MS HB1632

Authorizes the Board of Trustees of the Coahoma County Reserve and Trust Fund to delegate authority to sell, assign, transfer, and dispose of securities and investments to investment advisors

Changes the earnings component calculation from a percentage of "annual interest" to a percentage of "income" (including capital gains, interest, and dividends) earned on the corpus component

Permits trustees to expend from the corpus component if the earnings component is insufficient to pay fund management costs, including accounting fees, legal fees, and investment advisor fees

Transfers authority to direct the transfer of the earnings component to the county general fund from the Clerk of the Board of Supervisors to the Board of Supervisors itself

Removes the definition of "Clerk" from the act and re-letters the remaining definitions accordingly