Mississippians May Foot Bill After Beef Processor Defaults

Sigo, Shelly
January 2005
Bond Buyer;1/10/2005, Vol. 351 Issue 32046, p3
Trade Publication
The article reports that Mississippi taxpayers are most likely to pay debt service on US$8.5 million of bonds used to help build a beef processing plant that is now in default and closed. Richard Hall, owner of Mississippi Beef Processors LLC, received a grant of US$5 million from taxable general obligation bonds sold on behalf of the Mississippi Land, Water and Timber Board, plus a US$35 million bank loan guaranteed with state bond proceeds. A 30-day window for Hall to pay US$325,674.81 on his bank loan has passed.


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