SCP School Board OK’d taking bids on site work, hiring a bond financial advisor
The St. Charles Parish School Board unanimously agreed to take bids on site work for the system’s $35 million performing arts center, approved the millage tax collection to pay for it and hired a financial advisor for the bond issue for the project.
Board members agreed the St. Charles Parish Public Schools Performing Arts Center is an approved project of the 2015 bond issue.
Administrators advised phasing in the arts center project would be advantageous for the School District by saving time and funds.
Site work plans, completed by the architect and planning committee, are ready for bid.
Based on Louisiana law, the board also approved furnishing the parish assessor and legislative auditor with the tax rate to be applied to the assess property values each year.As a taxing authority, school board members approved the levy of the property tax rates on the 2015 tax roll.
The estimated revenue will be school constitutional tax, $5.2 million or 4.05 mills; school operations and maintenance tax, $51.5 million or 41.16 mills; school construction and improvement, $6 million or 4.69 mills, and school bonds, $7.4 million or 5.86 mills.
School board members also unanimously approved hiring Raymond James Financial Inc., an independent financial advisor, for $20,000 to advise on issuing general obligation bonds.
With the passing of tax with the May election, the board must hire an advisor according to Louisiana law.
Proposals were submitted by three firms meeting the qualifications required for the position: Raymond James Financial, Trinity Capital Resources and Government Consultants of Louisiana. The proposals were submitted ranging in price from $20,000 to $52,500.
They were reviewed and evaluated based of the following criteria: Cost, firm resources and experience.