On page 34 of the 30 Sep 2013 Audit for our County, you will find a list of our outstanding bonds. I had to ask questions to find what financial institutions are the final holder of these bonds.
Until 17 Sep 2012, there was not a dedicated revenue stream to either pay off this debt or make interest payments. It was on 17 Sep 2012 that a 15.77 millage was voted to be placed on our books for debt service. As I understand it, it was at this point that we would have had to default on our bonds or accept the 15.77 millage for debt service.
As always, if you find an error in this post, please let me know.
| General Obligation Bonds: GOB |
Outstanding
|
Interest Rate
|
Maturity Date
|
| First Security Bank | |||
| GOB Airport Improvement Bonds | |||
| Series 2005 | $1,755,000 |
3.60% - 5.125%
|
May of 2025
|
| First Security Bank | |||
| *Purchased from: | |||
| Mississippi Development Bank | |||
| Special Obligation Bonds, Series 2010A | |||
| Tunica County, MS General Obligation | |||
| Industrial Development Bond Project | $3,275,000 |
2.60% - 6.25%
|
Jun of 2030
|
| First Security Bank | |||
| *Purchased from: | |||
| Mississippi Development Bank | |||
| Special Obligation Bonds, Series 2010B | |||
| Tunica County, MS General Obligation | |||
| Airport Bond Project | $1,440,000 |
3.00% - 4.5%
|
Jun of 2030
|
| First Security Bank | |||
| *Purchased from: | |||
| Mississippi Development Bank | |||
| Special Obligation Bonds, Series 2010 | |||
| Tunica County, MS General Obligation | |||
| Refunding Bond Project | $8,425,000 |
3.00% - 4.00%
|
Dec of 2023
|
| First Security Bank | |||
| *Purchased from: | |||
| Mississippi Development Bank | |||
| General Obligation Refunding Bonds, | |||
| Series 2012 | $4,780,000 |
1.125% - 2.00%
|
Sep of 2023
|
| Hancock Bank | |||
| General Obligation Refunding Bonds, | |||
| Series 2013 | $9,510,000 |
2.00% - 3.00%
|
Jul of 2026
|
| Total Bonds |
$ 29,185,000
|
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