The Jubin Crossing Economic Development District board in Livingston Parish voted Oct. 9 to authorize the district to proceed with the issuance and sale of subordinate sales-tax revenue bonds in three series, board staff said.

The resolution directs district officials to execute a trust indenture and related documents needed to sell the subordinate revenue bonds to fund improvements associated with an expansion of the district. "As you all are aware, the parish is in no way liable for these bonds," staff presenter Mr. Reiske told the board, adding, "There's no way you're ever gonna pay a penny of principal and interest." He said the bonds will be paid from sales taxes generated within the Jubin Crossing Economic Development District and indicated the issues would receive investment-grade ratings from Standard & Poor's.

The action came after the board clerk read a brief resolution summary and Councilman Shavers moved to approve the measure; Councilman Mangus seconded. The motion carried on a voice vote: Mangus, Watts, Coats, Goff, Sandifer, Erde, Taylor and Shavers voted yes. No dollar amounts for the bonds were stated during the meeting.

Board staff described the bonds as "subordinate revenue bonds," meaning repayment would come from the district's sales-tax receipts rather than from parish general revenues. The resolution also authorizes execution of a trust indenture and any ancillary certifications and documents required to complete the sale and delivery of the subordinate bonds.

No additional public comment or alternate proposals were recorded during the item, and the board promptly adjourned after the vote. The transcript does not specify the bond amounts, timeline for sale, underwriting arrangements or closing dates; those details remain to be set by district officials as they complete the trust indenture and sale process.