Ellington

HATTIESBURG, Miss. (AP) — The University of Southern Mississippi has received $432,307 from a settlement agreement reached in 2002 resolving long standing land issues on a piece of property located at Point Cadet in Biloxi.

As part of the settlement agreement, funds generated from rents on the Point Cadet property are distributed among the state, USM and the City of Biloxi.

Secretary of State Delbert Hosemann says in a news release the money is to be used at the Gulf Coast Research Laboratory in Ocean Springs.

Hosemann says it will allow USM to dedicate more funds to rebuilding the Hattiesburg campus damaged in a February tornado.

Including this payment, over $2.8 Million has been distributed to USM as part of the settlement.