Beauregard Parish School Board approves resolution to call May special election for $30 million in bonds

Beauregard Parish School Board on Thursday approved a resolution ordering a special election on May 3, 2025, to ask voters to authorize up to $30 million in general obligation bonds for capital improvements, board counsel said.

The board—s bond counsel, Grama Schluter of Foley Edel, told trustees the proposition as drafted would allow the district to seek the $30 million without a projected increase to the 17.8 mills the board currently levies for debt service. "You have an opportunity to consider whether you'd like to submit to the voters for their consideration 30,000,000 for additional capital improvements, again, without a projected increase in that 17.8 mills," Schluter said.

Why it matters: presenters said issuing bonds on a schedule like this preserves the district—s ability to fund major capital work without immediately raising the property tax rate, while also replacing or repairing aging facilities that officials said date largely from the 1960s and 1970s.

Financial adviser Stephanie Ferry, who joined Schluter at the dais, described how market pricing can affect proceeds. She said bond sales typically price to current yields and that recent market practice can produce a premium so the district may receive proceeds modestly above the par amount. "If you sell 30,000,000 you—re likely to get a little bit of a premium on top of that ... you—ll end up with proceeds of closer to 32 to 33,000,000," Ferry said.

Trustees asked several operational questions before voting, including how the millage rate would behave if the board did not go to the voters. Schluter said the district is allowed to maintain a carryover equal to one year—s annual debt service but that if the board declines to seek new bonds the effective millage could be reduced in 2026 or 2027 as assessed valuations and debt schedules change.

Board members also asked about timing and interest-rate risk. Ferry said market movements over six months can change yields and premiums; she noted recent Federal Reserve actions have not produced consistent declines in long-term yields and that any near-term fall in rates would likely affect shorter maturities more than long-term yields.

Alternatives discussed included smaller financing through capital outlay grants or sales-tax bonds, but counsel and the adviser said general obligation bonds remain the principal financing tool used by Louisiana school systems. Schluter and Ferry said capital outlay and other grant sources can supplement but would not typically replace a general-obligation bond program of this size.

Action: Board member Mister Redler moved to adopt the resolution; Mister Sandifer seconded. The motion carried after an affirmative voice vote.

The resolution directs staff to submit the exact ballot language and a capital improvement plan to the board before the election; the plan must specify projects to be funded by the bonds, presenters said. The board did not set individual project authorizations in the meeting; Schluter said the plan would be approved by the board prior to the election.

What—s next: The board will file the resolution and proposition language, and staff will return with a capital improvement plan before the May election.