St. James Parish Sets Tax Vote

The St. James Parish Council set Nov. 4 as the date for an election on a 1% sales tax increase that would fund a $177 million project to build sewer systems in the parish’s unincorporated areas.

The tax is expected to generate $4.1 million a year to support bonds for the project.

The plan calls for two treatment facilities on the east bank of the Mississippi for $69.6 million, and three facilities on the west bank at an estimated $107.5 million.

The tax will be collected in two incorporated areas with existing systems, but those revenues do not have to be spent on their sewer systems. The towns can use 75% of the revenue to support additional bonds for roads or water systems.

Gramercy will receive approximately $594,000 a year from the additional tax, and Lutcher will receive slightly more than $188,000. If the towns do not issue debt supported by the revenues, the money can go into their general funds.

The parish’s general obligation debt is rated A3 by Moody’s Investors Service.

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER