MS SB2187

Extends the maximum maturity period for county investments in certificates of deposit from one year to five years.

Allows counties to invest excess funds in state and federal bonds or other obligations even when they are able to invest in certificates of deposit, removing the previous restriction that bonds could only be used when certificates of deposit were unavailable.

Clarifies that bonds or obligations purchased may have any maturity date, provided they mature or become redeemable before the funds are needed for expenditure.

Specifies how interest earned from different types of investments must be handled, including requirements for federal fiscal assistance funds, school bonds, and special purpose funds.

Requires that excess funds invested in certificates of deposit or interest-bearing accounts be secured according to Section 27-105-315 and reinvested at maturity unless needed for current operations.