2025-0169
INTRODUCED BY: MATTHEW JEWELL, PARISH PRESIDENT
(BOND COUNSEL)
ORDINANCE NO. ___________
Title
An ordinance authorizing the issuance by the Parish of St. Charles, State of Louisiana of its Taxable Limited Tax Bond (DEQ) in an amount not to exceed Ten Million Dollars ($10,000,000) and providing for other matters in connection therewith.
Body
WHEREAS, the St. Charles Parish Council (the "Parish Council"), acting as the governing authority of the Parish of St. Charles, State of Louisiana (the "Parish") currently levies and collects on a 2.07 mills tax authorized at an election held on May 2, 2015 (such rate being subject to adjustment from time to time due to reassessment), which the Parish is authorized to impose and collect through 2044 (the "Tax"), pursuant to the following proposition:
MILLAGE PROPOSITION
Shall the Parish of St. Charles, State of Louisiana (the "Parish") levy a special tax of two and two-tenths (2.20) mills (the "Tax") on all property subject to taxation in the Parish (an estimated $2,640,000 reasonably expected at this time to be collected from the levy of the tax for an entire year), for a period of 30 years, beginning with the year 2015 and ending with the year 2044, for the purpose of paying any costs associated with acquiring, constructing, improving, maintaining and operating wastewater facilities and systems in the Parish, including those owned and operated by Consolidated Waterworks and Wastewater District No. 1 of the Parish of St. Charles, Louisiana, provided that said Tax shall not be levied in any year to the extent such levy would cause the combined millage levied to pay debt service on the Parish's General Obligation Refunding Bonds, Series 2012, and the millage from the Tax to total more than 2.20 mills in such year, adjusted as provided in the Louisiana Constitution?
WHEREAS, the proceeds of the Tax that the Parish expects to receive in calendar year 2025 totals approximately $5,600,000; ...
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