In a story broken by Elliott Stonecipher on July 6th, he uncovers Mayor Adrian Perkins’s intent to ask Shreveport voters to approve a $220,000,000 bond issue in an upcoming election on November 16, 2019.
In the Agenda for the July 8th and 9th City Council Meetings, a public notice states that at the City Council meeting on August 13th, 2019, the council members will discuss adopting the resolution to call for the November 16th election regarding the bond issue.
These General Obligation bonds would be for “purposes of constructing, acquiring, equipping and/or improving public works of the City including the water and sewer system, facilities, land and/or equipment for parks and recreation, public buildings, police department, fire department, and economic development, and street, highways, bridges, drainage systems, utility conduits and appurtenances thereto…” according to the public notice attached to the agenda.
The bond issue can be for up to $220,000,000, with no specific cause or reason. General Obligation bonds are issued with no collateral on the belief that the city will repay its debt through taxation.