The Livingston Parish Council voted Oct. 9 to adopt an ordinance authorizing the parish to incur debt and issue up to $91,290,000 in sales-tax revenue bonds to fund road improvements.

Council members first voted to amend the ordinance by adding an exhibit that shows the form of the bonds and the blanks (interest rates, dollar amounts and other particulars) that will be filled when the bonds are marketed. After approving the amendment by unanimous vote, the council adopted the ordinance as amended.

Parish officials said the action is a procedural step that authorizes the bond form and sets the issuance process in motion; the sale still must clear the state bond commission and be marketed to investors. Finance staff reported a recent rating call with Standard & Poor’s went well and that insurance and final pricing remain to be determined. Officials estimated bids and final interest rates would be known in about three weeks.

The ordinance describes the bonds’ purpose as paying principal and interest on sales-tax revenue bonds for parish road projects and related matters, and authorizes staff to carry out the detailed steps needed to sell the bonds.

Votes at the meeting showed council approval of both the amendment to add Exhibit A and the motion to adopt the ordinance as amended. The clerk recorded the adoption as unanimous.

The council did not take additional financing actions at the meeting; parish staff said they will return with final pricing and documents once the marketing and underwriting process concludes.