MS SB2865

Adams County Board of Supervisors is authorized to purchase the Public Employees' Retirement System (PERS) claim against Natchez Regional Medical Center for unpaid employer contributions totaling $448,160.38.

PERS is directed to sell and assign its claim to Adams County upon payment of $448,160.38, accepting this as full settlement including all penalties and interest.

Upon payment, PERS shall administer retirement benefits for covered hospital employees as if all employer contributions had been timely made and received.

Adams County is authorized to borrow funds and issue notes, certificates of indebtedness, or bonds for up to 10 years, secured by county full faith and credit, with repayment through any lawfully available funds or special county tax levy.

Bonds and their income are exempt from Mississippi state income taxation and excluded from the county's statutory debt limitation under Section 19-9-5, Mississippi Code of 1972.