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--- version:As Introduced+++ version:Current version@@ -1,352 +1,212 @@-MISSISSIPPI LEGISLATURE--2026 Regular Session--To: Universities and Colleges--By: Representatives McGee, Foster--House Bill 1488--AN ACT TO AMEND CHAPTER 445, LAWS OF 2016, WHICH AUTHORIZES-THE DEPARTMENT OF FINANCE AND ADMINISTRATION, ACTING ON BEHALF OF THE BOARD OF-TRUSTEES OF STATE INSTITUTIONS OF HIGHER LEARNING, TO SELL AND CONVEY OR LEASE-PARCELS OF CERTAIN STATE-OWNED REAL PROPERTY AND ANY IMPROVEMENTS THEREON UNDER-THE POSSESSION AND CONTROL OF THE UNIVERSITY OF SOUTHERN MISSISSIPPI, TO-PROVIDE THAT THE DEPARTMENT OF FINANCE AND ADMINISTRATION IS ENTITLED TO DEFER-TO THE RECOMMENDATION OF THE UNIVERSITY OF SOUTHERN MISSISSIPPI FOR THE TERMS-OF THE SALE UPON APPROVAL OF THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF-HIGHER LEARNING; AND FOR RELATED PURPOSES.--���� BE IT ENACTED BY THE-LEGISLATURE OF THE STATE OF MISSISSIPPI:--���� SECTION 1.� Section-1, Chapter 445, Laws of 2016, is amended as follows:--���� Section 2.� (1)� The-Department of Finance and Administration, in consultation with the Board of-Trustees of State Institutions of Higher Learning, is authorized to sell and-convey or lease all or portions of the parcels of certain state-owned real-property and any improvements thereon under the possession and control of the-University of Southern Mississippi, located in Forrest County, Mississippi, and-more particularly described as follows:--The following-described property situated in Forrest County, Mississippi to wit:� South 1/2-of Northeast 1/4 and Southeast 1/4 Section 35 and West 1/2 of West 1/2 and-Southeast 1/4 of Northwest 1/4 and Northeast 1/4 of Southwest 1/4 Section 36 in-Township 5 North range 14 West at St Stephens Meridian and containing 480 acres-more or less, and commence at a 4" x 4" concrete monument at the-Southeast Corner of the NE 1/4 of the NW 1/4 of Section 36, Township 5 North,-range 14 West, Forrest County, Mississippi, and run South 89 degrees 09 minutes-27 seconds West for 660.35 feet to a 1/2 inch rebar and the POINT OF BEGINNING,-from the POINT OF BEGINNING continue South 89 degrees 09 minutes 27 seconds-West for 660.35 feet to a 1/4 inch iron pipe; thence run North 01 degrees 46-minutes 11 seconds West for 1333.93 feet to a 4 inch x 4 inch concrete-monument; thence run North 89 degrees 49 minutes 24 seconds East for 665.80-feet to a 1/2 inch rebar; thence run South 01 degrees 32 minutes 29 seconds-East for 1326.12 feet back to the POINT OF BEGINNING; said parcel of land is a-part of the NE 1/4 of the NW 1/4 of Section 36, Township 5 North, range 14-West, Forrest County, Mississippi, and contains 20.24 acres more or less and-also an easement more particularly described as commence at a 4 inch x 4 inch-concrete monument at the NE corner of the SE 1/4 of the NW 1/4 of Section 36-Township 5 North range 14 West Forrest County, Mississippi for the POINT OF-BEGINNING; from the POINT OF BEGINNING run South 00 degrees 04 minutes 17-seconds West for 699.86 feet to a 3/4 inch iron pipe and the North margin line-of the Country Club paved public road; thence run North 78 degrees 01 minutes-33 seconds West on and along said margin line for 40.00 feet to a 1/2 inch-rebar, thence run North 04 degrees 33 minutes 53 seconds East for 142.19 feet-to a 1/2 inch rebar; thence run North 00 degrees 04 minutes 17 seconds West for-489.86 feet to a 1/2 inch rebar; thence run North 45 degrees 23 minutes 08-seconds West for 44.26 ft. to 1/2 inch rebar; thence run South 89 degrees 09-minutes 27 seconds West for 640.35 feet to a 1/2 inch rebar; then run North 00-degrees 50 minutes 33 seconds West for 28.00 feet to a 1/2 inch rebar; thence-run North 89 degrees 09 minutes 27 seconds East for 700.35 feet back to the-POINT OF BEGINNING; said parcel of land is a part of the SE, 1/4 of the NW 1/4-of Section 36, Township 5 North, range 14 West, Forrest County, Mississippi,-and contains 0.91 acres, more or less; together with all improvements thereon-and appurtenances thereunto belonging.