Posts Tagged ‘borrow’

Moody’s cuts Coast city’s credit rating, cites cash reserves

GULFPORT — A credit agency has cut Gulfport’s rating by a notch. Moody’s Investors Service says the city’s cash reserves are suffering because of hurricane recovery projects the city hasn’t collected federal money for and because sales tax collections are lagging. John Kelly, Gulfport’s chief administrative officer, tells the Sun Herald the lower rating means […] [...]

City borrowing from gas fund to meet obligations

OLIVE BRANCH — Olive Branch officials will borrow $1 million from the city’s natural gas fund to meet financial obligations. Mayor Sam Rikard tells the Commercial Appeal the funds would be repaid with interest once property tax collections come in. It’s not uncommon for cities to take out tax anticipation loans. Officials may borrow from […] [...]

Committee chair vows to work on bond package next session

JACKSON — The Mississippi House and Senate will try to agree on a package of long-term borrowing next year, after failing to authorize one this past spring, a top lawmaker said. Senate Finance Committee chairman Joey Fillingane, R-Sumrall, said leaders want to cover the state’s needs without creating too much bond debt. The state issues […] [...]

Mayor wants vote on proposed sports complex

VICKSBURG — Mayor Paul Winfield has resurrected his plan for a sports complex and wants to put it before the voters on the June 2013 ballot. The Vicksburg Post reports in a meeting last week on the budget for fiscal year 2012-13 fiscal year budget Winfield said he would introduce the issue to the three-member […] [...]

County borrowing money for multiple bridge repair projects

MCCOMB — Pike County will borrow $5.5 million to work on local bridges. The Enterprise-Journal reports supervisors acted this past week after agreeing to advertise for bids to replace the bridge over the Tangipahoa River at Chatawa, work that will be paid for by bond funds. Keith Lott of Neel-Schaffer engineering firm said the expected […] [...]

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