City puts Magnolia Bluffs money in short-term CD

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.

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