MS HB900

Authorizes Lowndes County Board of Supervisors to establish the Lowndes County Reserve and Trust Fund and deposit proceeds from the sale of county-owned hospital facilities into the fund.

Establishes a Board of Trustees composed of the Board of Supervisors members to administer and manage the fund, with the board president as chairman and an optional three-member investment advisory committee.

Divides the fund into a corpus component (principal, kept inviolate) and an earnings component; allows up to 85% of annual earnings to transfer to the county general fund for designated special projects, with remainder added to corpus.

Permits the Board of Supervisors to withdraw up to 5% of the corpus annually or any amount during declared emergencies; earnings disbursements must cease and all income must be retained until the corpus is fully replenished.

Fund investments must comply with Mississippi Prepaid Affordable College Tuition Program guidelines under state law, with authority to use up to 10% of the fund to purchase tax-foreclosed county lands.