City of Morgan City Council Meeting Minutes February 2026
$750K FEMA Project Bond Awarded to LPFA
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Description
The council approved issuance of a $750,000 Limited Tax Bond to the Louisiana Public Facilities Authority to help fund city repairs after Hurricane Francine. This bond will be repaid in structured annual installments at 2.28% interest until 2036.
Contract Details
Contract Amount
$750,000 (Bond R-2, part of $3,100,000)
Vendor
LOUISIANA PUBLIC FACILITIES AUTHORITY
Agency
City of Morgan, LA
Contract Type
FINANCIAL_SERVICES
Document Date
February 24, 2026
Contract Term
Delivery Date March 5, 2026 – Maturity March 1, 2036
Renewal Date
2036-03-01
Renewal Info
Optional prepayment on interest payment dates; final maturity March 1, 2036; no automatic renewal.
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