MS SB2810

Board of Trustees of State Institutions of Higher Learning may acquire or dispose of state university real property upon recommendation of the university chancellor or president, except for universities already authorized by law to handle their own property transactions.

Board may acquire real property for university use without requiring state funds specifically appropriated for the purchase.

Board may sell university real property when no longer needed for university operations, with sale proceeds used either to purchase other properties or retained for university operations.

Sale price must be at least fair market value as determined by a professional appraiser selected by the Department of Finance and Administration, with appraisal filed 30 days before sale and fees split equally between university and purchaser.

State of Mississippi retains all mineral rights to any property sold under this act, effective July 1, 2013.