Bill > SB2519

This bill authorizes the Board of Trustees of State Institutions of Higher Learning (IHL) to enter into long-term leases for specific parcels of land owned by the University of Mississippi, totaling approximately 75.478 acres in Lafayette County. The leases can be for up to 45 years, with additional renewal options of up to 15 years, and are intended to develop academic buildings, housing, dining halls, parking facilities, and retail spaces that benefit the university. The bill requires that all lease agreements must be approved by the IHL board and cannot be cancelled by future boards. Any proceeds from these leases must be deposited into a special fund exclusively for the University of Mississippi's use, and at the end of the lease term, all property and improvements will revert back to the university. The state will retain all mineral rights to the leased property, and the Department of Finance and Administration is authorized to correct any potential discrepancies in the property description. The leases are designed to provide flexibility for the university to develop and enhance its facilities through public-private partnerships while ensuring long-term protection of its assets.

Education

https://billstatus.ls.state.ms.us/2025/pdf/history/SB/SB2519.xml