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MS HB1605
Bill
Status
5/3/2016
Primary Sponsor
Sam Mims
Click for details
AI Summary
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Authorizes Adams County Board of Supervisors to purchase the Public Employees' Retirement System (PERS) claim against Natchez Regional Medical Center for unpaid employer contributions totaling $448,160.38
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Directs PERS to sell and assign its claim to Adams County upon payment of $448,160.38 in full settlement, including all penalties and interest
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Requires PERS to administer retirement benefits for covered hospital employees as if all employer contributions had been timely made once payment is received
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Authorizes Adams County to borrow money and issue notes, certificates of indebtedness, or bonds for up to 10 years to fund the purchase, with repayment through pledged funds or a special county tax levy
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Exempts any issued debt from statutory debt limitations and state income taxation
Legislative Description
Adams County; authorize to settle claims for obligations of former Natchez Regional Medical Center for unfunded employer retirement plan contributions.
Last Action
Approved by Governor
5/3/2016