Explaining propositions on April 27 ballot approved by Shreveport City Council

An April 27 ballot will include an option to approve bonds for citywide infrastructure upgrades after Tuesday's Shreveport City Council vote.

Shreveport residents will cast their votes on the approval of bond sales to finance various infrastructure projects, including street improvements, water and sewage systems.

Citing fiscal limitations as the driving force behind his decision, Mayor Tom Arceneaux announced in August his plans to bring a bond election proposal before the council.

Proposition 1

The proposal suggests that the City of Shreveport incur debt and issue general bonds for $125,100,000 with an interest rate not exceeding 7% a year for 30 years. The capital improvements will be city-related projects authorized by the City Council. There will be an estimated increase of 2.45 mills to the millage rate in the first year of issuance.

Proposition 2

The proposal suggests that the City of Shreveport incur debt and issue general bonds for $82,000,000 with an interest rate not exceeding 7% a year for 30 years for improvements to the City's water and sewage systems authorized by the City Council. There will be an estimated increase of 1.6 mills to the millage rate in the first year of issuance.

Proposition 3

The proposal suggests that the City of Shreveport incur debt and issue general bonds for $49,300,000 with an interest rate not exceeding 7% a year for 30 years for improvements to public safety authorized by the City Council. There will be an estimate increase of 0.95 mills to the millage rate in the first year of issuance.

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This article originally appeared on Monroe News-Star: Explain propositions April 27 ballot approved Shreveport City Council