Moving forward with revamping the town water system and other infrastructure improvements occupied council members at the October Town Council meeting Tuesday night. Agenda items included the next steps in financing major upgrades to the town’s drinking water supply as well as requesting grants for other improvements.
First on the agenda was Alan Offner of the law firm of Foley and Judell in New Orleans. They are the town’s bond attorneys. Offner spoke about a resolution to issue $4,174,000 in Water Revenue Bonds for improvements to the water system.
Offner said his firm would prepare a proposal to go before the Louisiana Bond Commission on November 15th. Offner said, “The resolution before the council allows submitting to the state bond commission for approval of the notice of intent and the issuing of the bonds themselves.” He added when approved the council would advertise locally and hold a public meeting on December 11th to get public input and finally approve the issuing of the bonds.
The town isn’t obligated to do anything by this step. Offner said, “It just allows to move forward and get the Bond Commission approval and hold a public hearing. We will not issue bonds until there are bids for the project and other measures are accomplished.”
Mayor Johnny Cox explained that the city is not going to borrow $10,000,000 as reported elsewhere. He said it is a total of $7,000.000 in bonds and grants. Cox said the project would be paid for by the money from the bonds first, then they could spend money from the grant. He also explained that when talking about the city getting a loan for the project it really means funding from the sale of bonds.
The Town Council voted to approve the resolution.
Other resolutions were approved concerning the town applying for grants and capital outlay funding for infrastructure improvements. The town will apply for capital outlay funding for streetlights and sidewalks ($905,280.00), sewerage repairs ($240,000.00), renovations to the Community Center ($630,300.00), street improvements ($5,580,000.00), and wastewater treatment rehabilitation ($500,000.00).
Other resolutions adopted would apply to the LGAP grand program for sewerage repairs of $35,000.00 and to apply to the CWEF grant program for water repairs of $35,000.00. The council approved those resolutions.