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STATE BOND COMMISSION
May 16, 2019
Local Political Subdivisions - Loans
SYNOPSIS | |
| | | | | | | | APPLICATION NO: | L19-087 | ENTITY:
| Washington Parish, City of Bogalusa | TYPE OF REQUEST:
| $950,000 Budgetary Loan | ANALYST:
| Allison Roy
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| | | | | | | | SUBMITTED BY: | | David M. Wolf, Adams & Reese LLP |
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| | | | | | | | PARAMETERS: | | Not exceeding $950,000 Revenue Anticipation Notes, not exceeding 6% fixed or variable rate, mature no later than March 31, 2020, current expenses. |
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| | | | | | | | LEGISLATIVE AUTHORITY: | R.S. 39:527 |
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| | | | | | | | RECOMMENDATION: | The City was voted to be appointed a Fiscal Administrator on February 18, 2019. While steps have been taken to complete this process, no such Fiscal Administrator has been appointed. The application meets all legal requirements and on that basis Staff recommends approval. Representatives of the City are available to address the Commission. |
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