Higher Learning, acting by and through the University of Southern Mississippi, may lease portions of the property administered by the Mississippi State Port Authority at Gulfport.
(2) The University of Southern Mississippi may enter into subleases with public and/or private entities for all or part of such property.
(3) The University of Southern Mississippi, acting with the approval of the Board of Trustees of State Institutions of Higher Learning, may negotiate all aspects of any lease and sublease of such property and any terms and ancillary agreements pertaining to any lease and sublease of such property 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.
(4) Any lease and sublease as provided for in this section and approved and entered into by the University of Southern Mississippi shall not exceed a term of forty (40) years and shall not be cancelled by any successor boards on the basis of the binding successor doctrine.
SECTION 2. This act shall take effect and be in force from and after July 1, 2022, and shall stand repealed on June 30, 2022.
Further, amend by striking the title in its entirety and inserting in lieu thereof the following:
AN ACT TO AUTHORIZE THE BOARD OF TRUSTEES OF THE STATE INSTITUTIONS OF HIGHER LEARNING, ACTING BY AND THROUGH THE UNIVERSITY OF SOUTHERN MISSISSIPPI, TO LEASE AND SUBLEASE PROPERTY ADMINISTERED BY THE MISSISSIPPI STATE PORT AUTHORITY AT GULFPORT; TO AUTHORIZE THE UNIVERSITY TO NEGOTIATE ALL ASPECTS OF ANY LEASE AND SUBLEASE PERTAINING TO SUCH PROPERTY; TO PROVIDE THE MAXIMUM TERM OF THESE LEASES AND SUBLEASES; TO PROVIDE THAT THESE LEASES AND SUBLEASES SHALL NOT BE CANCELLED BASED ON THE BINDING SUCCESSOR DOCTRINE; AND FOR RELATED PURPOSES.