--���� (2)� (a)� If sold, the real-property described in subsection (1) of this section and any improvements-thereon shall be sold for not 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.� Except-as otherwise provided herein, the Department of Finance and Administration-shall be entitled to defer to the recommendation of the University of Southern-Mississippi for the terms of the sale upon approval of the Board of Trustees of-State Institutions of Higher Learning.--��������� (b)� If the real-property described in subsection (1) of this section is leased, the University-of Southern Mississippi, with the approval of the Board of Trustees of State-Institutions of Higher Learning, is authorized to negotiate all aspects of any-lease and any terms and ancillary agreements pertaining to any lease 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.� Any lease approved and-entered into on the University's behalf shall not exceed a term of forty (40)-years and shall not be cancelled by successor boards based on the binding-successor doctrine.--���� (3)� The property described-in subsection (1) of this section shall be sold or leased only if such action-is consistent with the university's goals of research, innovation and-commercialization, and only to result in the highest and best use of the-property and to ensure that the property is used in a manner that will not-interfere with the operation of the University of Southern Mississippi.--���� (4)� The State of-Mississippi shall retain all mineral rights to the real property sold or leased-under this section.--���� (5)� The Department of-Finance and Administration may correct any discrepancies in the legal-description of the property provided in this section.--���� (6)� The Department of-Finance and Administration may recover its costs associated with the-transaction authorized by this section from the proceeds of the sale or lease-of the real property described in subsection (1) of this section, and the net-proceeds of the sale or lease shall be deposited into a special fund in the-State Treasury and shall be expended only for the benefit of the University of-Southern Mississippi.--���� SECTION 2.� Section 2-of Chapter 415, Laws of 2014, is amended as follows:--���� Section 2. �(1)� The-Department of Finance and Administration, acting on behalf of the University of-Southern Mississippi and with the approval of the Board of Trustees of State-Institutions of Higher Learning, is authorized to sell and convey or lease-parcels of certain state-owned real property and any improvements thereon under-the possession and control of the University of Southern Mississippi, located-in the City of Hattiesburg, Forrest County, Mississippi, and more particularly-described as follows:--PARCEL 1 LEGAL-DESCRIPTION-- * * * A PARCEL OF LAND-LOCATED IN THE NORTHEAST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 7, TOWNSHIP 4-NORTH, RANGE 13 WEST, FORREST COUNTY, MISSISSIPPI, ALSO BEING A PART OF THE-MONTE VISTA TERRACE SUBDIVISION, AND BEING MORE PARTICULARLY DESCRIBED AS-FOLLOWS:-- COMMENCING AT THE SOUTHEAST CORNER OF BLOCK 4 OF THE-MONTE VISTA TERRACE SUBDIVISION, SAID POINT ALSO BEING THE POINT OF BEGINNING;-THENCE RUN N89�47'18"W FOR 273.42' ALONG THE NORTHERN BOUNDARY OF CHEVY-CHASE DRIVE TO A FOUND R.O.W. DISK; THENCE RUN N52�48'45"W FOR 37.45'-ALONG THE NORTH BOUNDARY OF CHEVY CHASE DRIVE AND THE EAST BOUNDARY OF 31ST-AVENUE AS RELOCATED TO A FOUND R.O.W. DISK; THENCE RUN 139.55' ALONG A CURVE TO-THE LEFT ALONG THE EAST BOUNDARY OF 31ST AVENUE AS RELOCATED TO A FOUND R.O.W.