Jackson State University shall acquire possession of, operate, maintain and improve the Mississippi Veterans Memorial Stadium until such time that Jackson State University relocates its home football games to another venue, in accordance with the provisions of this section and Sections 55-23-6 and 55-23-8. Jackson State University shall employ such agents and employees as may be required in connection therewith. All personnel of the Mississippi Veterans Memorial Stadium Commission shall be transferred from the Department of Finance and Administration to Jackson State University. Jackson State University may enter into contracts for the use of the stadium, and fix the amount of the compensation therefor, and collect the same when due.

Any personal service, management or other contracts of like nature entered into by the Department of Finance and Administration that are applicable to the Mississippi Veterans Memorial Stadium, in whole or in part, shall be transferred to, acknowledged and complied with by Jackson State University for the term of such contracts.

All monies and revenues, including the amusement tax imposed upon the sale of tickets for admission to the stadium, and all other events on stadium property designated for Jackson State University and all monies arising from other use of stadium property, including that realized from the sale of concessions, shall be retained by Jackson State University for the operation, maintenance and improvements to the Mississippi Veterans Memorial Stadium and for the support of intercollegiate athletics at such university. Jackson State University shall seek appropriate state funding through the Department of Finance and Administration for completion by the Bureau of Building, Grounds and Real Property for all expenses incident to the necessary safety, repairs and renovations as determined by the Department of Finance and Administration to the Mississippi Veterans Memorial Stadium.

All tickets sold to an event conducted in the Mississippi Veterans Memorial Stadium shall have printed in an appropriate and prominent place thereon the words A.C. “Butch” Lambert Field.