The proposed $989 million bond-financed capital improvement program going to voters in November will save money for the average parish resident, East Baton Rouge Parish Mayor-President Melvin “Kip” Holden said last week.

Holden said the bonds will require an increase in the property tax of about $8.25 for the average home. The $45 million in the package for an improved system of synchronized traffic lights will save the average commuter $14.52 a month in lower gasoline costs, he said at last week’s 20th anniversary luncheon of the Downtown Development District.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.