MS SB2896

Department of Finance and Administration authorized to purchase 0.74 acres in Madison County (Highland Park of Ridgeland) for Mississippi Board of Pharmacy use, with purchase price not exceeding fair market value determined by average of two qualified appraisals.

Department of Finance and Administration authorized to negotiate all purchase-related expenses including relocation costs, interior construction, HVAC systems, equipment, fixtures, and furniture needed to prepare the new facility.

No state general or special funds may be used for the property purchase; all expenditures must be funded from Board of Pharmacy revenues or proceeds from sale/lease of the current facility.

Department authorized to sell, lease, or enter into lease-purchase agreement for current Board of Pharmacy facility on Key Drive in Madison County for not less than fair market value, with Board remaining able to occupy until new facility is ready.

All proceeds from sale or lease of current facility must offset costs of acquiring and preparing new facility; excess revenues deposited into special Board of Pharmacy fund in State Treasury for Board use, with interest earned retained in the fund.