Posts Tagged ‘bond’

Fitch gives state ‘negative’ bond rating; has problems with PERS

by Associated Press Published: November 6,2013

Tags: bond, credit, credit rating, debt, Fitch, PERS, State of Mississippi

JACKSON — The Fitch credit rating agency has downgraded Mississippi’s bond rating outlook from stable to negative. The state’s bond rating remains AA+, only one notch below the highest AAA level, but the agency warns the rating could be lowered unless officials take steps to shore up finances. A lower bond rating would make it […] [...]

Trustmark wins bid to handle bonds for SportsPlex construction

GREENVILLE — The Washington County Board of Supervisors has accepted a bid from a Jackson bank to handle a $3-million bond issue to finance the construction of the first phase of the Delta Sportsplex. Trustmark National Bank offered a 3.62 percent interest rate on a 15-year repayment plan. Revenue generated from the county’s hotel tax […] [...]

City approves bonds for roads for shopping center

D’IBERVILLE — The D’Iberville City Council approved about $17 million in tax-increment finance bonds to build roads around The Galleria shopping center. The council approved the bonds at yesterday’s meeting. The Sun Herald reports the city used similar bonds to finance infrastructure along Sangani Boulevard and The Promenade shopping center. The new million-square-foot mall, restaurants […] [...]

Mayor proposes using rainy day money for city’s debt

TUPELO — Mayor Jason Shelton wants to use about $5 million from the city’s rainy day fund to pay off part of its $30 million in bonds. That could save up to $825,000 in interest over seven years, freeing up cash for big capital items such as fire trucks or tornado sirens, he told The […] [...]

Bank agrees to underwrite bonds for Delta town

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 […] [...]

Close vote expected on proposed baseball stadium

BILOXI, Miss. (AP) — The vote to finance construction of a minor league baseball stadium in downtown Biloxi is expected Tuesday after a public hearing and it’s expected to be close. The state contributed a $15 million grant from BP to build the stadium. The council now must decide if the city should back a […] [...]

Officials mull bond issue for road enhancements

SOUTHAVEN — The widening of Getwell Road to five lanes and extending Swinnea Road are two of the road improvements for which Southaven is looking at issuing $9.5 million in general obligation bonds. The Commercial Appeal reports the Board of Aldermen will consider a resolution expressing the intent of the city to issue bonds not […] [...]

County wins in court in lawsuit challenging bond issue

MERIDIAN — A judge has ruled that Lauderdale County did nothing wrong in the handling of a $14-million bond issue. Chancery Judge Larry Primeaux issued the ruling yesterday. If there is no appeal, the board of supervisors can move forward on the bonds. The county plans to fund recreational projects and improvements to the courthouse. […] [...]

Judge weighing decision in bond issue petition

MERIDIAN — A judge will decide whether Lauderdale County officials erred in not calling an election on $14-million bond issue after a petition was filed by opponents. Chancery Judge Larry Primeaux heard arguments yesterday from county officials and opponents to the bond issue. Primeaux said he would rule later on whether the June approval of […] [...]

Hearing set to begin next month in lawsuit over county bonds

MERIDIAN — A Lauderdale County judge will hear arguments Sept. 10 in a lawsuit challenging the county’s plan to borrow $14 million for courthouse renovations and for three recreational facilities. The county board of supervisors voted in June to issue the bonds. WTOK-TV in Meridian reports that a lawsuit against the bond issue was filed […] [...]

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