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Tag Archives: borrow

Will lawmakers approve less borrowing for public universities?

JACKSON — The price of predictability for Mississippi’s public universities is likely to be less money to spend on capital projects in the state’s 2016 budget year. The College Board yesterday approved $710 million in bonding requests, as agencies make requests of the Legislature in advance of next year’s sessions. Lawmakers are likely to borrow much less. Next year will ...

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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 information and charging unauthorized fees. ...

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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 borrow $25 million from an ...

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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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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 the state needed a roadmap ...

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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 in George County starting in ...

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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 Commercial Dispatch reports that MDB ...

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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 jump start businesses and tourism ...

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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 bonds. Local residents will have ...

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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 time First South has declared ...

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