Jackson Municipal Airport Authority Shows Financial Strength and Stability
By Yolanda Clay-Moore, Jackson Municipal Airport Authority
On July 20, the Jackson Municipal Airport Authority (JMAA) finalized the legal defeasance of its 2005C Bond Series by setting aside funds in an escrow account, with Trustmark National Bank acting as the Escrow Agent. This bond series had an outstanding balance of $2,155,000.00 with a final maturity date of October 1, 2027. Legal defeasance of these bonds released JMAA from this outstanding debt and all obligations associated with this debt.
The constant refrain from JMAA’s leader, Chief Executive Officer Carl Newman, is: Plan the work and work the plan.
“We are really focused on funding today and tomorrow,” said Newman of the effort that is part of JMAA’s Strategic Plan 2021. “The legal defeasance of these bonds further advances our efforts toward realizing our strategic goals.”
The Jackson Municipal Airport Authority’s Strategic Plan 2021 is a guide that was created for organizational, fiscal and physical development of the Jackson-Medgar Wiley Evers International Airport (JAN) and Hawkins Field Airport (HKS). This plan includes a vision to meet the objectives contained in the plan, a mission to connect Jackson to the world, and the world to Jackson, and lists the values that are important to the organization including: Customer Focus, Continuous Improvement, Communication, Collaboration and Commitment.
This is a perfect example of working the plan!