PASCAGOULA, Miss. (AP) — Pascagoula leaders have decided to go to the Mississippi Development Bank for $15 million in bonds for infrastructure work around the city.
The Mississippi Press reports (http://bit.ly/1p9NR9s ) the money will be used for streets, sidewalks, public parking facilities, bridges, culverts and repairs to the city’s water, gas and sewer system, among other projects.
Consultant Demery Grubbs told council members Monday that going through the Mississippi Development Bank will give the city some flexibility.
Grubbs says going through MDB will also allow the city to take home the bulk of the $15 million it borrows rather than losing several hundred thousand to fees and other charges.
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Information from: The Mississippi Press, http://www.gulflive.com
