Miss. Code Ann. § 29-3-151

The purpose of Sections 29-3-151 through 29-3-183 is to authorize the improvement, development, management and maintenance of sixteenth section lands, or lands granted in lieu thereof, within any county in Mississippi with a population in excess of two hundred thousand (200,000) at the time of the 1970 census, in order that such lands may be made suitable for leasing for commercial, industrial, and/or recreational use, including the authority necessary to finance the improvement and development thereof and to manage, maintain and lease said lands in order to derive the maximum public benefit and to earn maximum income from the lands for the public schools receiving the income. No lease shall be for a term in excess of twenty-five (25) years.