HB 1121

AN ACT TO AUTHORIZE JACKSON STATE UNIVERSITY TO PLAN, DESIGN, CONSTRUCT, OWN AND OPERATE A FOOTBALL STADIUM AT A LOCATION SEPARATE AND INDEPENDENT FROM THE MISSISSIPPI VETERANS MEMORIAL STADIUM PROPERTY; TO REQUIRE THE UNIVERSITY TO RAISE A MINIMUM AMOUNT OF PRIVATE OR NONSTATE FUNDS AS A CONDITION PRECEDENT TO STATE PARTICIPATION IN CONSTRUCTION COSTS, SUBJECT TO LEGISLATIVE APPROPRIATION; TO AUTHORIZE THE SALE, LEASE AND USE OF ADVERTISING AND NAMING RIGHTS FOR THE STADIUM AND STADIUM PROPERTY; TO CREATE THE JACKSON STATE UNIVERSITY STADIUM CONSTRUCTION FUND AND PROVIDE FOR THE DEPOSIT AND EXPENDITURE OF CERTAIN FUNDS THEREIN; TO AMEND SECTIONS 55-23-1, 55-23-5, 55-23-6, 55-23-7 AND 55-23-19, MISSISSIPPI CODE OF 1972, IN CONFORMITY TO THE PRECEDING PROVISIONS, TO REVISE LEGISLATIVE FINDINGS, PROVIDE FOR THE TRANSITION AND DISSOLUTION OF THE MISSISSIPPI VETERANS MEMORIAL STADIUM COMMISSION UPON COMPLETION OF A JACKSON STATE UNIVERSITY STADIUM, PROVIDE FOR THE TRANSFER OF PROPERTY, POWERS AND DUTIES RELATING TO THE MISSISSIPPI VETERANS MEMORIAL STADIUM PROPERTY, AUTHORIZE AND REGULATE THE DEMOLITION OF VETERANS MEMORIAL STADIUM, ASSIGN EXCLUSIVE FINANCIAL RESPONSIBILITY FOR DEMOLITION TO THE UNIVERSITY OF MISSISSIPPI MEDICAL CENTER WITHOUT USE OF STATE GENERAL FUND MONIES, AND PROVIDE FOR CERTIFICATION AND FISCAL SAFEGUARDS; TO BRING FORWARD SECTIONS 55-23-8 AND 55-23-11, MISSISSIPPI CODE OF 1972, FOR PURPOSES OF CONTINUITY; AND FOR RELATED PURPOSES.