For many of us, finding ways to spend money doesn’t seem that difficult, but for the Hancock County Board of Supervisors, the financial investing and restructuring of a nearly $600,000 trust is becoming problematic due to the code of Iowa regulations on trusts.
After a court ruling last year, the Supervisors were given some legal advice on what they could use the Mokry Trust Fund to invest in. The Mokry Trust Fund was established years ago to help fund the former Duncan Heights mental health care facility that closed due to federal mandates. The board was advised they could invest the money into an endowment and use the funds for social services every year. However after finding out the code of Iowa disagrees on the investment method, Hancock County Supervisor Jerry Tlach says now the board has to go back to the drawing board on how to invest the money.