Voters in unincorporated areas of Ascension Parish, La., will decide on Nov. 6 on whether to impose a 0.5% sales tax that will provide up to $150 million for improvements to parish roads.
The financial plan includes $80 million of revenue bonds that the parish expects to sell in two, $40 million tranches.
The tax, which would begin Jan. 1 and expire after 25 years, is expected to generate $9 million a year.
Approval of the new tax would bring the parish sales tax rate to 9% in the unincorporated areas.
Ascension Parish also anticipates receiving an additional $56 million through a program by the Louisiana Department of Transportation and Development to reduce the number of highway miles maintained by the state.
The parish would take over 100 miles of rural state roads under the program.
The parish’s general obligation debt carries ratings of AA-minus by Standard & Poor’s.
Ascension Parish is located along the Mississippi River between New Orleans and Baton Rouge.
The population in the parish rose 40% from 2000 to 2010.
