PERKINS NOW SET TO GRAB $220,000,000 IN NOVEMBER BOND VOTE
Confirming rumors very few believed would prove true, Mayor Adrian Perkins has now given public notice that he will ask Shreveport voters to approve a massive General Obligation bond issue – likely $220,000,000 – in an election on November 16, 2019.
The expected Louisiana run-off for Governor, almost certainly to include John Bel Edwards, will be on that same ballot. (Can anyone say “Maximum Democrat turnout”?)
As legally required, the Agenda for next week’s City Council Administrative Conference (Monday) and City Council Meeting (Tuesday) is now published on the City’s website.
Buried almost at the very end of the document, under the heading “Clerk’s Report: Public Notice” these seven words follow in very small text, this way …
… notice of intent to call an election
Upon clicking those words, the document appears and reads:
TO BE READ INTO RECORD AND PUBLISHED
NOTICE OF INTENT TO CALL AN ELECTION
Notice is hereby given in accordance with Section19.1 of Title 42 of the Louisiana Revised Statutes of 1950, as amended, that the Mayor and City Council of the City of Shreveport, State of Louisiana (the”City”), acting as the governing authority of the City at its regularly scheduled meeting on August 13, 2019, at its regular meeting place, Government Chamber of Government Plaza, 505 Travis Street, Shreveport, Louisiana, at 3:00 p.m., will discuss and consider adopting a resolution ordering and calling an election on November 16, 2019, to authorize not to exceed Two Hundred Twenty Million Dollars ($220,000,000) General Obligation Bonds, in one or more series for the purposes of constructing, acquiring, equipping and/or improving public works of the City including (i) the water and sewer system, (ii) facilities, land and/or equipment for parks and recreation, public buildings, police department, fire department, and economic development, and (iii) street, highways, bridges, drainage systems, utility conduits and appurtenances thereto, and upon approval by the qualified voters therein, for such tax to be levied thereafter.
* * * * * * * *
Anyone reading the above will quickly notice that every imaginable money grab in existence fits within the language of the “purposes” of the bond issue.
(For example, Perkins is said to be working already on property acquisition for the Cross Bayou scheme … money for which it does not NOW have.)
Unless memory fails, this would be the largest such bond issue in Shreveport history, besting the mere $175,000,000 from ex-mayor Glover in 2011.
For any who wonder, I did not know about this when I wrote today’s earlier article about financial failings in City Hall. (My thanks for the heads-up from a longtime friend.)
Truly, no one could or would make this stuff up.
Here is the link to the subject meeting Agenda:
© 2019 Elliott Stonecipher … ALL RIGHTS RESERVED