Posts Tagged ‘State of Mississippi’

KiOR could owe state entire $69.4M debt plus interest

COLUMBUS — Mississippi has warned biofuel maker KiOR that it could demand immediate repayment of the company’s entire $69.4 million debt to the state, plus $8 million in interest, if the company doesn’t make its loan payment before a grace period runs out. Marlo Dorsey, a spokeswoman for the Mississippi Development Authority, said the state […] [...]

Deadline passes and state receives no payment from KiOR

COLUMBUS — Mississippi officials say they didn’t get any money from faltering biofuel firm KiOR on Friday, the deadline for the company to make a $1.9 million debt payment. KiOR, based in Pasadena, Texas, has a grace period of three business days to make the payment, so it wouldn’t officially break its agreement until midnight […] [...]

State renews water fight with city of Memphis

JACKSON — Mississippi officials are renewing allegations that Memphis is stealing water from the state. The U.S. Supreme Court refused in 2010 to consider a similar claim. The Commercial Appeal reports that Mississippi is seeking at least $615 million in damages. That’s less than half the previous claim of $1.3 billion. Mississippi alleges that Memphis’ […] [...]

House votes for transfer of Yellow Creek Port land to state

IUKA — The House of Representatives has passed by voice vote H.R. 3044, which approves the transfer of Yellow Creek Port properties in Iuka. Located on the Tennessee-Tombigbee Waterway, the Yellow Creek Port was developed for economic development purposes by the Tennessee Valley Authority (TVA) in cooperation with the state of Mississippi. “Manufacturing remains one […] [...]

Bryant asks SBA to assess flood damage in DeSoto County

DESOTO COUNTY — Gov. Phil Bryant says he’s asking the federal Small Business Administration to send teams to DeSoto County to assess flood damage from last week’s heavy rainfall. If SBA makes assistance available, it would come in the form of low-interest loans. The Mississippi Emergency Management Agency says today that 10 businesses, eight apartments […] [...]

S&P: State in top 10 in U.S. in sales tax dependency

ACROSS MISSISSIPPI — Mississippi is one of 10 states most reliant on sales taxes as a share of revenue, according to a new Standard & Poor’s report that says that such states may be particularly susceptible to an ever-widening income gap dragging down state tax revenues. Analysts with the credit rating agency believe rising inequality […] [...]

Yates leading delegation to Japan; Gov. Bryant also headed to trade conference

JACKSON — Gov. Phil Bryant is preparing to go overseas for a trade conference between officials from Japan and the southeastern United States. Bryant’s spokesman said today that the governor will attend the 37th annual meeting of the Southeast U.S./Japan and the Japan-U.S. Southeast Associations, or SEUS-Japan. The meeting takes place Sept. 18-20 in Tokyo. […] [...]

Coast family wins $644K in tideland lawsuit against state

BAY ST. LOUIS — A family that owned a beachfront restaurant in Bay St. Louis before Hurricane Katrina has won $644,000 against the state in a lawsuit, with jurors ruling land the state took to build a new small craft harbor was not state tideland but private property. Paul Scott, a lawyer for the Murphy […] [...]

State petitioning court to uphold abortion clinic law

JACKSON — Mississippi is asking a federal appeals court to uphold a 2012 state law requiring abortion clinic doctors to obtain hospital admitting privileges. In late July, a panel of the 5th U.S. Circuit Court of Appeals ruled 2-1 that the law is unconstitutional because it would close Mississippi’s only abortion clinic. Democratic Attorney General […] [...]

Tobacco company to pay $750K for contraband trafficking

BOWLING GREEN, Ky. — Kentucky-based tobacco company that makes Golden Harvest, Millennium and Red Buck cigars will pay $750,000 in restitution and forfeitures after pleading guilty to conspiracy to engage in contraband cigarette trafficking. U.S. District Judge Joseph McKinley sentenced Tantus Tobacco of Russell Springs, Kentucky, on Monday. The company will pay $200,000 to the […] [...]

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