St. Louis High seeking up to $10 million loan for construction
Lake Charles, LA (KPLC) - Hurricane Laura recovery continues in our area. St. Louis Catholic High School has set the wheels in motion for a bond issue to help fund the construction of a new high school and related repairs.
What we know about the bond issue comes mostly from a legal ad that ran in the American Press Newspaper Thursday.
According to the ad, the proceeds of a bond issue of up to $10 million would be loaned to Lake Charles Catholic Schools - a nonprofit corporation.
The ad says it would be used to develop a new campus on 40 acres of land being purchased at 4220 Corbina Rd. and to build a dining hall or other facility at 1620 Bank Street - where students now attend school.
The proposed new school is for about 800 students.
According to documents on file with the State Bond Commission, the school is hoping to get up to $40 million from FEMA (See page 187-192 on August 19, State Bond Commission Agenda). A bond issue of up to $10 million would likely pay the school’s share and things FEMA won’t cover.
The ad says the bond proceeds would not be used for building any facility used for the practice of religion.
A public hearing is set for 10:30 a.m. Tuesday, September 14, at the Hancock Whitney Bank building.
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