City plans street projects with bonds
The City of Franklin is preparing to borrow up to $2 million dollars for needed road repairs and renovation of City Hall.
The city council, meeting in a special finance committee session Tuesday, voted to recommend to the full council preparation of a resolution to be sent to the state Bond Commission for approval of a bond issue.
“This will start the process,” said Ted Haik who said he is working with the Crawford Lewis legal firm of Baton Rouge.
Haik said the city then would determine which projects it wants to fund and how much it needs to borrow.
Mayor Raymond Harris said most of the funds would be used for Phase 2 of the city’s prioritized list of needed street repairs.
Phase 1 was completed with cash on hand, it was noted by Councilman Dale Rogers. He added that he would recommend that the streets projects take priority over city hall renovation.
“I think we can do both,” Harris said.
The mayor pointed out that mold remediation to ensure the health safety of employees at city hall is imperative.
A proposed ordinance was introduced last week during the council’s regular meeting to purchase the city hall building, which is the former Crowell School, from the St. Mary School Board for $35,000. The city is currently leasing the building.
Haik said the resolution to the Bond Commission will limit the interest rate on the bonds to 6 percent, but noted that the council could expect to see it in the 4 percent range.
In other discussions, the mayor explained that another ordinance introduced last week amending the current fiscal year budget was due to increase in the allocation from the parish council to 3rd Ward City Court.
Harris said the parish agreed to an 11 percent increase, or $6,270, to its share it pays the court for marshal service due to a population shift indicated by the census count.