City of Jackson proposes 18-year strategy to level debt plan - MSNewsNow.com - Jackson, MS

City of Jackson proposes 18-year strategy to level debt plan

JACKSON, MS (Mississippi News Now) -

The City of Jackson launched its series of weekly press briefings Tuesday morning, starting with plans to address debt, budgeting and announcing the return of the Department of Parks and Recreation's Summer Program.

The Director of Finance and Administration used a graph to show upcoming spikes in the city's debt payments; proposing a strategy to level out the debt plan over 18 years.

"That involves a strategy whereby we borrow money in those out years and we use that money to pay off some of the bonds in the nearer terms so that we have level payments over time," said Dr. Richard Hatcher.

"This is borrowing against the future, but it is doing so in a way that it is much more compassionate," added Mayor Chokwe Lumumba.

Ison Harris, the Director of the Department of Parks and Recreation, announced the revived summer program starting June 4 through July 20.

Mayor Lumumba said the regular press briefings are designed to provide the highest level of transparency to citizens.

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