MS SB2535

Authorizes the Department of Finance and Administration to sell state-owned real property controlled by the University of Southern Mississippi located in Block 27 of Hattiesburg, Forrest County, consisting of Lots 22, 23, and 24 and the East 1/2 of a vacated adjacent alley.

Requires the property be sold for no less than fair market value as determined by averaging at least two appraisals from certified and licensed appraisers, with one selected by the Department of Finance and Administration.

Retains all mineral rights to the sold property for the State of Mississippi.

Directs all proceeds from the property sale be deposited into a special fund in the State Treasury and expended exclusively for the benefit of the University of Southern Mississippi.