Posts Tagged ‘debt’

City holding more than quarter-million-dollar debt for yard work

VICKSBURG — The City of Vicksburg has $286,370 in uncollected debt on its books that some city officials say it might never fully recover. It’s money the city says 143 property owners owe for cutting, cleaning, clearing, and, in some cases, removing buildings from 238 parcels between 2009 and May. The State of Mississippi owns […] [...]

New mayor: City ‘is in serious trouble’

ITTA BENA, Miss. (AP) — Thelma Collins becomes mayor of the town of Itta Bena on July 1. Along with the job, she inherits a $500,000 debt. “The city of Itta Bena is in serious trouble,” Collins told the Greenwood Commonwealth. If the issues are not resolved, she said, “all of us will be shut […] [...]

Supervisors vote to add yet another bond issue

MERIDIAN — As Lauderdale County officials prepare to pay off one bond issue, supervisors voted this week to add another $14 million bond issue for city and county recreation projects, as well as courthouse renovations. Before the board of supervisors’ action this week, there were 11 outstanding bond issues currently being paid for in the […] [...]

Opponents of recreational bonds fail to get needed signatures

MERIDIAN — Opponents to a $14-million bond issue in Lauderdale County have fallen short of their goal to force a countywide election on the proposal. The Meridian Star reports the county circuit clerk completed the process of verifying signatures on a petition Wednesday. Circuit Clerk Donna Jill Johnson says there were 1,338 valid signatures that […] [...]

Schools want tax money; district in near $1M hole

NATCHEZ — The Natchez-Adams School District may ask taxpayers for more money next year. “The question now is how much and not if,” school board President Wayne Barnett said. “When (Superintendent Frederick) Hill looks at you and says, ‘I’ve cut all I can cut without affecting the quality of education,’ you have to listen to […] [...]

Real estate firm sees earnings, revenue rise while debt falls

JACKSON — EastGroup Properties’ profit rose in the first quarter as revenues rose and debt payments fell. The real estate investment trust said quarterly profit rose 32 percent to $7.2 million, or 24 cents per share in the three months ended March 31. That’s up from $5.4 million, or 19 cents per share, in 2012’s […] [...]

Legislators comfortable with nearly $200M bond package

JACKSON — Top Mississippi lawmakers say they’ve agreed on a bond package of about $200 million for the coming year. Senate Finance Committee chairman Joey Fillingane says that includes about $96 million to be divided among the eight universities, including the University of Mississippi Medical Center. The package also has about $25 million for community […] [...]

TROTTER: Dealing with the issues of debt

by Published: March 29,2013

Tags: bankruptcy, Business Week, debt, Ike Trotter

A couple of years back, an article in Business Week caught my attention by stating that older Americans -those identified as 55 and over, are filing for bankruptcy at a faster rate than the general population today. Even more surprising in this category would be the inclusion of those raised during the Depression and World […] [...]

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 […] [...]

State House gives nod to $184M in bonds

JACKSON — House members want the state to borrow more than $184 million, mainly for new buildings at Mississippi’s community colleges and public universities. The House passed bills to borrow $120 million for universities, $25 million for community colleges and $3 million for a statewide community college headquarters. Members also agreed to borrow $5 million […] [...]

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