House Bill 997

AN ACT TO AUTHORIZE THE BOARD OF SUPERVISORS OF LOWNDES COUNTY, MISSISSIPPI, TO ESTABLISH A RESERVE AND TRUST FUND; TO PROVIDE THAT PROCEEDS RECEIVED BY THE COUNTY AS A RESULT OF THE SALE OF HOSPITAL FACILITIES OWNED BY THE COUNTY MAY BE DEPOSITED INTO THE FUND; TO PROVIDE FOR THE ESTABLISHMENT OF THE BOARD OF TRUSTEES OF THE RESERVE AND TRUST FUND AND PROVIDE THAT ITS MEMBERSHIP SHALL BE THE MEMBERS OF THE BOARD OF SUPERVISORS OF LOWNDES COUNTY; TO PROVIDE FOR THE POWERS AND DUTIES OF THE BOARD OF TRUSTEES; TO PROVIDE FOR THE INVESTMENT OF THE ASSETS OF THE TRUST FUND; TO PROVIDE THAT THE FUND SHALL BE DIVIDED INTO A CORPUS COMPONENT AND AN EARNING COMPONENT; TO PROVIDE THAT THE CORPUS COMPONENT SHALL REMAIN INVIOLATE EXCEPT AS OTHERWISE PROVIDED IN THIS ACT; TO PROVIDE THAT THE EARNINGS COMPONENT SHALL BE TRANSFERRED FROM THE TRUST FUND TO THE GENERAL FUND OF THE COUNTY AND SHALL BE AVAILABLE FOR APPROPRIATION AND SPENDING BY THE BOARD OF SUPERVISORS OF THE COUNTY; TO AUTHORIZE MONEY FROM THE CORPUS OF THE TRUST TO BE EXPENDED BY THE COUNTY UNDER CERTAIN CIRCUMSTANCES; AND FOR RELATED PURPOSES.

In the House of Representatives

• Jeffrey C. Smith

  Sponsor

l9n doesn't hold this bill's text yet.

In the House of Representatives Jan 21 – Apr 4

1. Jan 21Referred to the House committee on Local and Private Legislation
2. Apr 4Died in committee in the House