NATCHEZ, Miss. (AP) — Adams County will borrow the $9 million it now needs to buy the former International Paper property from Rentech.
County officials announced earlier this week they had reached a deal with Rentech for the 478-acre property.
Officials tell the Natchez Democrat (http://bit.ly/11ZkTe1 ) that the board of supervisors will adopt a resolution to issue bonds for the $9 million. Local residents will have the opportunity to petition for an election before the bonds are issued.
Natchez Inc. Executive Director Chandler Russ said the property had to be purchased as a whole unit because Rentech was not interested in parceling it off.
Russ says Natchez Inc. is now working with the competing bidders about the use of the property, and five potential industrial clients are interested in the property in some fashion.
Information from:The Natchez Democrat, http://www.natchezdemocrat.com/