MS SB2698

Authorizes the Board of Trustees of State Institutions of Higher Learning, through the University of Southern Mississippi, to lease property administered by the Mississippi State Port Authority at Gulfport

Permits the University of Southern Mississippi to enter into subleases with public and/or private entities for all or part of the leased property

Grants the university authority to negotiate all aspects of leases and subleases, including terms and ancillary agreements, subject to Board of Trustees approval

Limits lease and sublease terms to a maximum of 40 years

Prohibits cancellation of approved leases and subleases by successor boards based on the binding successor doctrine

Effective date: July 1, 2022