MS HB885

Jackson State University is authorized to lease property for student housing to a private entity for up to 40 years, with Board of Trustees approval required.

Jackson State University is authorized to enter into a ground lease for the Stewart Hall Building and University Pointe Building for up to 40 years, with options to renew for two additional 5-year terms.

Jackson State University is authorized to enter into management and maintenance agreements with private entities for up to 40 years for auxiliary facilities including student, faculty, and staff housing, with renewal options for two additional 5-year terms.

All proceeds from these agreements and leases must be deposited into a special fund for the exclusive use and benefit of Jackson State University, and property reverts to the Board of Trustees at lease term end.

The State of Mississippi retains all mineral rights to the leased property, and the Department of Finance and Administration may correct property description discrepancies.