MS HB1111

Department of Finance and Administration authorized to purchase a 0.74-acre parcel in Madison County for the Mississippi Board of Pharmacy, with purchase price not to exceed fair market value determined by average of at least two appraisals.

No state general funds or special appropriations shall be used for the property purchase; all costs must be funded by Board of Pharmacy revenues or proceeds from sale/lease of existing facility.

Department of Finance and Administration authorized to sell, lease, or enter into a lease-purchase agreement for the Board of Pharmacy's current Key Drive facility in Madison County.

Proceeds from sale or lease of existing facility must offset costs of purchasing and equipping the new facility; any excess proceeds deposited into a special Board of Pharmacy fund that does not lapse at fiscal year-end.

Sale or lease of existing facility cannot occur before completion of new property purchase, except by contract provision allowing the Board to remain in current facility until relocation is complete.