In an anticipatory move, Warren County will file briefs in federal bankruptcy court to protect itself from losing property tax revenue in 2008 from DiamondJacks Casino, Warren County Tax Collector Pat Simrall said Thursday.

The casino’s parent company, Legends Gaming LLC, filed for Chapter 11 protection in March in a dispute with its lenders over interest rates on the $215 million loan it secured to purchase its property here and in Bossier City, La., both former Isle of Capri casinos.

Despite casino officials’ public assurances that the firm’s financial condition is fine, Simrall is choosing to err on the side of caution.

“I just don’t want to take any chances with Warren County taxpayers’ money,” Simrall said, referencing the county’s challenge to Winn-Dixie Stores Inc. in 2006.

The grocery giant filed a similar reorganization plan in 2005, which entailed closing 29 stores in Mississippi, including its Sack & Save location in Vicksburg. Winn Dixie attempted to get back more than $1.4 million in property taxes from six Mississippi counties. In Warren County, the amount in question was $11,548.58 on two personal property parcels for 2004.

“We still hadn’t gotten back all our money,” Simrall said.

Taxes for 2007 totaling $1,042,215.21 have been paid in full on DiamondJacks’ five real and personal property in Vicksburg.

Legends owns its gaming facility and adjacent land at 3990 Washington St. and a warehouse at 2920 Washington St. The RV park it purchased from Isle of Capri in 2006 along with the other properties are now managed by Ameristar Casinos.

Legends CEO Michael Kelly has said the loan money came from multiple hedge funds. Performance projections for five fiscal years dictated the terms of the interest. Since profits didn’t meet expected levels, the approximately 20 Wall Street financial houses have tried to jack up the interest the Illinois-based company is to pay.

Bankruptcy proceedings came as a last resort and will not affect business or renovation plans in place, Kelly said in March. At worst, the company would pay the higher interest rates, he said.