-DISK, SAID CURVE HAVING A RADIUS OF 454.56', AN INCLUDED ANGLE OF-17�35'24", A CHORD BEARING OF N16�43'32"W, AND A CHORD LENGTH OF-139.00'; THENCE RUN N64�55'38"E FOR 9.54' ALONG THE EAST BOUNDARY OF 31ST-AVENUE AS RELOCATED TO A FOUND IRON PIN; THENCE RUN N28�33'59"W FOR 53.50'-ALONG THE EAST BOUNDARY OF 31ST AVENUE AS RELOCATED TO A FOUND R.O.W. DISK;-THENCE RUN S57�40'44"W FOR 9.81' ALONG THE EAST BOUNDARY OF 31ST AVENUE AS-RELOCATED TO A FOUND R.O.W. DISK; THENCE RUN 78.06' ALONG A CURVE TO THE LEFT-ALONG THE EAST BOUNDARY OF 31ST AVENUE AS RELOCATED TO A FOUND R.O.W. DISK,-SAID CURVE HAVING A RADIUS OF 454.56, AN INCLUDED ANGLE OF 9�50'23", A-CHORD BEARING OF N37�01'23"W, AND A CHORD LENGTH OF 77.97'; THENCE RUN-N42�06'05"W FOR 43.84' ALONG THE EAST BOUNDARY OF 31ST AVENUE AS RELOCATED-TO A FOUND R.O.W. DISK; THENCE RUN 74.09' ALONG A CURVE TO THE RIGHT ALONG THE-EAST BOUNDARY OF 31ST AVENUE AS RELOCATED TO A FOUND R.O.W. DISK, SAID CURVE-HAVING A RADIUS OF 159.28', AN INCLUDED ANGLE OF 26�39'02", A CHORD BEARING-OF N20�48'27"W, AND A CHORD LENGTH OF 73.42'; THENCE RUN N00�03'33"W-FOR 30.24' ALONG THE EAST BOUNDARY OF 31ST AVENUE TO A FOUND R.O.W. DISK;-THENCE RUN N48�20'47"E FOR 24.84' ALONG THE EAST BOUNDARY OF 31ST AVENUE-AS RELOCATED AND THE SOUTH BOUNDARY OF HARDY STREET TO A FOUND R.O.W. DISK;-THENCE RUN S88�29'19"E FOR 453.83' ALONG THE SOUTH BOUNDARY OF HARDY-STREET TO A CHISELLED 'X' IN A CONCRETE RETAINING WALL; THENCE RUN-S00�11'09"W FOR 400.74' ALONG THE WEST BOUNDARY OF 30TH AVENUE BACK TO THE-POINT OF BEGINNING; SAID PARCEL CONTAINS 3.54 ACRES, MORE OR LESS.-- PARCEL MAY BE SUBJECT TO UNVACATED STREET RIGHT(S)‑OF‑WAY-OR UTILITY EASEMENTS. All of Lots 1 through 12 inclusive, Block 5-of the Monte Vista Terrace Subdivision as per map or plat thereof on file in-the Office of the Chancery Clerk of Forrest County, Mississippi, and all of the-vacated portion of South 31st Avenue lying between Hardy Street and Chevy Chase-Drive, and a part of the North � of the Southeast � of Section 7, Township 4-North, Range 13 West, all in the City of Hattiesburg, County of Forrest, State-of Mississippi, and being more particularly described as Beginning at a-� Inch Rebar representing the Southeast Corner of said Block 5, thence run N88�37'17"W-along the South Line of said Block 5 and the North right-of-way Line of Chevy-Chase Drive, a paved public roadway, for 281.18 feet to a � Inch Rebar-representing a Point on the Eastern right-of-way Line of South 31st Avenue, a-paved public roadway, thence run N52�16'43"W along said Eastern right-of-way-Line for 27.74 feet to a Brass Disk, thence run Northwesterly along an Arc to-the Left and along said Eastern right-of-way Line for 139.54 feet to a Brass-Disk, said Arc having a Radius of 454.56 feet, a Chord Bearing of-N16�46'18"W and a Chord Distance of 138.99 feet, thence run-N64�45'55"E along said Eastern right-of-way Line for 9.52 feet to a 5/8-Inch Rebar, thence run N28�28'57"W along said Eastern right-of-way Line-for 53.48 feet to a 3/8 Inch Rebar, thence run S57�46'04"W along said-Eastern right-of-way Line for 9.71 feet to a Brass Disk, thence run-Northwesterly along an Arc to the Left and along said Eastern right-of-way Line-for 78.06 feet to a Brass Disk, said Arc having a Radius of 454.45 feet, a-Chord Bearing of N37�05'09"W and a Chord Distance of 77.96 feet, thence-run N42�07'44"W along said Eastern right-of-way Line for 43.85 feet to a-Brass Disk, thence run Northwesterly along an Arc to the Right and along said-Eastern right-of-way Line for 75.02 feet to a Brass Disk, said Arc having a-Radius of 103.16 feet, a Chord Bearing of N20�43'27"W and a Chord Distance-of 73.38 feet, thence run N00�03'17"W along said Eastern right-of-way Line-for 30.31 feet to a Brass Disk representing a Point of Intersection of said-Eastern right-of-way Line and the Southern right-of-way Line of Hardy Street, a-paved public roadway and also known as State Route 198, thence run-N48�20'32"E along said Southern right-of-way Line for 24.80 feet to a-Brass Disk, thence run S88�29'03"E along said Southern right-of-way Line-and the North Line of said Block 5 and its extension for 453.87 feet to an 'X'-Chiseled in a Concrete Wall representing the Northeast Corner of said Block 5,-thence run S00�13'23"W along the East Line of said Block 5 and the West-right-of-way Line of South 30th Avenue, a paved public roadway, for 400.83 feet-to the POINT OF BEGINNING, comprising 3.53 Acres (153,706 Square Feet), more or-less.