Lake Charles, LA (KPLC) – Hurricane Laura recovery continues in our area. St. Louis Catholic High School set the wheels in motion for a bond issue to help fund the construction of a new high school and related repairs.
What we know about the bond issue comes mainly from a legal announcement published yesterday in the American Press newspaper.
The announcement said the proceeds from a bond issue of up to $ 10 million would be loaned to Catholic Schools in Lake Charles, a non-profit corporation.
The ad says it would be used to develop a new campus on 40 acres of land purchased at 4220 Corbina Road – and to build a dining hall or other facility at 1620 Bank Street – where children now attend school.
The proposed new school accommodates around 800 students.
According to documents filed with the State Bond Commission, the school hopes to raise up to $ 40 million from Fema. A bond issue of up to $ 10 million would likely pay for the school’s share and things Fema wouldn’t cover.
The ad says that the proceeds of the bond would not be used for the construction of facilities used for the practice of religion.
A public hearing is set for 10:30 a.m. on Tuesday, September 14 in the Hancock Whitney Bank building.
To read the announcement and links to supporting documents filed with the Obligations Commission, visit the KPLC website
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