Oktibbeha County Reserve and Trust Fund Authorization
Summary
Mississippi HB4110 was signed into law, authorizing Oktibbeha County to establish a Reserve and Trust Fund for proceeds from the sale of Och Regional Medical Center. At least 80% of sale proceeds must be deposited into the fund, which will be managed by the Board of Supervisors as trustees with a qualified institutional fiduciary providing investment advisory services.
What changed
The bill authorizes Oktibbeha County, Mississippi to create a Reserve and Trust Fund to receive proceeds from the sale of Och Regional Medical Center, which the county owns. The legislation requires that not less than 80% of net proceeds from the sale be deposited into this fund. The Board of Supervisors will serve as the Board of Trustees for the fund and must contract with a qualified institutional fiduciary to provide investment management and advisory services. A percentage of fund earnings may be transferred to the Oktibbeha County Och Proceeds Fund for county purposes including general operations, maintenance, and capital improvements.\n\nOktibbeha County officials should proceed with establishing the fund structure as directed by the legislation. The Board of Supervisors must identify and contract with a qualified institutional fiduciary to manage investments. The trustees should develop policies governing fund distributions while maintaining strict limitations on withdrawals from the corpus. This is a local/private bill specific to one county and does not impose compliance requirements on entities outside Oktibbeha County.
What to do next
- Establish the Oktibbeha County Reserve and Trust Fund per the legislation
- Contract with a qualified institutional fiduciary for investment management services
- Develop investment policy and distribution guidelines for the fund
Source document (simplified)
ChangeBridge / Mississippi / HB4110 Signed by Governor HB4110 House Bill Signed by Governor 2026-04-06
Oktibbeha County; authorize the establishment of the Oktibbeha County Reserve and Trust Fund for deposit of net proceeds from sale of certain medical center.
An Act To Authorize And Direct The Board Of Trustees Of Oktibbeha County, Mississippi, To Establish A Reserve And Trust Fund; To Provide That Not Less Than 80% Of The Proceeds From The Sale Of Och Regional Medical Center, Which Is Owned By The County, Shall 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 Oktibbeha County; To Require The Trustees To Contract With A Qualified Institution Fiduciary To Provide Investment Management And Advisory Services For The Fund; To Prescribe Certain Earnings And Annual Distributions Of The Fund; To Provide That A Certain Percentage Of The Earnings May Be Transferred To The Oktibbeha County Och Proceeds Fund For Appropriation By The Board Of Supervisors For Any Lawful County Purposes, Including General Operations, Maintenance And Capital Improvements; To Provide Strict Limitations For Withdrawals From The Corpus; And For Related Purposes.
Bill Details
State Mississippi
Session 2026 Regular Session
Chamber House
Official Source billstatus.ls.state.ms.us/2026/pdf/history...
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Sponsors
Rob Roberson (Rep - R)
Action History
2026-04-06 S Enrolled Bill Signed 2026-04-06 H Enrolled Bill Signed 2026-04-01 H Concurred in Amend From Senate 2026-03-31 S Returned For Concurrence 2026-03-29 S Passed As Amended 2026-03-29 S Amended 2026-03-26 S Title Suff Do Pass As Amended 2026-03-24 S Referred To Local and Private 2026-03-24 H Transmitted To Senate 2026-03-23 H Passed 2026-03-18 H Title Suff Do Pass 2026-02-26 H Referred To Local and Private Legislation
Votes
2026-03-23 House Passed Yea: 119 Nay: 0 2026-03-29 Senate Passed As Amended Yea: 50 Nay: 0 2026-04-01 House Concurred in Amend From Senate Yea: 120 Nay: 1
Committee Referrals
2026-02-26 H Local and Private Legislation 2026-03-24 S Local and Private
Amendments
0000-00-00 Senate Committee Amendment No 1 0000-00-00 Senate Substitute No 1 for Committee Amendment No 1
Bill Text Versions
2026-02-27 Introduced 2026-03-24 Engrossed 2026-04-06 Enrolled Legislative data powered by LegiScan (CC BY 4.0)
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