Mayor Says Money in Bank for Project

Updated: Thu 11:47 PM, Oct 18, 2012

Meridian's mayor says the financial arrangements for a new law enforcement center closed Oct. 3. and the funds for the project are in the bank.

Mayor Cheri Barry says the state and federal new market tax credit transaction closed Oct. 3, contributing approximately $3.569 million into the Meridian Law Enforcement Center construction project.

Barry says that money combined with the Meridian Urban Renewal Agency’s issuance of $2.355 million in long term bonds and $2.1 million in short term bonds will fund the approximately $8 million project.

The mayor says short term bonds will be paid back from drug seizure funds.

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