PUBLIC NOTICE RESOLUTION OF THE MAYOR AN
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6/10/2026
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PUBLIC NOTICE
RESOLUTION OF THE MAYOR AND BOARD OF ALDERMEN OF THE CITY OF BROOKHAVEN, MISSISSIPPI, DECLARING THE INTENTION TO ISSUE AND SELL GENERAL OBLIGATION PUBLIC IMPROVEMENT BONDS OF THE MUNICIPALITY, TO ISSUE A GENERAL OBLIGATION PUBLIC IMPROVEMENT BOND OF THE MUNICIPALITY FOR SALE TO THE MISSISSIPPI DEVELOPMENT BANK, OR TO ENTER INTO A LOAN AGREEMENT WITH THE MISSISSIPPI DEVELOPMENT BANK, IN THE MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF $5,000,000, IN ONE OR MORE FEDERALLY TAXABLE OR TAX-EXEMPT SERIES, TO PROVIDE FUNDS FOR THE AUTHORIZED PURPOSES DESCRIBED HEREIN; DIRECTING PUBLICATION OF NOTICE OF SUCH INTENTION; AND FOR RELATED PURPOSES.
WHEREAS, the Mayor and Board of Aldermen of the City of Brookhaven, Mississippi (the “Governing Body” of the “Municipality”), acting for and on behalf of the Municipality, hereby finds, determines, adjudicates, and declares as follows:
1. It is necessary and in the public interest to issue debt obligations of the Municipality to provide funds for the purpose of (i) constructing, improving, and paving streets, sidewalks, and parkways, and purchasing land therefor; establishing, repairing, improving, and extending the sanitary, storm, drainage, and sewerage systems of the Municipality; protecting the Municipality, its streets, and sidewalks from overflow, caving banks, and other like dangers; purchasing machinery and heavy equipment which will have an expected useful life in excess of ten years, but specifically not including any motor vehicles weighing less than 12,000 pounds; erecting and purchasing waterworks, gas, electric, and other public utility plants or distribution systems or franchises, and repairing, improving, and extending the same (together, the “Authorized Purposes”); (ii) funding a capitalized interest account, if necessary; and, (iii) paying the costs of the authorization, issuance, sale, validation, and delivery of the debt obligations (together, the “Project”).
2. The Municipality is authorized by Sections 21-33-301 et seq., Mississippi Code of 1972, as amended (the “Municipal Improvements Act”), to issue general obligation public improvement bonds of the Municipality for the Project in the maximum aggregate principal amount of $5,000,000, in one or more federally taxable or tax-exempt series (the “Bonds”), and for which purpose there are no other available funds on hand.
1. The assessed value of all taxable property within the Municipality, according to the last completed assessment for taxation, is $184,943,151. The Municipality has outstanding bonded indebtedness subject to the 15% debt limit prescribed by the Municipal Improvements Act, in the amount of $3,814,000, and outstanding bonded and floating indebtedness subject to the 20% debt limit prescribed by the Municipal Improvements Act (which amount includes the sum set forth above subject to the 15% debt limit), in the amount of $3,814,000. The issuance of the bonded indebtedness hereinafter proposed to be issued, when added to the outstanding bonded indebtedness of the Municipality, will not result in bonded indebtedness, exclusive of indebtedness not subject to the aforesaid 15% debt limit, of more than 15% of the assessed value of taxable property within the Municipality, and will not result in indebtedness, both bonded and floating, exclusive of indebtedness not subject to the aforesaid 20% debt limit, in excess of 20% of the assessed value of taxable property within the Municipality, and will not exceed any constitutional or statutory limitation upon indebtedness which may be incurred by the Municipality.
2. Under the provisions of the Municipal Improvements Act, Sections 31-25-1 et seq., Mississippi Code of 1972, as amended (the “Bank Act”), and other applicable laws of the State of Mississippi (the “State”), the Municipality is authorized to undertake activities for the Project and to provide for the payment of the costs thereof, or any portion of such costs, by issuing a general obligation public improvement bond or general obligation public improvement bonds of the Municipality in the maximum aggregate principal amount of $5,000,000, in one or more federally taxable or tax-exempt series (the “Qualified Obligation”), for sale to the Mississippi Development Bank (the “Bank”), or entering into a loan agreement and obtaining a loan from the Bank evidenced by a promissory note of the Municipality in the maximum aggregate principal amount of $5,000,000, in one or more federally taxable or tax-exempt series (the “Note”).
3. The Municipality reasonably expects that it will incur expenditures for the Project for which the Municipality will advance internal funds prior to the issuance of the Bonds, the Qualified Obligation, or the Note, and that it should declare its official intent to reimburse itself for all or a portion of such expenditures of the Project made in anticipation of the issuance of the Bonds, the Qualified Obligation, or the Note.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF ALDERMEN OF THE CITY OF BROOKHAVEN, MISSISSIPPI, AS FOLLOWS:
SECTION 1. This resolution is adopted pursuant to the Municipal Improvements Act, the Bank Act, and other applicable laws of the State (together, the “Act”).
