MS HB1586

Amends the Coahoma County Reserve and Trust Fund to authorize the Board of Supervisors to withdraw up to $2,000,000 from the fund's corpus to pay for equipment, installation, roadwork, and professional services for a justice complex/jail facility, E911 facility, and new central fire station.

Authorizes withdrawal of up to $2,000,000 from the fund's corpus for partial costs of constructing the Jonestown Bypass to Highway 316 and obtaining required real property interests for the project.

Requires that if any corpus withdrawal occurs, all earnings from the fund must be retained and used to repay the corpus until it returns to its full amount before disbursements of earnings can resume.

Maintains existing provisions allowing 5% annual withdrawals from the corpus and withdrawals for declared state or local emergencies, plus up to $500,000 for the 2018-2019 fiscal year due to lease payment delays from the medical center lessee's bankruptcy.

Authorizes the Board of Supervisors to establish an advisory committee of three individuals with investment expertise to advise the trustees on fund management.