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Tag Archives: bond

Developer accused of misusing mall bond funds

JACKSON — The Secretary of State’s Office has found Jackson developer David Watkins took funds from a mall project and diverted it to a project to build a new police station in Meridian. Yesterday, Secretary of State Delbert Hosemann announced in a news release that Watkins and his company have been order to pay restitution of $587,084, plus legal interest ...

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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 Co. plant, $5 million to ...

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Vote delayed on Coast baseball stadium bonds

BILOXI — Facing a possible tie vote, Biloxi’s baseball stadium was pulled off last night’s Biloxi Council agenda and will be taken up at special meeting next week. Five resolutions, including a vote on a $21-million bond to build the stadium, were removed from the agenda at the start of the meeting. Councilman Felix Gines is on duty with the ...

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Vote on baseball stadium bonds could come next week

BILOXI — The Biloxi Council is expected to vote next Tuesday whether to issue $21 million in bonds to build a minor league baseball stadium. The Sun Herald reports the council tabled a resolution this week to accept a $15-million grant from the state until next week’s meeting at 6 p.m. The council also tabled until Tuesday hiring Dale Partners ...

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Fitch expects state's bond debt to drop below $4B

JACKSON — State Treasurer Lynn Fitch told lawmakers yesterday that she expects Mississippi’s bond debt to drop back below $4 billion by the end of the current budget year, for the first time since 2011. She said that’s good because bond rating agencies want to know that the state is keeping its long-term debt under control. Mississippi had nearly $4.2 ...

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City wants return of auditorium ownership from state

VICKSBURG — The city of Vicksburg wants its auditorium back. The State of Mississippi currently owns the auditorium. The city deeded it to the state in 1985 to take advantage of $1.15 million in state bond money to upgrade the auditorium. The money had been earmarked in 1972 for the Sprague, which was destroyed by fire in 1974. City attorney ...

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Flaggs wants to see city restore its bond rating

VICKSBURG — Mayor George Flaggs Jr. has said several times since taking office he wanted to get Vicksburg’s bond rating restored in January. He now says city officials may wait a bit longer. “Even though I think we’re ready, I’m told that you do not want to apply unless you are ready to borrow money,” he said. “You don’t want ...

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Supervisors approve support for building port terminal

PASCAGOULA — The Jackson County Board of Supervisors has voted to support building a $30-million terminal at the Port of Pascagoula to handle wood pellets from a plant that is supposed to be built in George County starting in late 2014. The Sun Herald reports the county will handle selling up to $24 million in bonds for the terminal. But ...

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Fitch gives state 'negative' bond rating; has problems with PERS

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 more expensive for state government ...

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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 will repay the bond. Board ...

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