Council grants preliminary approval to up to $4 million limited-tax bonds for ARC facility renovations

The St. Charles Parish Council voted unanimously to give preliminary approval for the parish to seek authority to issue not-more-than $4,000,000 in limited-tax bonds on behalf of the ARC of Saint Charles. The preliminary approval authorizes the parish to proceed with an application to the state bond commission and does not obligate parish general funds.

Jason Akers of the law firm Foley & Judell, appearing with Koi Landry of the ARC of Saint Charles, told the council the borrowing would be paid solely from a 0.66-mill ad valorem tax that voters had approved in October 2023. Akers said that if tax proceeds were insufficient for debt service for any reason, that shortfall would be a bondholder risk and not a parish obligation. He added the tax has more than three times coverage and that the preliminary approval is needed to make application to the state bond commission.

No parish matching funds or additional parish appropriation was requested; Akers said the parish would not be required to contribute other funds and that the parish’s role was to facilitate the bond issuance. Councilmember Heather Skiba, who serves on the ARC board, urged council support and described a need to improve facilities for individuals served by the organization.

The council voted to grant preliminary approval and directed staff to proceed with the application process. The motion passed unanimously; the transcript records the outcome as “passes unanimously.” Detailed sale terms and final bond resolution will return to the council after state bond commission action and when sale terms are finalized.