Law gives county investment option in selling of hospital
Published: April 8,2013
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.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- (UPDATE) Prison won’t interrupt ex-prison chief’s retirement cash flow
- JOSH MABUS — Inbound marketing is fueled by wishful thinking
- 2014 a good year for filmmaking in Mississippi
- Kemper plant employee gag order continued
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- WRESTLING SUCCESS — Ted DiBiase Jr. leaves ring to become entrepreneur
- MARTIN WILLOUGHBY — Doug Dale’s self-awareness helps lift him to top of his game
- Ex-prison boss and businessman admit to bribery scheme
- (UPDATED — BREAKING NEWS) American Specialty Alloys won’t locate $1.2B mill in Mississippi