MS HB1542

Authorizes the Board of Trustees of State Institutions of Higher Learning to enter into long-term services agreements on behalf of the University of Southern Mississippi for operation, repairs, maintenance, and/or capital improvements of the university's utility systems (water, sewage, gas, electric, HVAC, telecommunications, and related systems).

Permits services agreements to have a term of up to 50 years and exempts such agreements from standard state procurement requirements by classifying them as personal service contracts.

Protects approved services agreements from cancellation by successor boards under the binding successor doctrine, ensuring continuity of contracted services.

Allows the university to negotiate all agreement terms and authorize private or nonprofit entities to pledge their interests under the agreement to secure their obligations.

Returns all utility system operations, repairs, and maintenance to the university at the end of the agreement term, and exempts the property and materials in the utility system from ad valorem taxation and assessments.