MS HB535

Authorizes the Mississippi Transportation Commission, through the Mississippi Department of Transportation, to sell state-owned real property and improvements located in Neshoba County consisting of approximately 2.98 acres plus a 50-foot-wide strip of land.

Property must be sold by negotiated private sale to a Mississippi resident or Mississippi-based entity for not less than fair market value determined by the average of at least two appraisals by certified and licensed appraisers.

All proceeds from the property sale shall be deposited into a special fund for the Mississippi Department of Transportation, with unexpended amounts not lapsing and interest earned credited back to the fund.

The State of Mississippi retains all mineral rights to the sold property.

The Department of Finance and Administration is authorized to correct any discrepancies in the legal description of the property.