--PARCEL-2 LEGAL DESCRIPTION-- * * * A PARCEL OF LAND-LOCATED IN THE NORTHEAST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 7, TOWNSHIP 4-NORTH, RANGE 13 WEST, FORREST COUNTY, MISSISSIPPI, ALSO BEING A PART OF THE-MONTE VISTA TERRACE SUBDIVISION, AND BEING MORE PARTICULARLY DESCRIBED AS-FOLLOWS:-- COMMENCING AT THE SOUTHEAST CORNER OF BLOCK 4 OF THE-MONTE VISTA TERRACE SUBDIVISION, PROCEED S58�42'20"W FOR 411.97' TO THE-WEST R.O.W. BOUNDARY OF 31ST AVENUE TO AN IRON PIN AND THE POINT OF BEGINNING;-THENCE RUN N88�24'33"W FOR 300.00' TO A SET IRON PIN; THENCE RUN N00�06'40"W-FOR 623.00' TO A FOUND METAL PIPE ON THE SOUTH R.O.W. BOUNDARY OF HARDY STREET;-THENCE ALONG THE SOUTH R.O.W. BOUNDARY OF HARDY STREET S76�00'29"E FOR-57.71' TO A FOUND R.O.W. DISK; THENCE ALONG THE SOUTH R.O.W. BOUNDARY OF HARDY-STREET S88�43'25"E FOR 56.78' TO A FOUND R.O.W. DISK AT THE INTERSECTION-OF THE WEST BOUNDARY OF 31ST AVENUE AS RELOCATED; THENCE RUN S43�43'26"E-FOR 19.17' ALONG THE WEST BOUNDARY OF 31ST AVENUE AS RELOCATED TO A FOUND-R.O.W. DISK; THENCE S00�18'27"E FOR 22.43' ALONG THE WEST BOUNDARY OF 31ST-AVENUE AS RELOCATED TO A FOUND R.O.W. DISK; THENCE RUN 116.00' ALONG A CURVE TO-THE LEFT ALONG THE WEST BOUNDARY OF 31ST AVENUE AS RELOCATED TO A FOUND R.O.W.-DISK, SAID CURVE HAVING A RADIUS OF 159.28', AN INCLUDED ANGLE OF-41�43'35", A CHORD BEARING OF S20�53'01"E, AND A CHORD LENGTH OF-113.45'; THENCE RUN S41�49'49"E FOR 43.77' ALONG THE WEST BOUNDARY OF 31ST-AVENUE AS RELOCATED TO A FOUND IRON PIN; THENCE RUN 63.64' ALONG A CURVE TO THE-RIGHT ALONG THE WEST BOUNDARY OF 31ST AVENUE AS RELOCATED TO A FOUND R.O.W.-DISK, SAID CURVE HAVING A RADIUS OF 454.56', AN INCLUDED ANGLE OF-8�01'20", A CHORD BEARING OF S37�42'47"E, AND A CHORD LENGTH OF-63.59'; THENCE RUN S57�10'45"W FOR 7.87' ALONG THE WEST BOUNDARY OF 31ST-AVENUE AS RELOCATED TO A FOUND R.O.W. DISK; THENCE RUN S28�53'49"E FOR-54.54' ALONG THE WEST BOUNDARY OF 31ST AVENUE AS RELOCATED TO A FOUND R.O.W.-DISK; THENCE RUN N65�42'07"E FOR 7.68' ALONG THE WEST BOUNDARY OF 31ST-AVENUE AS RELOCATED TO A FOUND R.O.W. DISK; THENCE RUN 125.55' ALONG A CURVE TO-THE RIGHT ALONG THE WEST BOUNDARY OF 31ST AVENUE AS RELOCATED TO A FOUND R.O.W.-DISK, SAID CURVE HAVING A RADIUS OF 454.56, AN INCLUDED ANGLE OF-15�49'32", A CHORD BEARING OF S15�43'20"E, AND A CHORD LENGTH OF-125.15'; THENCE RUN S83�26'43"W FOR 7.37' ALONG THE WEST BOUNDARY OF 31ST-AVENUE AS RELOCATED TO A FOUND R.O.W. DISK; THENCE RUN S02�51'15"E FOR-55.46' ALONG THE WEST BOUNDARY OF 31ST AVENUE AS RELOCATED TO A FOUND R.O.W.-DISK; THENCE RUN N89�36'10"E FOR 7.42' ALONG THE WEST BOUNDARY OF 31ST AVENUE-AS RELOCATED TO A FOUND R.O.W. DISK; THENCE RUN S00�13'22"W FOR 75.76'-ALONG THE WEST BOUNDARY OF 31ST AVENUE AS RELOCATED TO A FOUND R.O.W. DISK;-THENCE RUN S05�43'51"E FOR 31.16' ALONG THE WEST BOUNDARY OF 31ST AVENUE-AS RELOCATED TO A FOUND R.O.W. DISK; THENCE RUN S00�06'04"E FOR 58.53'-ALONG THE WEST BOUNDARY OF 31ST AVENUE BACK TO THE POINT OF BEGINNING; SAID-PARCEL CONTAINS 3.36 ACRES, MORE OR LESS. A part of the Northwest-� of the Southeast � of Section 7, Township 4 North, Range 13 West, in the City-of Hattiesburg, County of Forrest, State of Mississippi, and being more-particularly described as Commencing at a � Inch Rebar representing the-Southeast Corner of Block 5 of the Monte Vista Terrace Subdivision as per map-or plat thereof on file in the Office of the Chancery Clerk of Forrest County,-Mississippi, thence run N89�53'11"W for 351.60 feet to a Point on the-Original Western right-of-way Line of South 31st Avenue, a paved public-roadway, said Original Western right-of-way Line being prior to the-reconstruction and relocation of said South 31st Avenue in November 2006,-thence run S00�06'49"W along said Original Western right-of-way Line for-125.00 feet to a � Inch Rebar representing the Point of Intersection of said-Original Western right-of-way Line and the Current