Livingston Parish Council authorizes application to State Bond Commission for up to $91.3 million in sales-tax revenue bonds

The Livingston Parish Council on Aug. 28 authorized parish consultants to apply to the Louisiana State Bond Commission for approval to issue sales-tax revenue bonds with not-to-exceed parameters of $91,292,000, clearing the way for a later ordinance and final votes if the parish proceeds.

The resolution, unanimously approved, directs the parish’s financial team to make the formal application and to engage bond counsel, an independent registered municipal adviser and underwriter/placement agents. Consultant Jim Ryan told the council the resolution does not obligate the parish to borrow; it establishes the “parameters” the bond commission requires for application.

Why it matters: Parish leaders said the financing would fund road and infrastructure projects the parish has prioritized after a multi-month infrastructure review. Ryan told the council that the commission requires conservative “not to exceed” numbers — for example, interest and borrowing assumptions run at an artificially high 7 percent to ensure the parish will be within…