Sulphur mayor explains veto of bond issue - KPLC 7 News, Lake Charles, Louisiana

Sulphur mayor explains veto of bond issue

(Source: KPLC) (Source: KPLC)
SULPHUR, LA (KPLC) -

Sulphur Mayor Chris Duncan vetoed an ordinance that would allow a $15 million bond issue for various city projects.

For now the city can pay for such projects without the bond issue, Duncan says. On Monday, the City Council will decide at a special meeting whether to override the veto.

Duncan says he takes seriously his obligation to be a good steward of taxpayers' money - that, he says, is why he vetoed a $15 million bond issue for city projects.

"Just the interest alone on $15 million based on 5-percent projection is $3.3 million dollars. That's a lot of interest," said Duncan.

For now he says the city should pay as it goes.

"If we can work on these projects right now, and not hold anything up, or not hold up the things that we have going on, we need to use our money. But then when you get to the point where you can't use the money, then you go out for the bonds."

Plus, he says because of the payback requirements of the bond debt, it could cause the city serious financial problems if sales tax revenues are lower than projected.

"There's a lot of people driving into town that were supposed to be here permanently working, and staying in our community, that's not staying in our community," said Duncan. "You have like Lafayette, New Iberia, Morgan City, Port Arthur, Bridge City, and all them, and they're driving in for work. They're stopping at a park 'n ride and then they're driving back. They're no taxes coming in from these people because they're coming in and they're leaving."

Duncan says for now, Sulphur can pay as they go on projects, which he considers more frugal. Plus he says there are cheaper sources of financing.

Three council members - Dru Ellender, Randy Favre and Stuart Moss - are at the National League of Cities in Charlotte, North Carolina. We called them for comment. Moss responded, saying: "We plan to override the mayor on Monday."  

The special council meeting is at 5 p.m. Monday.

Copyright 2017 KPLC. All rights reserved.

  • More Local NewsNewsMore>>

  • Staying safe on the roads

    Staying safe on the roads

    Tuesday, January 16 2018 5:41 AM EST2018-01-16 10:41:45 GMT
    (Source: KPLC)(Source: KPLC)
    With an expected freeze to hit Southwest Louisiana later today many are taking precautions and experts say its best to stay off the roads.  Icy weather conditions can lead to dangerous situations on the road so to make sure your commute is safe AAA recommends the following winter driving tips: Avoid driving while you’re fatigued. Getting the proper amount of rest before taking on winter weather tasks reduces driving risks. Never warm up a vehicle in an enclosed area, s...More >>
    With an expected freeze to hit Southwest Louisiana later today many are taking precautions and experts say its best to stay off the roads.  Icy weather conditions can lead to dangerous situations on the road so to make sure your commute is safe AAA recommends the following winter driving tips: Avoid driving while you’re fatigued. Getting the proper amount of rest before taking on winter weather tasks reduces driving risks. Never warm up a vehicle in an enclosed area, s...More >>
  • State Offices Closed Tomorrow in 35 Parishes

    State Offices Closed Tomorrow in 35 Parishes

    State Offices Closed Tomorrow in 35 Parishes

    Monday, January 15 2018 10:41 PM EST2018-01-16 03:41:30 GMT
    Courtesy of Google ImagesCourtesy of Google Images

    Due to possible extreme winter weather, state offices are closed Tomorrow in 35 Parishes. This news comes from the  Louisiana Commissioner of Administration, Jay Dardenne. Parish closings include: Allen Avoyelles Beauregard  Bossier Caddo Calcasieu Cameron Concordia Claiborne De Soto Evangeline Grant  Iberia Jackson Jeff Davis La Salle Lafayette  Lincoln  Morehouse Natchitoches Ouachita  Pointe  Coupee Rapides Red R...

    More >>

    Due to possible extreme winter weather, state offices are closed Tomorrow in 35 Parishes. This news comes from the  Louisiana Commissioner of Administration, Jay Dardenne. Parish closings include: Allen Avoyelles Beauregard  Bossier Caddo Calcasieu Cameron Concordia Claiborne De Soto Evangeline Grant  Iberia Jackson Jeff Davis La Salle Lafayette  Lincoln  Morehouse Natchitoches Ouachita  Pointe  Coupee Rapides Red R...

    More >>
  • BREAKING

    SCHOOL CLOSURES: McNeese, SOWELA, all public schools closed Tuesday

    SCHOOL CLOSURES: McNeese, SOWELA, all public schools closed Tuesday

    Monday, January 15 2018 9:52 PM EST2018-01-16 02:52:55 GMT
    (Source: KPLC)(Source: KPLC)

    List of school closures for Jan. 16, 2018.

    More >>

    List of school closures for Jan. 16, 2018.

    More >>
Powered by Frankly