Western right-of-way Line of-said South 31st Avenue, said Point being the POINT OF BEGINNING; thence-continue S00�06'49"W along said Western right-of-way Line for 31.01 feet-to a Brass Disk, thence run S00�03'35"E along said Western right-of-way-Line for 58.49 feet to a � Inch Rebar, thence run N88�25'04"W for 299.79-feet to a � Inch Rebar, thence run N00�07'19"W for 615.76 feet to a � Inch-Rebar representing a Point on the Southern right-of-way Line of Hardy Street, a-paved public roadway and also known as State Route 198, thence run-S78�44'55"E along said Southern right-of-way Line for 32.22 feet to a �-Inch Rebar, thence run S88�47'02"E along said Southern right-of-way Line-for 80.98 feet to a Brass Disk, thence run S43�53'19"E along said Southern-right-of-way Line for 19.25 feet to a Brass Disk representing the Intersection-of said Southern right-of-way Line and said Western right-of-way Line, thence-run S00�06'54"E along said Western right-of-way Line for 22.40 feet to a-Brass Disk, thence run Southeasterly along an Arc to the Left and along said-Western right-of-way Line for 116.00 feet to a Brass Disk, said Arc having a-Radius of 159.24 feet, a Chord Bearing of S20�53'27"E and a Chord Distance-of 113.45 feet, thence run S41�53'31"E along said Western right-of-way Line-for 43.77 feet to a Brass Disk, thence run Southeasterly along an Arc to the-right and along said Western right-of-way Line for 63.66 feet to a Brass Disk,-said Arc having a Radius of 398.35 feet, a Chord Bearing of S37�38'46"E-and a Chord Distance of 63.60 feet, thence run S56�53'56"W along said-Western right-of-way Line for 7.85 feet to a Brass Disk, thence run-S28�56'47"E along said Western right-of-way Line for 54.54 feet to a Brass-Disk, thence run N65�26'49"E along said Western right-of-way Line for 7.66-feet to a Brass Disk, thence run Southeasterly along an Arc to the Right and-along said Western right-of-way Line for 125.64 feet to a Brass Disk, said Arc-having a Radius of 398.35 feet, a Chord Bearing of S15�43'33"E and a Chord-Distance of 125.12 feet, thence run S82�35'17"W along said Western right-of-way-Line for 7.33 feet to a Brass Disk, thence run S02�53'18"E along said-Western right-of-way Line for 55.37 feet to a Brass Disk, thence run-N89�44'04"E along said Western right-of-way Line for 7.34 feet to a Brass-Disk, thence run S00�09'31"W along said Western right-of-way Line for-75.85 feet to a Brass Disk, thence run S89�53'11"E along said Western-right-of-way Line for 3.17 feet to the POINT OF BEGINNING, comprising 3.35-Acres (145,919 Square Feet), more or less.--���� Parcel 1 and-Parcel 2 contain an aggregate of 6.88 Acres (299,625 Square Feet), more or-less.--���� Parcels-may be subject to unvacated street right(s)-of-way or utility easements.--���� (2)� (a)� If sold, the-real property described in subsection (1) of this section and any improvements-thereon shall be sold for not less than the current fair market value as-determined by the averaging of at least two (2) appraisals by qualified-appraisers, one (1) of whom shall be selected by the Department of Finance and-Administration, and both of whom shall be certified and licensed by the-Mississippi Real Estate Appraiser Licensing and Certification Board.--��������� (b)� If the real-property described in subsection (1) of this section is leased, the University-of Southern Mississippi, with the approval of the Board of Trustees of State-Institutions of Higher Learning, is authorized to negotiate all aspects of any-lease and any terms and ancillary agreements pertaining to any lease 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.� Any lease approved and-entered into on the university's behalf shall not be cancelled by successor-boards based on the binding successor doctrine.--���� (3)� The property described-in subsection (1) of this section shall be sold or leased to result in the-highest and best use of the property and to ensure that the property is used in-a manner that will not interfere with the operation of the University of-Southern Mississippi.