The bond trustee for the failed Parkway East Public Improvement District continues to seek shortfall payments from Madison County despite a settlement agreement reached earlier this year between the county and Assured Guaranty, a bond insurer. 

Hancock Whitney Bank sent the county a letter asking for a shortfall payment in the amount of $451,256.88 by Nov. 1 to cover the notes. 

“I make the assumption you will reject this request,” County Administrator Shelton Vance said after presenting to supervisors Monday. 

“I thought we were through with this,” District 2 Supervisor Trey Baxter asked after making a motion to reject the request. 

“We don’t owe anything,” Board Attorney Katie Bryant Snell Said. “We’ve gone through that process.”

Board President Sheila Jones laughingly said the county may have still been sent the notice hoping they would blindly pay anyway. 

The county settled a lawsuit with Assured Guaranty in March over the failed $27.7 million PID, which left taxpayers out over $3 million.

Galleria Parkway began when 14 landowners agreed to a special assessment on their property in exchange for $27.7 million in bonds to build the 4.3-mile roadway that connects Gluckstadt to Madison and parallels I-55.