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Residents urge Oktibbeha County to put hospital sale proceeds into permanent trust
Summary
Multiple residents delivered petitions and public comment asking Oktibbeha County supervisors to place the roughly $55–58 million from the sale of the county hospital into a permanent reserve or endowment rather than spending it for recurring expenses; the board acknowledged the comments and staff said trust legislation is being drafted.
Several Oktibbeha County residents urged supervisors to protect the proceeds from the recent sale of the county hospital by placing the funds into a permanent reserve or trust instead of using the money for ongoing operating costs.
Buddy Staggers, who identified himself as a third-generation county resident, told the Board the windfall is a "once in a lifetime" opportunity. "What we do with this $58,000,000 pot of money that's fallen into our lap is multi-generational," Staggers said, arguing that "you don't use one-time money like $58,000,000 to go do recurring things."
Another speaker representing a local partnership told the board the proceeds likely total between $55 million and $58 million and recommended investing the full amount to create a sustainable revenue stream for future projects: "We passed a resolution asking you to consider the full investment of that because we do think that it represents a one-time long-term meaningful source of income for you," the representative said.
Petitioners said they had submitted about a dozen pages of signatures urging the supervisors to establish a reserve and trust modeled on other counties' funds. One presenter cited the Lowndes County Reserve and Trust Fund as an example of a multi-decade strategy to provide recurring revenue for infrastructure and county needs.
Board members moved to "acknowledge" the public comments; motions to do so passed unanimously. County staff told the board they will research appropriate financial vehicles and engage experts before the board decides how to proceed. A staff speaker also said legislation to create a trust "has already been put in the works," and that the county plans to take time to evaluate options rather than rush into an investment.
The board did not vote on any specific allocation or formal trust structure at the meeting. Next steps recorded in the meeting record: staff and the county attorney will continue research, consult financial advisers, and return with options for board consideration and any necessary enabling resolutions.
