MS SB2854

Authorizes the Mississippi Department of Finance and Administration to purchase three parcels of real property in Jackson, Hinds County for the Mississippi Fair Commission: the Regency Hotel Tract (6.15 acres), the Patel Tract (2.53 acres), and the Dennery's Restaurant property (3.41 acres plus 0.09 acres easement).

Purchase price cannot exceed the current fair market value as determined by the average of two appraisals conducted by certified and licensed appraisers, with one selected by the Department of Finance and Administration.

The state acquires all mineral rights interests in the purchased properties, which must be retained by the state in any future agreements to sell or lease the properties.

Authorizes the Department of Finance and Administration to correct any discrepancies in the legal descriptions of the properties.

Takes effect July 1, 2018.