Bill Text: MS SB2689 | 2018 | Regular Session | Introduced

Mississippi Senate Bill 2689 (Prior Session Legislation)

Introduced

Bill Title: IHL; may approve long-term contracts between universities and private real estate developers.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2018-01-30 - Died In Committee [SB2689 Detail]

Download: Mississippi-2018-SB2689-Introduced.html

MISSISSIPPI LEGISLATURE

2018 Regular Session

To: Universities and Colleges; Finance

By: Senator(s) Blount

Senate Bill 2689

AN ACT TO AUTHORIZE THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF HIGHER LEARNING TO APPROVE LONG-TERM CONTRACTS THAT PERMIT PARTNERSHIPS BETWEEN STATE INSTITUTIONS OF HIGHER LEARNING AND PRIVATE REAL ESTATE DEVELOPERS; TO PROVIDE THAT AN APPROVED CONTRACT SHALL NOT BE CANCELLED BY SUCCESSOR BOARDS OF TRUSTEES BASED ON THE BINDING SUCCESSOR DOCTRINE; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. (1) The Board of Trustees of State Institutions of Higher Learning is authorized to approve leases, management agreements and other associated contracts between state institutions of higher learning and private real estate developers. The term of any contract approved under this section shall not exceed forty (40) years. Additionally, a contract approved under this section shall not be cancelled by successor boards based on the binding successor doctrine.

(2) A contract presented for approval must meet the following conditions:

(a) The leases, contracts or management agreements are for the purpose of partnering with one or more private developers to build, demolish, renovate or furnish facilities for the benefit of any state institution of higher learning;

(b) Prior to the execution of any leases or contracts with a private developer associated with the proposed project or partnership, the Board of Trustees shall hire an independent professional to perform an analysis and prepare a report, for the Board of Trustees' consideration, regarding whether the proposed project and partnership, including the estimated expenses associated with same, are in the best interests of the subject institution and the State of Mississippi. The Board of Trustees, in its discretion, shall determine whether the proposed project is in the best interests of the subject institution and the State of Mississippi and shall record its determination within its minutes;

(c) The Board of Trustees must require the subject institution to utilize a competitive process for the selection of a private developer;

(d) The subject institution must obtain prior approval from the Board of Trustees for the competitive process the institution proposes using in procuring a private developer; and

(e) The subject institution must obtain prior approval from the Board of Trustees in order to contract with the private developer for such private development.

(3) The procedure set forth in this section shall not require the approval of any other entities and shall be separate and apart from any other statutory authorizations for use in public-private partnerships for construction projects.

SECTION 2. This act shall take effect and be in force from and after July 1, 2018.