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Bonds to go on sale to finance Ocean Expo

D’IBERVILLE — The D’Iberville City Council has passed resolutions needed to finalize the purchase of property for the Ocean Expo off Interstate 10, and float general obligation bonds to cover some of the expense.

The Sun Herald reports the property is being cleared to make way for the aquarium, and up to $4 million in bonds will be issued to pay the city’s expenses to bring the attraction to D’Iberville.

Demery Grubbs with Government Consultants Inc. of Jackson said he wants to sell the bonds before the deadline for Congress to raise the debt ceiling, which could affect interest rates.

Grubbs told the council Tuesday he hopes the interest rate on the bonds will be about 4 percent.

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