City borrowing for convention center improvements
by Associated Press
Published: September 19,2013
Tags: borrow, city, city council, city government, city of Columbus, construction, convention, Convention Center, finance, loan, meeting, Mississippi Development Bank, municipal, municipality, renovation, Steve Edds, Trotter Convention Center
COLUMBUS — The city of Columbus will borrow up to $2.5 million to finance renovations at the Trotter Convention Center.
The city council voted to borrow the money from the Mississippi Development Bank. The city also will use in-lieu fees from Columbus Light & Water of about $225,000 a year to service its debt.
The Commercial Dispatch reports that MDB bond counsel Steve Edds told the council that the interest rate for the loan will be 4.55 percent.
Edds says it will likely be mid-October before the city would have the money in the bank to proceed with the project.
Renovations are tentatively scheduled to be completed at the end of 2014.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- George’s Girls put shopping skills to work
- Justice Department files complaint against tax preparer
- DMR pays accounting firm more than double contract's worth
- Following ruling, Entergy to hand over records to county
- Report: State's emergency care ranks highest in Southeast
- Boyd Gaming reports drop in in-state net revenue
- Union-restricting legislation moves forward
- Chris McDaniel gets a thank you note from Travis Childers
- USM staffers Olivia Hurst and Catherine Lott recognized by Public Relations Association of Mississippi