MISSISSIPPI INDUSTRY INCENTIVE FINANCING REVOLVING FUND LOAN PROGRAM
Resolution of Intent
The Board Chairman and the Board of Directors, acting for and on behalf of the Chickasawhay Natural Gas District (“CNGD”) took up for consideration the matter of authorizing and approving a loan on behalf of CNGD from the Mississippi Development Authority (the “Department”) for the purpose of completing capital improvements identified as:
Development of Natural Gas Pipeline to Supply Required Gas for the Construction and Expansion of Hood Industries in Waynesboro, Mississippi (“the Project”).
BE IT RESOLVED BY THE GOVERNING BODY OF CNGD, AS FOLLOWS:
Section 1. Pursuant to the authority prescribed by Sections 57-1-221 of the Mississippi Code of 1972, as amended and/or other applicable Mississippi Statutes, The Governing Body of the Chickasawhay Natural Gas District does hereby declare its intention to enter into a loan agreement with the Department in the principal amount not to exceed One Million Eight Hundred Fifty Six Thousand Two Hundred and Fifteen Dollars ($1,856,215.00) for the purpose of completing the capital improvements identified above.
Section 2. The Loan, upon the issuance thereof by the Department, will be repaid using revenues derived from CNGD from the Project together with any other sources of repayment available to CNGD for such purposes, and will be secured by a Note executed and delivered by CNGD to the Department.
Section 3. The Governing Body proposes to authorize and approve the Loan from the Department in the amount and for the aforesaid purposes at a meeting of the Governing Body to be held at its regular meeting place at 306 South Archusa, Quitman, Mississippi at 5:00 p.m. on the 8th day April, 2026, which is at least thirty (30) days following the date of publication hereof. This date assigned to authorize and approve the aforementioned loan documents or at some meeting held subsequent thereto. This date assigned to authorize and approve the aforementioned loan documents has been set to meet program requirements which mandate that one public notice be issued prior to loan closing. This will allow sufficient time for public comments.
The motion having received the foregoing vote of the Governing Body, the Mayor declared the motion carried and the Resolution adopted, on this the 3rd day of December, 2025.
/s/ Kenny Odom
Attested: BOARD CHAIRMAN
/s/ Kimberly Dickerson
OFFICE MANAGER
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