County takes out $650K loan, renegotiates bond terms
Published: August 7,2012
NATCHEZ — The Adams County Board of Supervisors has voted to take out a $650,000 loan to fund road work and also voted to renegotiate an approximately $2.6 million road bond to reduce the payments the county pays on the bond each year.
The Natchez Democrat reports the supervisors awarded a bid for the $650,000 “negotiable note” to Concordia Bank & Trust.
County administrator Joe Murray the original intention was to refinance the $2.6 million road bond with Trustmark National Bank and add $650,000 to the bond.
The principal payment and half of the interest payment will be due in March, and the rest of the interest payment will be due in September.
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