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Parish president says Hurricane Ida disaster loan paid off; FEMA reimbursed bond issuance costs
Summary
Parish President Peter Dufresne reported Jan. 7 that the parish has paid off its Hurricane Ida disaster loan and that, to their knowledge, FEMA reimbursed bond issuance and interest costs related to the borrowing.
Parish President Peter Dufresne told the council the parish has paid off the disaster loan taken after Hurricane Ida, a loan that enabled immediate cleanup and reopening without waiting on FEMA grants and insurance. "To our knowledge, this is the first time FEMA has reimbursed a government for bond issuance and interest costs," Dufresne said during his report.
Dufresne said the FEMA grant paid for bond issuance and interest costs and that parish leaders are considering preliminary approval for a future disaster loan to have available if needed. The bond commission is scheduled to meet Jan. 15 to consider revenue bonds to fund a proposed multipurpose building; the council would need to adopt a subsequent ordinance authorizing debt issuance if the bond commission approves funding.
