Bank agrees to underwrite bonds for Delta town
Published: October 6,2013
LELAND — Planters Bank and Trust Co. will underwrite the sale of $1.5 million in bonds for the city of Leland.
The Delta Democrat Times reports the Board of Aldermen accepted the company’s bid this past week.
Planters’ bid was the only one the city received for the bond issue, which will be used to pay for resurfacing of several streets.
The bond was first proposed in early 2012, but the process stopped in September 2012 when the board could not fit the projected $150,000-per-year repayment cost into the 2012-13 budget.
The current budget includes repayments, which City Attorney Josh Bogen says should be made for 10 years.
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