Posts Tagged ‘borrow’

State’s consumers in line for payments under SunTrust settlement

JACKSON — Attorney General Jim Hood says Mississippi consumers will be eligible for payments under a settlement between 48 states, the federal government and SunTrust. The U.S. Justice Department said yesterday the $968-million settlement resolves allegations that SunTrust underwrote and provided faulty mortgage loans. The federal government accused SunTrust of giving borrowers false and misleading […] [...]

KiOR borrows $25M; avoids defaulting on loan

COLUMBUS — Alternative-fuel maker KiOR Inc. has borrowed enough money to keep operating through August. The Pasadena, Texas, company, which has a $225-million plant in Columbus, had warned last month that it had to raise more money for research and plant improvements. KiOR, in a stock filing today, said it had completed a deal to […] [...]

House members add more than $61m to Senate’s bill

JACKSON — Mississippi lawmakers are moving toward negotiations on state borrowing in the 2015 budget year. House members yesterday added $61.2 million before passing Senate Bill 2975. Representatives are seeking $30 million to allow the North Central Mississippi Regional Rail Authority to buy a rail line, $20 million to aid Tupelo’s Cooper Tire and Rubber […] [...]

Report: State could afford to borrow $1.8B over next five years

JACKSON — Mississippi could borrow $1.8 billion to use for new buildings, highways and economic development incentives over the next five years and rising state revenue probably could support that amount of borrowing, a report by Treasurer Lynn Fitch suggests. The Republican state treasurer compiled a debt-affordability study after agencies that rate Mississippi’s bonds said […] [...]

County to borrow $24M for wood pellet terminal at port

PASCAGOULA — Jackson County supervisors have voted to borrow $24 million for the Port of Pascagoula’s wood pellet exporting terminal. The Mississippi Press reports that the board of supervisors acted yesterday after no one showed up for a public hearing. The terminal will handle wood pellets from a plant that is supposed to be built […] [...]

City borrowing for convention center improvements

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 […] [...]

Council gives nod to borrowing for downtown baseball stadium

BILOXI — The Biloxi City Council has voted 5-2 on a resolution that could lead to the borrowing of $20 million for the construction of an athletic stadium. Councilmen George Lawrence and David Fayard voted against the plan. WLOX-TV in Biloxi reports Councilman Ed Gemmill told other council members that a downtown baseball stadium would […] [...]

Supervisors want to borrow money for future development

STARKVILLE — Oktibbeha County supervisors have passed a resolution to let the public know it will borrow $5 million when needed to support an economic development opportunity. Supervisors took the action this week at the urging of the Golden Triangle Development LINK, a local economic development group. The county would borrow the money by issuing […] [...]

Co-op refunds $12M-plus to member-borrowers

RIDGELAND — In April, member-borrowers of First South Farm Credit will receive patronage refund checks for 2012 totaling more than $12 million as part of the patronage refund program. Daniel Viator, chairman of the First South board of directors, said, “This is the 18th consecutive year we’ve paid a patronage refund. Over that period of […] [...]

Moody’s downgrades city’s bond rating

by Published: March 7,2013

Tags: bond, bond rating, borrow, city, debt, finance, loan, municipal, municipality

NATCHEZ — The City of Natchez has received a slight downgrade to its bond rating. The Natchez Democrat reports the Moody’s Investors Service downgraded the city’s general obligation bond rating from A1 to A2. City financial adviser Demery Grubbs said the move should have no effect on the city’s capacity to borrow money. He said […] [...]

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