At Tuesday’s Bossier City Council meeting, the council approved two resolutions that could save the city more than $1 million per year in debt service, and approved an ordinance to design and construct a fire station in the East Bank District.
The Council approved to adopt a resolution indicating the intention of the City of Bossier City, State of Louisiana to proceed with the issuance of up to $50 million of Louisiana Local Government Environmental Facilities and Community Development Authority Revenue Refunding Bonds.
In addition, the city also approved to adopt a resolution giving preliminary approval to the issuance of not to exceed $130,000,000 aggregate principal amount of Taxable Utilities Revenue Refunding Bonds.
Previously reported by Press-Tribune at last week’s Tuesday’s Bossier City Council agenda meeting, At-Large Councilman David Montgomery Jr. said, “As you are well aware probably over the last couple of years we’ve looked at this on several occasions. And right now interest rates on debt are at all-time lowest ever in the history of ever being recorded. Just to put things in perspective between these two refinance issues, the city will save over $1million a year in debt service. It’s quite a substantial sum of money. And it’s certainly the time to go out there and exercise our right to refinance.”
During Tuesday’s city council meeting, the council also approved a first reading of an ordinance appropriating $2.1 Million Dollars from the 2015 LCDA Bond Issue to design and construct a fire station in the East Bank District.
This ordinance serves multiple public safety purposes, the council said.
If given final approval, the new station would be designed and constructed in the East Bank District that would better serve the needs of the Bossier City Fire Department and the community by enhancing operational efficiencies.
The existing Station No. 6 would serve as administrative space and a climate controlled space for Emergency Medical Services Operations and police working in the East Bank District.
“In addition to the public safety aspects, the existing facility also would, in part, be used to display historical fire department equipment,” said Traci Landry Bossier City Police Public Information Officer.