By By Fredie Carmichael/staff writer
Jan. 9, 2002
The Meridian City Council unanimously voted Tuesday to establish up to a $10 million line of credit with the Mississippi Development Bank.
The city could draw money from the bank at taxpayer expense to help fund unspecified projects.
Mayor John Robert Smith said the city council must approve any projects that would use part of the money. He said the line of credit "is designed to be short-term gap financing."
Among the projects that could be funded: constructing and buying land for public parking; erecting and buying city buildings; buying land for parks and public playgrounds; and buying firefighting equipment.
The money also could be used for paving streets and for repairing, improving and extending sanitary, storm and drainage systems.