MS SB2702

Authorizes the Board of Supervisors of Lowndes County to establish a 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, with the board president as chairman and vice president as vice chairman, plus an optional three-member advisory committee with investment expertise.

Divides the fund into a corpus component (principal, which remains inviolate except under specified circumstances) and an earnings component (annual investment income available for county spending).

Allows up to 85% of annual earnings to be transferred to the county's general fund for designated "special" projects, with remaining earnings added back to the corpus.

Permits the Board of Supervisors to withdraw up to 5% of the corpus annually or any amount during declared emergencies, with earnings retained to replenish the corpus until fully restored.