Watkins Development, LLC v. C. Delbert Hosemann, Jr.

CARLTON, J.,

for the Court:

¶ 1. This appeal arises from an administrative proceeding brought by the Mississippi Secretary of State, in its regulatory capacity, against Watkins Development LLC and David Watkins Sr. (collectively, “Watkins” unless the context requires otherwise).1 In April 2012, Watkins defaulted on the payment of a loan of taxable revenue bond proceeds issued to Retro Metro LLC by the Mississippi Business Finance Corporation (“MBFC”)2 to be used to revitalize the Belk building at Metrocenter Mall in Jackson, Mississippi. See Miss. Code Ann. § 75-71-501 (Rev.2009). Pursuant to…