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File #: 26-2952    Version: 1 Name:
Type: Report Status: Passed
File created: 2/13/2026 In control: Mayor and Board of Aldermen
On agenda: Final action: 2/17/2026
Title: Order to adopt a Resolution authorizing the execution and delivery of a Promissory Note (City of Pearl, Mississippi Childre Road Urban Renewal Refunding Project) in the principal amount of not to exceed twenty-three million dollars ($23,000,000.00) to secure a loan from the Mississippi Development Bank to said city for the purpose of currently refunding and redeeming all of the outstanding $10,000,000 (original principal amount) City of Pearl, Mississippi Taxable Urban Renewal Revenue Refunding Bond, Series 2013 (Childre Road Urban Renewal Refunding Project) plus all accrued and unpaid interest thereon; approving the form of an indenture of trust and the form of and the execution and delivery of a loan agreement, a tax intercept agreement, and a private placement agreement in connection with the issuance of such promissory note and the issuance by the Mississippi Development Bank of its not to exceed $23,000,000.00 Taxable Special Obligation Bonds (City of Pearl, Mississippi (Childre R...

Order to adopt a Resolution authorizing the execution and delivery of a Promissory Note (City of Pearl, Mississippi Childre Road Urban Renewal Refunding Project) in the principal amount of not to exceed twenty-three million dollars ($23,000,000.00) to secure a loan from the Mississippi Development Bank to said city for the purpose of currently refunding and redeeming all of the outstanding $10,000,000 (original principal amount) City of Pearl, Mississippi Taxable Urban Renewal Revenue Refunding Bond, Series 2013 (Childre Road Urban Renewal Refunding Project) plus all accrued and unpaid interest thereon; approving the form of an indenture of trust and the form of and the execution and delivery of a loan agreement, a tax intercept agreement, and a private placement agreement in connection with the issuance of such promissory note and the issuance by the Mississippi Development Bank of its not to exceed $23,000,000.00 Taxable Special Obligation Bonds (City of Pearl, Mississippi (Childre Road Urban Renewal Refunding Project), Series 2026 for the purpose of funding such loan to the city; authorizing the negotiated sale and private placement of said Mississippi Development Bank Bonds; approving the forms of authorizing the execution of certain other documents in connection with said loan and said Mississippi Development Bank Bonds; and for related purposes.