Sunflower County intends to borrow up to $1.5 million for capital improvements on an unidentified county-owned building.
According to a public notice that is running currently in The E-T, the Board of Supervisors “took up consideration the matter of authorizing and approving a loan on behalf of the county from the Mississippi Development Authority (the “Department”)” to move forward with what is being called “Project Bright.”
The loan will apparently be distributed through MDA’s Capital Improvements Revolving (CAP) Loan Program.
The public notice says the board does intend to enter into the loan agreement, not to exceed $1.5 million.
The board and Sunflower County Economic Development Director Frederick Washington declined to speak on the record about the project, but the notice does say the board intends to authorize the loan during its July 15 meeting “or at some meeting held subsequent therto.”
“This date assigned to authorize and approve the aforementioned loan documents has been set to meet program requirements which mandate that four public notices be issued prior to loan closing,” the notice says. “This will allow sufficient time for public comments.”
The Board of Supervisors will meet once before the July 15 meeting. That will take place on July 1.