--���� (4)� The State of-Mississippi shall retain all mineral rights to the real property sold or leased-under this section.--���� (5)� The Department of-Finance and Administration may recover its costs associated with the-transaction authorized by this section from the proceeds of the sale or lease-of the real property described in subsection (1) of this section and the net-proceeds of the sale or lease shall be deposited into a special fund in the-State Treasury and shall be expended only for the benefit of the University of-Southern Mississippi.--���� (6)� The Department of-Finance and Administration is authorized to correct any discrepancies in the-property descriptions provided in this section.--���� SECTION 3.� This act-shall take effect and be in force from and after its passage.+H. B. No. 1488 *HR26/R1823SG* ~ OFFICIAL ~ G1/2+26/HR26/R1823SG+PAGE 1 (MCL\KW)++To: Universities and+Colleges+MISSISSIPPI LEGISLATURE REGULAR SESSION 2026++By: Representatives McGee, Foster++HOUSE BILL NO. 1488+(As Sent to Governor)++ AN ACT TO AMEND SECTION 1, CHAPTER 445, LAWS OF 2016, WHICH 1+AUTHORIZES THE DEPARTMENT OF FINANCE AND ADMINISTRATION, ACTING ON 2+BEHALF OF THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF HIGHER 3+LEARNING, TO SELL AND CONVEY OR LEASE PARCELS OF CERTAIN 4+STATE-OWNED REAL PROPERTY AND ANY IMPROVEMENTS THEREON UNDER THE 5+POSSESSION AND CONTROL OF THE UNIVERSITY OF SOUTHERN MISSISSIPPI, 6+TO PROVIDE THAT THE DEPARTMENT OF FINANCE AND ADMINISTRATION IS 7+ENTITLED TO DEFER TO THE RECOMMENDATION OF THE UNIVERSITY OF 8+SOUTHERN MISSISSIPPI FOR THE TERMS OF THE SALE UPON APPROVAL OF 9+THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF HIGHER LEARNING; TO 10+REQUIRE EACH PUBLIC POSTSECONDARY EDUCATIONAL INSTITUTION TO 11+SUBMIT A REPORT TO THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF 12+HIGHER LEARNING OR THE MISSISSIPPI COMMUNITY COLLEGE BOARD, AS 13+APPROPRIATE FOR THE RESPECTIVE GOVERNING BOARD, DETAILING THE 14+POSTSECONDARY EDUCATIONAL INSTITUTION'S FINANCIAL LITERACY 15+EDUCATION ACTIVITIES CONDUCTED DURING THE MOST RECENTLY COMPLETED 16+ACADEMIC YEAR BY OCTOBER 1, 2026; TO REQUIRE THE BOARDS TO COMPILE 17+THE REPORTS RECEIVED INTO A CONSOLIDATED REPORT TO BE PRESENTED TO 18+THE CHAIRPERSONS OF THE HOUSE AND SENATE UNIVERSITIES AND COLLEGES 19+COMMITTEE BY NOVEMBER 1, 2026; TO SPECIFY THE COMPONENTS REQUIRED 20+TO BE INCLUDED IN THE CONSOLIDATED REPORT BY IDENTIFYING WHICH 21+FINANCIAL LITERACY CONCEPTS ARE ADDRESSED THROUGH ITS FINANCIAL 22+LITERARY EDUCATION ACTIVITIES; AND FOR RELATED PURPOSES. 23+ BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 24+ SECTION 1. Section 1, Chapter 445, Laws of 2016, is amended 25+as follows: 26+ Section 1. (1) The Department of Finance and 27+Administration, in consultation with the Board of Trustees of 28+H. B. No. 1488 *HR26/R1823SG* ~ OFFICIAL ~+26/HR26/R1823SG+PAGE 2 (MCL\KW)++State Institutions of Higher Learning, is authorized to sell and 29+convey or lease all or portions of the parcels of certain 30+state-owned real property and any improvements thereon under the 31+possession and control of the University of Southern Mississippi, 32+located in Forrest County, Mississippi, and more particularly 33+described as follows: 34+The following described property situated in Forrest County, 35+Mississippi to wit: South 1/2 of Northeast 1/4 and Southeast 36+1/4 Section 35 and West 1/2 of West 1/2 and Southeast 1/4 of 37+Northwest 1/4 and Northeast 1/4 of Southwest 1/4 Section 36 38+in Township 5 North range 14 West at St Stephens Meridian and 39+containing 480 acres more or less, and commence at a 4" x 4" 40+concrete monument at the Southeast Corner of the NE 1/4 of 41+the NW 1/4 of Section 36, Township 5 North, range 14 West, 42+Forrest County, Mississippi, and run South 89 degrees 09 43+minutes 27 seconds West for 660.35 feet to a 1/2 inch rebar 44+and the POINT OF BEGINNING, from the POINT OF BEGINNING 45+continue South 89 degrees 09 minutes 