MS HB1734

Expands investment options for the City of Oxford Municipal Reserve and Trust Fund by requiring trustees to invest in accordance with the Mississippi Uniform Prudent Investor Act under Section 91-9-601, et seq., rather than previous limited investment categories.

Maintains the fund's two-component structure: a corpus component (principal) that remains inviolate and an earnings component that equals 3% of the full fund balance annually, with remaining income added to corpus.

Authorizes the Board of Trustees (nine members including mayor, mayor pro tem, one alderman, and six appointed members) to manage the fund and establish a comprehensive investment plan.

Permits corpus withdrawals by the city with three-fourths board approval during emergencies or when budgeted collections fall more than 5% below estimates for three consecutive months, with earnings reinvested until corpus is restored.

Allows corpus withdrawals up to 10% with unanimous board approval once per four-year term, contingent on public hearing and full repayment before subsequent withdrawals.