MS SB2233

University of Mississippi Medical Center authorized to lease property in Jackson to American Cancer Society for up to 40 years for temporary housing of cancer patients and administrative office space, with Board of Trustees approval required.

Lease may include one renewal option for up to 20 years, and no provision authorizes sale or transfer of property title.

Mississippi State University authorized to lease and sublease specified property in Starkville (34.293 acres) for up to 40 years to develop housing and/or retail facilities, subject to Board of Trustees approval.

MSU lease/sublease requires competitive bidding process with published notice, bid security of at least 5% of construction costs, performance bonds, and award to lowest and best bidder.

All proceeds from both leases must be deposited into special funds for exclusive use and benefit of the respective universities.