School Eyes Tax Renewal

The trustees of the West Feliciana Parish School Board will consider a plan next month to call a property tax renewal election in April 2012.

The board will meet Dec. 13 to decide whether to set an election for April 21 on a proposal to renew an existing 3.75-mill property tax. The revenue is dedicated to employee salaries and benefits.

The board will also consider a proposal to refinance $2.4 million of outstanding general obligation bonds from a $6 million issue in 2002.

Proceeds from the construction bonds being refinanced were used for renovations at two elementary schools, an administrative building, and the district's high school in St. Francisville, which is about 15 miles north of Baton Rouge.

District officials said refinancing the outstanding debt at an expected rate of 2.05% would result in a savings of $142,883.

The district's outstanding GO debt is rated A3 by Moody's Investors Service.

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Louisiana
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