City puts Magnolia Bluffs money in short-term CD
Published: January 10,2013
Tags: budget, casino, certificate of deposit, city, convention, entertainment, gamble, gambling, gaming, government, hotel, investment, lodging, meeting, nightlife, restaurant, tourism, tourist, vacation, visitor
NATCHEZ — The Natchez Board of Aldermen is considering in motion to put the $350,000 the city recently received from Magnolia Bluffs Casino in a certificate of deposit.
The Natchez Democrat reports Alderman Dan Dillard made a motion to put money into a short-term CD until the board could finalize a plan for the money.
The funds are the final payment of the casino’s $1 million annual lease payment.
The board ultimately decided Tuesday to table the topic until a work session could be scheduled to discuss a plan for the casino money.
Dillard noted that the city has its first opportunity in a long time to set up a rainy day fund.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Officials set hunting dates for birds; expands dove season by 20 days
- Brandon man hauls in record 756-pound alligator
- Is cotton looking too good? Farmers facing weaker prices
- Woman found guilty of murder in buttocks injection case
- REVVING UP — Motorcars of Jackson is preparing to open its first-ever showroom on I-55
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- FLIPPING OUT — Flipping houses is popular in much of the country, but in Mississippi ...
- Mississippi judge dismisses lawsuit seeking to overturn Sen. Cochran's GOP primary win
- Healthcare Marketplace to look much the same in 2015