DeSoto County to receive $19.6M bond assistance

DeSoto County has been approved for $19.6 million in federally subsidized Recovery Zone bonds as part of the national economic stimulus package.

Rep. Travis Childers, D-Miss., announced the DeSoto allocation Monday as part of an overall $54 million in federal subsidies for bonds in Mississippi’s First District.

The allocations come in two forms — Recovery Zone Economic Development Bonds and Recovery Zone Facility Bonds.

The Economic Development bonds would allow county and municipal governments to issue bonds for infrastructure improvements, with the federal government picking up the tab for 45 percent of the interest costs.

The bonds would not allow local governments to exceed their statutory bonding limits.

Commercial Appeal