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Biloxi council tables $14 million bond proposal, schedules workshop to set projects
Summary
Council members tabled an intent resolution to issue up to $14 million in general-obligation bonds after a lengthy discussion over priorities, debt service and needed project lists; a workshop on the bond is set for next Tuesday at 10:00 a.m.
The Biloxi City Council on Jan. 20 postponed consideration of a resolution that would have initiated a process to issue up to $14 million in general-obligation bonds for long-term capital projects.
Council members pressed administration and bond counsel for specifics — what projects would be funded, how much each would cost and how the city would pay annual debt service — before committing taxpayers to multi-decade repayment. Finance staff estimated that borrowing the full $14 million over 20 years at the target…
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