2025-0336
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 Limited Tax Bond (ARC) in an amount not to exceed Four Million Dollars ($4,000,000) 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") is authorized to levy and collect an ad valorem tax of 0.66 mills authorized at an election held on October 14, 2023 (such rate being subject to adjustment from time to time due to reassessment), which the Parish is authorized to impose and collect through 2034 (the "Tax"), pursuant to the following proposition:
MILLAGE PROPOSITION
Shall the Parish of St. Charles, State of Louisiana (the "Parish"), continue to levy a special tax of .66 mills on all the property subject to taxation in the Parish (an estimated $1,208,700 reasonably expected at this time to be collected from the levy of the tax for an entire year), for a period of 10 years, beginning with the year 2025 and ending with the year 2034, for the purpose of operating, maintaining and constructing facilities and for providing services associated with the ARC of St. Charles for all people with intellectual and developmental disabilities in St. Charles Parish?
WHEREAS, the proceeds of the Tax that the Parish expects to receive in calendar year 2025 totals approximately $1,500,000; and,
WHEREAS, this Parish Council desires to issue a not to exceed $4,000,000 Limited Tax Bond (ARC) of the Parish (the "Bond"), payable from and secured by an irrevocable pledge and dedication of the revenues of the Tax, under the authority conferred by Part II of Chapter 4 of Subtitle II of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory auth...
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