Supervisors discuss IP request today

Published 12:00 am Monday, January 24, 2000

Adams County Supervisors will host a public hearing Monday morning on International Paper’s request to refinance $1.7 million in Adams County Solid Waste Disposal Revenue Bonds.

IP hopes to increase profitability by refinancing the purchase of 14 acres of landfill on its property at Carthage Point.

&uot;It’s like you would refinance the mortgage on your house,&uot; said Mark Van Devender, financial manager for IP’s Natchez mill. The original purchase was financed at 7.7 percent interest and Van Devender is hoping to refinance at close to 7 percent interest.

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Law requires the approval of the presiding governing body for sale of the revenue bonds, Van Devender said.

The public hearing begins at 9 a.m. in the County Administrative Office board room.

International Paper’s Natchez mill expects to close the bond sale on Feb. 15.

Other items for consideration by supervisors on Monday include reports from the Southwest Mississippi Planning and Development District, the Economic Development Authority, the Adams County Port.

Cable One television cable service representatives are expected to present their justification for a rate increase.