Lake Charles Bond Issue - KPLC 7 News, Lake Charles, Louisiana

Lake Charles Bond Issue

Shall the city of Lake Charles acquire, construct, or improve streets and roads, parks and recreational facilities, water and waste water systems, downtown and/or lakefront development infrastructure and economic development facilities within the city and pursuant to cooperative endeavor agreements with Calcasieu Parish, title to which shall be in the public, be funded by the city through (a.) levy, assessment and collection of 60 percent of gaming revenues, a 20-year sales and use tax of ¼ of 1 percent within the city, a 20-year ad valorem tax not to exceed 2.5 mills, utility fees and revenues received by the city, and existing sales tax and utility revenues received by the city not otherwise dedicated to payment of outstanding debt, and (b.) issuance of bonds, notes or loans in an amount not exceeding $90 million, not to exceed 20 years, with interest at a rate not exceeding 7.5 percent per annum, which bonds, notes or loans shall be retired with, paid from and secured by a pledge and dedication of revenues?

Lake Charles voters will vote "for" or "against."

 


 

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