MS HB4110

Authorizes Oktibbeha County Board of Supervisors to establish the Oktibbeha County Reserve and Trust Fund as a permanent endowment using net proceeds from the sale of OCH Regional Medical Center, with the Board serving as trustees.

Requires the county to contract with a qualified institutional fiduciary (bank or trust company) to manage investments under the Mississippi Uniform Prudent Investor Act, with fees capped at 0.5% of fund assets annually.

Limits annual distributions to 85% of earnings, calculated as no more than 4% of the fund's average market value over the preceding 36 months, with proceeds going to a separate fund for general county operations, maintenance, and capital improvements.

Restricts corpus withdrawals to 5% per fiscal year for extraordinary capital needs, requiring a 4/5 supermajority board vote, fiduciary certification, 30-day public notice, and written findings that no alternative funding exists.

Mandates that any invasion of the corpus suspends all earnings distributions until the inflation-adjusted principal is fully restored, with a restoration plan filed with the Attorney General and Chancery Court within 90 days.