SECTION 2. The Governing Body, acting for and on behalf of the Municipality, does hereby declare its intention to issue and sell the Bonds, the Qualified Obligation, or the Note, pursuant to the Act.
SECTION 3. The Bond, or the Qualified Obligation, if issued, will be general obligations payable as to principal and interest out of and secured by an irrevocable pledge of the avails of a tax to be levied annually, if necessary, upon all the taxable property within the geographical limits of the Municipality, which tax, together with any other moneys available for such purpose, shall be sufficient to provide for the payment of the principal of and the interest on the Bond, or the Qualified Obligation according to the terms thereof. The Note, if issued, will be payable from the legally available revenues of the Municipality. Other funds available to the Municipality which may be lawfully used for payment of the principal of and interest on the Bonds, Qualified Obligation, or the Note, if issued, include, but are not limited to, use taxes remitted from the State to the Municipality as a result of the Infrastructure Modernization Act of 2018, House Bill 1, 2018 First Extraordinary Session, and any amendments thereto, codified as Sections 27-67-1 et seq., Mississippi Code of 1972, as amended, but limited to those elements of the Authorized Purposes codified in Sections 27-67-1 et seq., Mississippi Code of 1972, as amended.
SECTION 4. Pursuant to Section 1.150-2 of the Treasury Regulations (the “Reimbursement Regulations”), the Governing Body hereby declares its official intent to reimburse expenditures made for the Project prior to the issuance of the Bonds, the Qualified Obligation, or the Note, with the proceeds of the Bonds, the Qualified Obligation, or the Note, to the extent permitted by the Reimbursement Regulations.
SECTION 5. The Governing Body proposes to direct the issuance of the Bonds, the Qualified Obligation, or the Note in the amount, for the purpose, and secured as aforesaid, at a meeting of the Governing Body to be held at its regular meeting place and time at City Hall located at 101 West Chickasaw Street in the Municipality on Tuesday, July 7, 2026, at 6:00 p.m., or at some meeting held subsequent thereto.
SECTION 6. Pursuant to the Act, if 20%, or 1,500, whichever is less, of the qualified electors of the Municipality shall file with the City Clerk of the Municipality a written protest against the issuance of the Bonds, the Qualified Obligation, or the Note on or before Tuesday, July 7, 2026, at 6:00 p.m., or at some meeting held subsequent thereto, then the Bonds, the Qualified Obligation, or the Note shall not be issued unless authorized at an election to be called and held as provided by law on the question of the issuance of the Bonds, the Qualified Obligation, or the Note. If no sufficient protest is filed, then the Bonds, the Qualified Obligation, or the Note may be issued without an election on the question of the issuance thereof at any time within a period of two years after the date specified above.
SECTION 7. This resolution shall be published once a week for at least three consecutive weeks in The Daily Leader, a newspaper published in the Municipality and having a general circulation in the Municipality and qualified under the provisions of Section 13-3-31, Mississippi Code of 1972, as amended. The first publication of this resolution shall be made not less than 21 days prior to the date fixed herein for the issuance of the Bonds, the Qualified Obligation, or the Note, and the last publication shall be made not more than seven days prior to such date.
SECTION 8. The City Clerk shall be and is hereby directed to procure from the publisher of the aforesaid newspaper the customary proof of the publication of this resolution and have the same before the Governing Body on the date and hour specified in Section 5 hereof.
SECTION 9. If any one or more of the provisions of this resolution shall for any reason be held to be illegal or invalid, such illegality or invalidity shall not affect any of the other provisions of this resolution, but this resolution shall be construed and enforced as if such illegal or invalid provision or provisions had not been contained herein.
Following the reading of the foregoing resolution and discussion thereof, Alderman Moore offered and Alderman Grice seconded the motion to adopt the foregoing resolution, and the question being put to a roll call vote, the result was as follows:
Alderman Ronald L. Hines
voted: Nay
Alderman James Magee, Jr. voted: Aye
Alderman Shannon Moore
voted: Aye
Alderwoman Jennifer
Howard-Tate
voted: Aye
Alderman Jeff Henning
voted: Aye
Alderman Fletcher Grice
voted: Aye
Alderman Andre D. Spiller
voted: Aye
The motion having received the affirmative vote of a majority of the members present, the Mayor declared the motion carried, and the resolution adopted on this day, Tuesday, May 19, 2026.
