Public Improvement Districts in Mississippi

Private Developers in Mississippi may also take advantage of a significant economic incentive for the financing of basic project infrastructure through the creation of Public Improvement Districts (“PIDs”).  Once established by a local government, a PID offers private developers the opportunity to have tax-exempt revenue bonds issued for the purpose of financing qualified infrastructure.  Special assessments levied on the land and improvements within a PID serve as collateral for the bonds issued by the PID and are used for debt service for the PID bonds.  Interest rates, maturity and terms and conditions of any bonds issued by a PID are based on the financial strength of the private developer, the type of development and the specifications of the bond purchaser.