27 seconds West for 46+660.35 feet to a 1/4 inch iron pipe; thence run North 01 47+degrees 46 minutes 11 seconds West for 1333.93 feet to a 4 48+inch x 4 inch concrete monument; thence run North 89 degrees 49+49 minutes 24 seconds East for 665.80 feet to a 1/2 inch 50+rebar; thence run South 01 degrees 32 minutes 29 seconds East 51+for 1326.12 feet back to the POINT OF BEGINNING; said parcel 52+of land is a part of the NE 1/4 of the NW 1/4 of Section 36, 53+H. B. No. 1488 *HR26/R1823SG* ~ OFFICIAL ~+26/HR26/R1823SG+PAGE 3 (MCL\KW)++Township 5 North, range 14 West, Forrest County, Mississippi, 54+and contains 20.24 acres more or less and also an easement 55+more particularly described as commence at a 4 inch x 4 inch 56+concrete monument at the NE corner of the SE 1/4 of the NW 57+1/4 of Section 36 Township 5 North range 14 West Forrest 58+County, Mississippi for the POINT OF BEGINNING; from the 59+POINT OF BEGINNING run South 00 degrees 04 minutes 17 seconds 60+West for 699.86 feet to a 3/4 inch iron pipe and the North 61+margin line of the Country Club paved public road; thence run 62+North 78 degrees 01 minutes 33 seconds West on and along said 63+margin line for 40.00 feet to a 1/2 inch rebar, thence run 64+North 04 degrees 33 minutes 53 seconds East for 142.19 feet 65+to a 1/2 inch rebar; thence run North 00 degrees 04 minutes 66+17 seconds West for 489.86 feet to a 1/2 inch rebar; thence 67+run North 45 degrees 23 minutes 08 seconds West for 44.26 ft. 68+to 1/2 inch rebar; thence run South 89 degrees 09 minutes 27 69+seconds West for 640.35 feet to a 1/2 inch rebar; then run 70+North 00 degrees 50 minutes 33 seconds West for 28.00 feet to 71+a 1/2 inch rebar; thence run North 89 degrees 09 minutes 27 72+seconds East for 700.35 feet back to the POINT OF BEGINNING; 73+said parcel of land is a part of the SE, 1/4 of the NW 1/4 of 74+Section 36, Township 5 North, range 14 West, Forrest County, 75+Mississippi, and contains 0.91 acres, more or less; together 76+with all improvements thereon and appurtenances thereunto 77+belonging. 78+H. B. No. 1488 *HR26/R1823SG* ~ OFFICIAL ~+26/HR26/R1823SG+PAGE 4 (MCL\KW)++ (2) (a) If sold, the real property described in subsection 79+(1) of this section and any improvements thereon shall be sold for 80+not less than the current fair market value as determined by the 81+averaging of at least two (2) appraisals by qualified appraisers, 82+one (1) of which who shall be selected by the Department of 83+Finance and Administration, and both of which shall be certified 84+and licensed by the Mississippi Real Estate Appraiser Licensing 85+and Certification Board. Except as otherwise provided herein, the 86+Department of Finance and Administration shall be entitled to 87+defer to the recommendation of the University of Southern 88+Mississippi for the terms of the sale upon approval of the Board 89+of Trustees of State Institutions of Higher Learning. 90+ (b) If the real property described in subsection (1) of 91+this section is leased, the University of Southern Mississippi, 92+with the approval of the Board of Trustees of State Institutions 93+of Higher Learning, is authorized to negotiate all aspects of any 94+lease and any terms and ancillary agreements pertaining to any 95+lease as may be reasonably necessary to effectuate the intent and 96+purposes of this section and to ensure a fair and equitable return 97+to the state. Any lease approved and entered into on the 98+University's behalf shall not exceed a term of forty (40) years 99+and shall not be cancelled by successor boards based on the 100+binding successor doctrine. 101+ (3) The property described in subsection (1) of this section 102+shall be sold or leased only if such action is consistent with the 103+H. B. No. 1488 *HR26/R1823SG* ~ OFFICIAL ~+26/HR26/R1823SG+PAGE 5 (MCL\KW)++university's goals of research, innovation and commercialization, 104+and only to result in the highest and best use of the property and 105+to ensure that the property is used in a manner that will not 106+interfere with the operation of the University of Southern 107+Mississippi. 