City of Brookhaven, Mississippi
/s/ Larry D. Jointer, Mayor
ATTEST:
/s/ Mavis H. Stewart, City Clerk
The Daily Leader: June 10, 17, 24 and July 1, 2026
BOND SALE
RESOLUTION OF THE MAYOR AND BOARD OF ALDERMEN OF THE CITY OF BROOKHAVEN, MISSISSIPPI, DECLARING THE INTENTION TO ISSUE AND SELL GENERAL OBLIGATION PUBLIC IMPROVEMENT BONDS OF THE MUNICIPALITY, TO ISSUE A GENERAL OBLIGATION PUBLIC IMPROVEMENT BOND OF THE MUNICIPALITY FOR SALE TO THE MISSISSIPPI DEVELOPMENT BANK, OR TO ENTER INTO A LOAN AGREEMENT WITH THE MISSISSIPPI DEVELOPMENT BANK, IN THE MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF $5,000,000, IN ONE OR MORE FEDERALLY TAXABLE OR TAX-EXEMPT SERIES, TO PROVIDE FUNDS FOR THE AUTHORIZED PURPOSES DESCRIBED HEREIN; DIRECTING PUBLICATION OF NOTICE OF SUCH INTENTION; AND FOR RELATED PURPOSES.
WHEREAS, the Mayor and Board of Aldermen of the City of Brookhaven, Mississippi (the “Governing Body” of the “Municipality”), acting for and on behalf of the Municipality, hereby finds, determines, adjudicates, and declares as follows:
1. It is necessary and in the public interest to issue debt obligations of the Municipality to provide funds for the purpose of (i) constructing, improving, and paving streets, sidewalks, and parkways, and purchasing land therefor; establishing, repairing, improving, and extending the sanitary, storm, drainage, and sewerage systems of the Municipality; protecting the Municipality, its streets, and sidewalks from overflow, caving banks, and other like dangers; purchasing machinery and heavy equipment which will have an expected useful life in excess of ten years, but specifically not including any motor vehicles weighing less than 12,000 pounds; erecting and purchasing waterworks, gas, electric, and other public utility plants or distribution systems or franchises, and repairing, improving, and extending the same (together, the “Authorized Purposes”); (ii) funding a capitalized interest account, if necessary; and, (iii) paying the costs of the authorization, issuance, sale, validation, and delivery of the debt obligations (together, the “Project”).
2. The Municipality is authorized by Sections 21-33-301 et seq., Mississippi Code of 1972, as amended (the “Municipal Improvements Act”), to issue general obligation public improvement bonds of the Municipality for the Project in the maximum aggregate principal amount of $5,000,000, in one or more federally taxable or tax-exempt series (the “Bonds”), and for which purpose there are no other available funds on hand.
1. The assessed value of all taxable property within the Municipality, according to the last completed assessment for taxation, is $184,943,151. The Municipality has outstanding bonded indebtedness subject to the 15% debt limit prescribed by the Municipal Improvements Act, in the amount of $3,814,000, and outstanding bonded and floating indebtedness subject to the 20% debt limit prescribed by the Municipal Improvements Act (which amount includes the sum set forth above subject to the 15% debt limit), in the amount of $3,814,000. The issuance of the bonded indebtedness hereinafter proposed to be issued, when added to the outstanding bonded indebtedness of the Municipality, will not result in bonded indebtedness, exclusive of indebtedness not subject to the aforesaid 15% debt limit, of more than 15% of the assessed value of taxable property within the Municipality, and will not result in indebtedness, both bonded and floating, exclusive of indebtedness not subject to the aforesaid 20% debt limit, in excess of 20% of the assessed value of taxable property within the Municipality, and will not exceed any constitutional or statutory limitation upon indebtedness which may be incurred by the Municipality.
2. Under the provisions of the Municipal Improvements Act, Sections 31-25-1 et seq., Mississippi Code of 1972, as amended (the “Bank Act”), and other applicable laws of the State of Mississippi (the “State”), the Municipality is authorized to undertake activities for the Project and to provide for the payment of the costs thereof, or any portion of such costs, by issuing a general obligation public improvement bond or general obligation public improvement bonds of the Municipality in the maximum aggregate principal amount of $5,000,000, in one or more federally taxable or tax-exempt series (the “Qualified Obligation”), for sale to the Mississippi Development Bank (the “Bank”), or entering into a loan agreement and obtaining a loan from the Bank evidenced by a promissory note of the Municipality in the maximum aggregate principal amount of $5,000,000, in one or more federally taxable or tax-exempt series (the “Note”).
3. The Municipality reasonably expects that it will incur expenditures for the Project for which the Municipality will advance internal funds prior to the issuance of the Bonds, the Qualified Obligation, or the Note, and that it should declare its official intent to reimburse itself for all or a portion of such expenditures of the Project made in anticipation of the issuance of the Bonds, the Qualified Obligation, or the Note.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF ALDERMEN OF THE CITY OF BROOKHAVEN, MISSISSIPPI, AS FOLLOWS:
SECTION 1. This resolution is adopted pursuant to the Municipal Improvements Act, the Bank Act, and other applicable laws of the State (together, the “Act”).
