Natchez aldermen agree to take out $400K line of credit

NATCHEZ, Miss. (AP) – Natchez aldermen have agreed to take out a $400,000 line of credit to help cover any of the city’s upcoming cash needs.

The Natchez Democrat reports the board met Tuesday for a work session in order to decide how to fund the projects that will need money during the current fiscal year, which ends July 1.

Community Development Director James Johnson says the city needs a total of $1,951,936 to fund the projects, all but $692,498 of which would be reimbursed by grants from the state and federal governments.

Natchez Mayor Butch Brown says many ongoing projects wouldn’t need to be funded in this fiscal year, or even in the next.

The $400,000 line of credit could be used for road projects, matching funds or other city needs.