Police Jury on the hunt for funds
05/21/2018
Facing uncertainty of
FEMA approval for funds to help repair at least two years worth of flood damage
in Bossier Parish, members of the parish police jury will seek financial relief
through bonds offered by a state agency.
Jury members voted
unanimously last week to apply to the Louisiana Local Government Environmental
Facilities and Community Development Authority to request issuing revenue and refunding
bonds in an amount not to exceed $50 million.
Parish Administrator
Bill Altimus told jury members the purpose of seeking the $50 million is to
cover several parish public improvement projects that may not qualify for
federal assistance. And, he pointed out, if some projects do qualify the money
filters slowly from FEMA to the parish.
“Our consultants have
determined that due to recent flood events, the parish has suffered
approximately $25 million in damages to parish paved roads, and the rising
water table is creating adverse effects on sewer and water lines,” Altimus
said.
Altimus said it remains
unclear how much, if any, funds will be received from FEMA to assist the parish
in the cost of damages to our paved roads.
In addition to damage
repair, Altimus said funding from the bonds could be used to target other
needs. He said the South Bossier Park on Caplis Sligo Rd. continues to grow,
and additional improvements would add to the quality of life the park provides.
Also, a new state law on
housing 17-year-old inmates may require the parish to build a new juvenile
detention center.
And, Altimus added,
there is potential for future expansion of the sewer district, and the parish
will need funding for that expansion sooner rather than later to keep abreast
of development in this area.
One interesting feature
of the bonds, Altimus said, is the money can be used when needed to finance
capital projects and refund certain maturities. All Bossier Parish must do is
submit an application to the State Bond Commission showing a need that sufficiently
warrants the parish to borrow money.
“We can get what we need
when we need it, up to $50 million,” Altimus explained.
Bossier Parish can meet
payments on the bond obligation with money already in the system, he added. The
parish currently pays $3 million a year in debt service for the courthouse
renovation, expansion and maximum-security jail complex, that will be paid in
full in the near future.
“This three million
dollars is money that is already being spent. We will not be taking on a new obligation,”
Altimus told jury members.
Shaun Toups, representing Government Consultants,
Inc., said the resolution being presented for adoption requests only approval from
the State Bond Commission to move forward with the application for Louisiana
Local Government Environmental Facilities and Community Development Authority revenue
and refunding bonds. It does not authorize any specific borrowing of
funds.
If approved by the State Bond Commission, the Bossier
Parish police jury will make the determination when and what funds are needed,
he said. The police jury will prioritize these future projects.
Police jury members also:
· Approved, with
stipulation, the plat of proposed development of Dogwood South subdivision,
Unit 3-B.
· Declared a six-month moratorium
on billboards in the Benton Metropolitan Planning Commission until a July
preliminary MPC meeting.
· Approved proposal from
David W. Volentine for appraisal services on parcels under the Hazard
Mitigation Grant Program.
· Approved change for the
acceleration lane on U.S. 71 at Sligo Rd. intersection.
· Approved certificate of
substantial completion for acceleration lane on U.S. 71.
· Authorized payment of
certain invoices from Lazenby & Associates, Inc. on the Bossier north/south
corridor Swan Lake Rd. interchange.
· Accepted streets and
drainage, sewer main extension and improvements at Redwood Place at Legacy
subdivision into parish system for permanent maintenance.
.sflb)
Bossier Parish Administrator Bill Altimus (right) talks bonds with parish bond counsels (from left)
Jennifer
Fiore,
Jennifer
Fiore and
John
Dunlap of Dunlap, Fiore, LLC.
s
Bossier
Sports Commissions executive Kelly Wells presents a plaque of appreciation to Bossier Parish police jury members (from left) Norman Craig and Bob Brotherton and Commission Chairman Billy Montgomery.
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