Bond bill could provide added dollars for various projects - - Jackson, MS

Bond bill could provide added dollars for various projects

Source: WLBT Source: WLBT
JACKSON, MS (Mississippi News Now) -

There are often gaps when it comes time for lawmakers to balance the state budget. That's where bonds come into play. The legislature has passed this year's bond bill and it just lacks a signature from the Governor.

"There are projects we need to do," said Lieutenant Governor Tate Reeves last Friday. "There are projects that have been funded partially."

Those projects and more are part of the more than 600 page bond bill passed by the legislature. The total borrowing amount totals $250 million. One project that got some but not all money is the Trade Mart on the State Fairgrounds.

"The primary cost of that is to demolish the old Trade Mart, build a new Trade Mart and then hopefully then there will be some funds there to do some minor renovations in the Coliseum," explained Rick Reno, Executive Director of the Mississippi State Fair Commission.

They got $10 million in bonds last year but will need another 20 to complete the planning and construction.

"One of the things that's going to be very beneficial with the new Trade Mart, if everything goes the way it supposed to go, it will actually be attached to the coliseum," added Reno.

Another project that will see a new cash flow is the two history museums project in Jackson. It's set to get $16.6 million from the state. Construction continues ahead of the scheduled 2017 opening. 

Ingalls Shipbuilding will take a big piece of the pie with $45 million. And the state's universities and community colleges will get money to help with construction projects and operations.

Some years, the bond bill includes money for roads and bridges. This package does but most of those line items are county or city specific.

Copyright 2016 MSNewsNow. All rights reserved.

Powered by Frankly