Pike County, further provides for City of Troy Investment Trust Fund

This bill establishes and amends the City of Troy Investment Trust Fund in Pike County, Alabama, to manage money originally derived from the sale of Edge Regional Medical Center. It designates the mayor or a designated city officer as the authorized representative and limits investments to safe options like U.S. securities and government-backed assets. The fund must split its annual income, paying 90 percent to the city's general fund while retaining 10 percent to grow the fund's principal, which can only be used for city expenses or specific purposes if approved by a two-thirds vote of city voters. Additionally, the bill allows the city to use the fund's retained income or principal to reimburse itself for future costs related to the medical center's sale and operations.