FINANCIAL_SERVICESPENDING

City of Morgan City Official Proceedings 2026-04-28

City Plans $3 Million Utilities Bond Sale to State Fund

Not to exceed $3,000,000City of MorganDRINKING WATER REVOLVING LOAN FUND OF THE STATE OF LOUISIANAApril 28, 2026

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Description

Morgan City signaled its intent to issue up to $3,000,000 in Taxable Utilities Revenue Bonds to finance drinking water system improvements, with the bonds anticipated to be privately sold to the State’s Drinking Water Revolving Loan Fund. The bonds would carry a term of up to 30 years at interest rates not exceeding 2.45%.

Contract Details

Contract Amount

Not to exceed $3,000,000

Vendor

DRINKING WATER REVOLVING LOAN FUND OF THE STATE OF LOUISIANA

Agency

City of Morgan, LA

Contract Type

FINANCIAL_SERVICES

Document Date

April 28, 2026

Contract Term

Bonds to mature not later than 30 years from date of issuance; interest rate not exceeding 2.45% per annum; callable at any time without penalty

Renewal Info

Future refunding or additional parity bonds would be governed by covenants in the forthcoming bond ordinance; current action only declares intent and does not finalize the loan.

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