SECTION 2. The Governing Body, acting for and on behalf of the Municipality, does hereby declare its intention to issue and sell the Bonds, the Qualified Obligation, or the Note, pursuant to the Act.
SECTION 3. The Bond, or the Qualified Obligation, if issued, will be general obligations payable as to principal and interest out of and secured by an irrevocable pledge of the avails of a tax to be levied annually, if necessary, upon all the taxable property within the geographical limits of the Municipality, which tax, together with any other moneys available for such purpose, shall be sufficient to provide for the payment of the principal of and the interest on the Bond, or the Qualified Obligation according to the terms thereof. The Note, if issued, will be payable from the legally available revenues of the Municipality. Other funds available to the Municipality which may be lawfully used for payment of the principal of and interest on the Bonds, Qualified Obligation, or the Note, if issued, include, but are not limited to, use taxes remitted from the State to the Municipality as a result of the Infrastructure Modernization Act of 2018, House Bill 1, 2018 First Extraordinary Session, and any amendments thereto, codified as Sections 27-67-1 et seq., Mississippi Code of 1972, as amended, but limited to those elements of the Authorized Purposes codified in Sections 27-67-1 et seq., Mississippi Code of 1972, as amended.
SECTION 4. Pursuant to Section 1.150-2 of the Treasury Regulations (the “Reimbursement Regulations”), the Governing Body hereby declares its official intent to reimburse expenditures made for the Project prior to the issuance of the Bonds, the Qualified Obligation, or the Note, with the proceeds of the Bonds, the Qualified Obligation, or the Note, to the extent permitted by the Reimbursement Regulations.
SECTION 5. The Governing Body proposes to direct the issuance of the Bonds, the Qualified Obligation, or the Note in the amount, for the purpose, and secured as aforesaid, at a meeting of the Governing Body to be held at its regular meeting place and time at City Hall located at 101 West Chickasaw Street in the Municipality on Tuesday, July 7, 2026, at 6:00 p.m., or at some meeting held subsequent thereto.
SECTION 6. Pursuant to the Act, if 20%, or 1,500, whichever is less, of the qualified electors of the Municipality shall file with the City Clerk of the Municipality a written protest against the issuance of the Bonds, the Qualified Obligation, or the Note on or before Tuesday, July 7, 2026, at 6:00 p.m., or at some meeting held subsequent thereto, then the Bonds, the Qualified Obligation, or the Note shall not be issued unless authorized at an election to be called and held as provided by law on the question of the issuance of the Bonds, the Qualified Obligation, or the Note. If no sufficient protest is filed, then the Bonds, the Qualified Obligation, or the Note may be issued without an election on the question of the issuance thereof at any time within a period of two years after the date specified above.
SECTION 7. This resolution shall be published once a week for at least three consecutive weeks in The Daily Leader, a newspaper published in the Municipality and having a general circulation in the Municipality and qualified under the provisions of Section 13-3-31, Mississippi Code of 1972, as amended. The first publication of this resolution shall be made not less than 21 days prior to the date fixed herein for the issuance of the Bonds, the Qualified Obligation, or the Note, and the last publication shall be made not more than seven days prior to such date.
SECTION 8. The City Clerk shall be and is hereby directed to procure from the publisher of the aforesaid newspaper the customary proof of the publication of this resolution and have the same before the Governing Body on the date and hour specified in Section 5 hereof.
SECTION 9. If any one or more of the provisions of this resolution shall for any reason be held to be illegal or invalid, such illegality or invalidity shall not affect any of the other provisions of this resolution, but this resolution shall be construed and enforced as if such illegal or invalid provision or provisions had not been contained herein.
Following the reading of the foregoing resolution and discussion thereof, Alderman Moore offered and Alderman Grice seconded the motion to adopt the foregoing resolution, and the question being put to a roll call vote, the result was as follows:
Alderman Ronald L. Hines
voted: Nay
Alderman James Magee, Jr. voted: Aye
Alderman Shannon Moore
voted: Aye
Alderwoman Jennifer
Howard-Tate
voted: Aye
Alderman Jeff Henning
voted: Aye
Alderman Fletcher Grice
voted: Aye
Alderman Andre D. Spiller
voted: Aye
The motion having received the affirmative vote of a majority of the members present, the Mayor declared the motion carried, and the resolution adopted on this day, Tuesday, May 19, 2026.
City of Brookhaven, Mississippi
/s/ Larry D. Jointer, Mayor
ATTEST:
/s/ Mavis H. Stewart, City Clerk
The Daily Leader: June 10, 17, 24 and July 1, 2026
BOND SALE