Poplarville Board of Aldermen hold special meeting to discuss CAP loan
Published 7:00 am Wednesday, September 13, 2017
- Jason Hicks, a representative of the Mississippi Development Authority, presented the application for a Capital Loan Agreement to build the new public works facility. Photo by Julia Arenstam
The Poplarville Board of Aldermen approved a motion Tuesday night to adopt the 2017-2018 budget.
The $3.2 million in total expenditures were approved, keeping the millage rate the same as last year at 54.5 mills. That rate will generate an estimated $961,000 in ad valorem taxes.
A total $4.73 million is estimated to come in as total revenue including $528,000 in capital lease/loan payments.
Both figures include expenditure and revenue amounts for capital improvement projects, such as the new public works facility, the development of the city’s green space on Main Street and infrastructure improvements across the city.
The Board also approved a motion to apply for a Mississippi Development Grant in the amount of $439,061 to construct a new public works facility. The Capital Loan Agreement program allows municipalities to apply for loans of up to $750,000 through the Mississippi Development Authority, previous coverage states.
The loan would either qualify for a tax exempt interest rate of two percent or a taxable interest rate of three percent, according to previous coverage.
Last month, the Board rescinded an order to execute a loan from Bank Plus for the funds, according to previous coverage.
In a separate matter, representatives of the entertainment group Flight 411 spoke to the Board again about their grievances stemming from the ordered shut down of an event held Aug. 18 at the Pearl River County Fairgrounds.
The group asked the Board whether Poplarville Police officers acted under orders or under their own pretense.
The Board heard added testimony from Pearl River County NAACP President Jimmy Richardson before going into executive session to discuss the matter. No decision had been made as of press time Tuesday. More information will be published in Thursday’s Item.