As Amended
SEC. 37-101-41. Authorization of leasing of land at certain institutions for construction of housing and dormitory facilities by private financing; lease terms.
The board of trustees of state institutions of higher learning is hereby authorized and empowered to lease to private individuals or corporations, for a term not exceeding thirty-one (31) years, any land at any of the following state-supported institutions: Mississippi State University of Agriculture and Applied Science, Jackson State University, Mississippi Valley State University, Alcorn State University, University of Southern Mississippi, Mississippi University for Women and Delta State University, for the purpose of erecting housing and dormitory facilities thereon for active faculty and students. Said housing facilities shall be constructed thereon by private financing, and shall be leased back to said board for use by the concerned state-supported institution of higher learning. The lease shall contain a provision permitting said board to purchase the building located thereon for the sum of one dollar ($1.00) after payment by said board of all sums of money due under said lease.
SOURCES: Codes, 1942, Sec. 6724.5; Laws, 1966, ch. 671, Sec. 1; 1968, ch. 413, Sec. 1; 1977, ch. 347, eff from and after passage (approved March 14, 1977).