City of Oxford; clarify earnings component definition and authorized contributions under municipal reserve and trust fund.

Updated terminology and clarified definitions for terms like 'Trustees', 'Income', and 'Fund' to align with current legislative standards.

Revised trustee board composition from nine members with specific roles to include mayor, mayor pro tem, one alderman, and six appointed members with staggered terms.

Mandated annual public reporting of fund status and financial conditions by July 1 each fiscal year.

Established a formal earnings component equal to 3% of the full fund balance annually, separate from the inviolate corpus component.

Created specific conditions for withdrawing corpus funds, including emergency declarations and budget shortfalls exceeding 5% for three consecutive months.

Set clear term lengths, start dates (August 1), and reappointment rules for all trustees with provisions for vacancy filling.