108+ (4) The State of Mississippi shall retain all mineral rights 109+to the real property sold or leased under this section. 110+ (5) The Department of Finance and Administration may correct 111+any discrepancies in the legal description of the property 112+provided in this section. 113+ (6) The Department of Finance and Administration may recover 114+its costs associated with the transaction authorized by this 115+section from the proceeds of the sale or lease of the real 116+property described in subsection (1) of this section, and the net 117+proceeds of the sale or lease shall be deposited into a special 118+fund in the State Treasury and shall be expended only for the 119+benefit of the University of Southern Mississippi. 120+ SECTION 2. (1) By October 1, 2026, each state institution 121+of higher learning, public community college or public junior 122+college shall submit a report to either the Board of Trustees of 123+State Institutions of Higher Learning or the Mississippi Community 124+College Board, as appropriate, detailing the entity's financial 125+literacy education activities conducted during the most recently 126+completed academic year. Each reported activity under subsections 127+(3) and (4) of this section shall denote whether the activity is 128+H. B. No. 1488 *HR26/R1823SG* ~ OFFICIAL ~+26/HR26/R1823SG+PAGE 6 (MCL\KW)++currently ongoing at the institution or college, as well as 129+whether the activity is required by an accrediting body. 130+ (2) The Mississippi Community College Board and the Board of 131+Trustees of State Institutions of Higher Learning shall each 132+compile the reports received under subsection (1) of this section 133+and submit a consolidated report to the Chairpersons of the 134+Universities and Colleges Committees of the Mississippi Senate and 135+the House of Representatives no later than November 1, 2026. 136+ (3) Each report submitted under subsection (1) shall 137+include, at a minimum, all of the following: 138+ (a) Policies concerning financial literacy currently in 139+effect or under development; 140+ (b) Financial literacy credit-bearing courses offered 141+to students, including any course required for degree or 142+certificate completion; 143+ (c) Financial literacy certification or 144+credential-style programs offered to students; 145+ (d) Workshops, seminars or similar student-facing 146+financial literacy events provided by the institution; 147+ (e) Opportunities for one-on-one financial counseling 148+available to students; 149+ (f) Any campus-wide financial education initiatives; 150+and 151+ (g) Online resources, digital tools or interactive 152+financial literacy materials available to students. 153+H. B. No. 1488 *HR26/R1823SG* ~ OFFICIAL ~+26/HR26/R1823SG+PAGE 7 (MCL\KW)+ST: University of Southern Mississippi;+authorize to sell or enter long term lease for+use of university property.+ (4) Each report shall identify which, if any, of the 154+financial literacy concepts listed below are addressed through the 155+activities described in subsection (3). For purposes of this 156+section "financial literacy concepts" include, but is not limited 157+to, the following: 158+ (a) Personal budgeting and cash-flow management; 159+ (b) Credit, debt and credit scoring; 160+ (c) Student loans, financial aid and repayment; 161+ (d) Basic tax obligations and filing requirements; 162+ (e) Insurance and risk management; 163+ (f) Saving, investing and retirement planning; 164+ (g) Consumer protection, contracts and fraud 165+prevention; 166+ (h) Evaluation of employment offers, wages and 167+benefits; and 168+ (i) Investments in property, including mortgages, 169+leases and liens. 170+ SECTION 3. Section 1 of this act shall take effect and be in 171+force from and after its passage. Section 2 of this act shall 172+take effect and be in force from and after July 1, 2026. 173
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