HB536: MSU; amend authority to enter into a long-term lease for housing and retail purpose to extend the original lease term to 65 years.

Legislative Summary

An Act To Amend Section 1 And Section 2, Chapter 493, Laws Of 2016, To Authorize The Board Of Trustees Of State Institutions Of Higher Learning, Acting On Behalf Of Mississippi State University Of Agriculture And Applied Sciences, To Extend The Original Lease Terms For The Development Of Housing And Retail Space For The Benefit Of The University, By Granting A Second Option To Renew For An Additional Ten Years And One Additional Option For A Renewal Period Not To Exceed Five Years, Increasing The Original Lease Terms From A Total Of 50 Years To A New Lease Term Totaling 65 Years; And For Related Purposes.