OKTIBBEHA COUNTY — Former Mississippi State basketball coach Rick Stansbury and a business partner will lease about 312 acres of 16th Section school land in Oktibbeha County for $31,290 annually.
The county school board had rejected an earlier proposal involving 400 acres from Stansbury and partner John Barnett because the rental fee was too low.
The Commercial Dispatch reports Stansbury and Barnett have not said what they will do with the property. The lease runs for 25 years.
The property includes Oktibbeha County Lake and a campground area featuring campsites, boat ramps, and picnic areas.
The land was once leased by the Mississippi Department of Wildlife, Fisheries and Parks. The agency gave up the property to the local school system in April after declining to renew its lease.
Oktibbeha County Board of Supervisors President Orlando Trainer said now that the school district’s portion is leased, the supervisors need to find someone to sign a lease for the remainder of the 16th section land — about 95 acres — near the lake.
Trainer said Stansbury and Barnett have been invited to talk with the board of supervisors about the remaining acreage.
“Hopefully we can come to some sort of an agreement,” Trainer said. “If we don’t, then it will leave us in somewhat of a quagmire … managing that land is a big responsibility.”
The 16th Section of each 36-square-mile township belongs to the schools and must be used for the benefit of public education. The leaseholders may own the buildings or houses but not the land they are on. They can lease the property and must pay property taxes.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info