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Law gives county investment option in selling of hospital

COLUMBUS — Lowndes County will have more flexibility to invest funds from the sale of a local hospital under a bill signed by Gov. Phil Bryant.

The Commercial Dispatch reports the county had invested the $30 million it received from the 2001 sale of the county hospital in a certificate of deposit. The 5.2 percent interest the county initially drew from the money dwindled to 0.19 percent before the passage of Senate Bill 2702.

Board of Supervisors president Harry Sanders says the bill will allow the county to invest the money to get a higher return.

Sanders says the money could be used for school bonds, county bonds and federal bonds but the county had to get special legislation to do that.

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