House Bill 974

(As Sent to Governor)

AN ACT TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION, ACTING ON BEHALF OF THE STATE BOARD OF MENTAL HEALTH TO SELL AND CONVEY, TO THE CITY OF WATER VALLEY, CERTAIN REAL PROPERTY LOCATED WITHIN CITY OF WATER VALLEY, YALOBUSHA COUNTY, MISSISSIPPI, WHICH IS THE SITE OF THE FORMER WATER VALLEY HIGH SCHOOL; AND FOR RELATED PURPOSES.

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

SECTION 1. (1) The Department of Finance and Administration, acting on behalf of the State Board of Mental Health may sell and convey, to the City of Water Valley, for a nominal fee established within a mutually agreed upon contract, acceptable to all parties, all of the rights, title and interest, certain real property located within City of Water Valley, Yalobusha County, Mississippi, which is the site of the former Water Valley High School, acquired through the board's purchase on or about May 16, 2003, from the nonprofit entity, Yalobusha County Economic Development Foundation, Inc., which initially purchased the property from the Water Valley School District on or about April 21, 2003, and such property being more particularly described as follows:

Approximately 5.63 acres being Lot No. 108-West, Lot No. 109-West and part of Lot No. 105-West of the I.C.G.R.R. in the City of Water Valley, Mississippi, as shown on the Map of the City as corrected to date in 1959 by J. K. Boggs, and in the Second Judicial District of Yalobusha County, Mississippi; being more particularly described as follows:

Beginning at an iron bolt at the Southeast Corner of Lot No. 105-West; thence N 89° 51' E, 424.44 feet to an iron bolt on the West ROW of Main Street; thence S 05° 04' E, 106.70 feet to a point; thence S 00° 54' E, 100.00 feet to a point; thence S 01° 39' W, 50.00 feet to a point; thence S 10° 45' W, 50.00 feet to a point; thence S 14° 51' W, 100.00 feet to a point; thence S 20° 22' W, 55.84 feet to an iron rod; thence N 89° 54' 36" W, 414.62 feet to an iron rod; thence N 00° 57' E, 465.97 feet to an iron rod; thence West, 170.14 feet to an iron rod on the East ROW of Griffin Street; thence N 00° 11' 14" W, 198.08 feet to an iron rod; thence S 89° 35' 56" E, 196.39 feet to an iron rod; thence S 00° 27' 57" E, 210.00 feet to the point of beginning.

(2) The State of Mississippi shall retain all mineral rights in the property transferred and conveyed under subsection (1) of this section.

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

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