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St. James announces $12M bond sale, $724,106 premium to fund construction; two grants secured
Summary
Parish President Peter Dufresne told the council the parish completed a $12 million bond sale that yielded a $724,106.30 premium for construction projects and received two grants totaling $510,000 for water system and operations equipment.
Parish President Peter Dufresne told the St. James Parish Council on April 15 that the parish completed the previously authorized $12 million bond sale and received a market premium of $724,106.30 that will be applied to construction projects. "We will have an additional $724,106.30 to apply towards construction project," Dufresne said.
Dufresne also reported two grant awards: a $280,000 Community Water Enrichment Fund grant to refurbish the old Convent Clarifier and a $230,000 award through the Louisiana Local Government Assistance Program to purchase two dump trucks for the Department of Operations. He said the parish's AA rating and favorable market conditions contributed to the bond outcome. The council received the report as part of the president's regular update; no separate motion was required.
The president highlighted other construction mobilizations, including clearing spoil for a new interconnect levee and Barriere Construction starting the Buddy Whitney hardening project, described in the report as a roughly $1.9 million contract to line just over one mile with concrete. Dufresne noted the parish's annual audit is about one-third complete and that auditors had not identified any major issues to date.
