LAPLACE – Four major water works projects are being planned that will be paid for with a $6 million bond issuance, St. John the Baptist Parish officials said Tuesday night.
The low-interest bonds could be ready to be issued by as early as June, attorney Hugh Martin told council members during a regular meeting of the St. John Parish Council.
He cited the interest rate as a “very favorable” 3.45 percent.
“The bonds will be payable from the revenue that is derived from the monthly charges that are now being paid by the customers of the system in St. John and will not require a rate increase,” Martin said.
The major project, according to officials, is building a water line under the Mississippi River, but two of the projects include improvements at the Lyons Water Plant that will increase the capacity by up to 3 million gallons a day.