PASCAGOULA, Miss. (AP) - The city of Pascagoula is going ahead with issuing $25 million worth of bonds to complete a variety of infrastructure and recreation projects.
The money will likely be borrowed in three separate bonds, two general obligation bonds and one revenue bond, city officials told The Mississippi Press (https://bit.ly/1m7LVON ).
The city council agreed this week to $10 million for parks and recreation projects, $8 million for streets, drainage and land acquisition for public use, and $7 million for utility projects, including water, sewer and gas.
The city may choose to issue less in bonds than the maximums they set.
The parks and recreation bond would be funded through the city’s hotel and motel tax and a proposed tax on prepared foods.
The streets and drainage bond would be funded through a millage increase, and the utilities bond would be funded through gradual increases in users’ rates.
The council authorized city attorney Eddie Williams to solicit proposals from bond experts for their services.
The council did not choose specific projects for each pot of money, but will rather rely on city staff to help prioritize projects.
The recreation project list includes a sportsplex and additional field lighting.
The council decided not to include funding in the bond for a train quiet zone through the city, an idea that had been previously discussed and that the mayor favored.
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Information from: The Mississippi Press, https://www.gulflive.com
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