By Richard Meek
Contributing Writer

LAPLACE – St. John the Baptist Parish will soon be issuing nearly $6 million of Water Revenue Bonds to pay for multiple waterworks projects.
Attorney Hugh Martin said the low-interest bonds are being sold to the Department of Health and Hospitals through its Drinking Water Revolving Loan Program and that 30 percent of the total will be forgiven on the day the loan is finalized as long as at least one of the projects is ready to proceed.
“We think we’re on schedule,” said Martin, allaying the concerns of council member Cheryl Millet, who said she would not move forward with the project without the credit.
Martin said the parish will file an application with the state bond commission, and after that is approved it is up to the DHH to deliver the bonds.
“That does not occur until after the specs and plans are actually done for construction for whatever projects you are getting first and the contract is awarded,” he said, adding he expects everything to be finalized by June. “This is about as good a deal as you can get.”
Martin said the bonds will be paid off from the monthly charges billed to existing customers of the water system. He said if revenues are sufficient additional bonds may be approved, but he is doubtful the 30 percent credit will still be available.
The bonds will be used to pay the costs of acquiring and constructing improvements, extensions and replacements to the water systems.