Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Mayor Arsenault urges council to fund Fire Station 20 from 2024 bond premium, not operating reserve
Summary
At a Shreveport City Council meeting, Mayor Arsenault asked council members to amend an ordinance so $733,000 for Fire Station 20 comes from 2024 bond premium funds rather than the city's operating reserve, arguing using reserves could drop the city below an 8% target and risk a credit downgrade.
Mayor Arsenault asked the Shreveport City Council to withdraw or amend proposed ordinances that would use operating-reserve money to fund reconstruction of Fire Station 20, saying the city should instead tap the premium received from the 2024 bond sale.
Arseneault said ordinances 20 and 21 on the council’s agenda would move $733,000 from the city’s operating reserve toward a $1.6 million reconstruction of Fire Station 20. He said that drawing the funds from the reserve would reduce the reserve below the 8% target the city set for bond-rating agencies and could lead to a credit downgrade and higher borrowing costs.
The mayor told the council the city received an approximate $2.9 million…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
