East Baton Rouge Parish voters may be asked to approve a tax increase for a multimillion-dollar bond issue at next November’s general election. Parish Mayor-President Kip Holden said he may ask voters for a new property or sales tax, or possibly a combination of the two, to support the parish’s first infrastructure bond issue since 1975.Possible projects to be financed with bond proceeds could include $180 million of drainage efforts, $85 million for a new police headquarters facility, $55 million for an expansion of the parish correctional facility, and $45 million to expand the Baton Rouge convention center.The proposed bond issue could be on the ballot at next year’s Nov. 4 general election, which is also the runoff date for the mayoral and council races.East Baton Rouge voters approved a 0.5% sales tax in 2004 to finance the widening of 35 roads in the parish.
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The incoming Bond Buyer Hall of Famer built public finance businesses at U.S. Bank and Academy Securities by combining experienced teams, issuer trust and a clear reason for clients to choose a new franchise.
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