Morgan City bonds approved
BATON ROUGE — The State Bond Commission approved more than $72 million for projects statewide, including $4 million for road and street improvements in Morgan City.
The project, which will be paid through the collection of a 0.3 percent sales tax collection for 12 years, was approved by Morgan City voters in a November election.
The work calls for work to “construct, improve, resurface, maintain and provide street, drainage for public streets, alleys, sidewalks and public wharves and to acquire equipment.”
During December’s council meeting, Morgan City Mayor Tim Matte identified the first set of roadway work, an estimated $600,000 in overlay work, which is expected to begin sometime after Mardi Gras is celebrated on Feb. 21.
The city planned to receive bids on the overlay work, which includes portions of 15 streets, this month.
The price of the work is pegged at $599,134, assuming 2 inches of overlay are needed.
“In some cases we will only need an inch and a half. It kind of depends on what’s down there before,” Matte said.
The work will include the following areas:
—Second Street to Union Street to South Railroad Avenue.
—Second to Brashear Avenue to Egle Street.
—Second to Railroad to Everett Street.
—Sixth Street to Levee Road to Marguerite Street.
—Sixth to Greenwood Street to South Everett.
—Ditch Avenue to Railroad to La. 182.
—Union to Second to Federal Avenue.
—Third Street to South Railroad to Union.
Matte said at the time it is possible that by the February council meeting, the council will have the next batch of street work ready to bid out. That work is expected to include concrete work on David Drive, Veterans Boulevard and Youngs Road.
During Thursday’s bond commission meeting, the board also approved $5.2 million in savings by refinancing existing public debt, State Treasurer John Kennedy said.
The commission also approved over $5.2 million in savings for local governments by refinancing existing debts.
The Louisiana State Bond Commission meets monthly to review and approve applications from parishes, municipalities, special taxing districts, and other political subdivisions of the state requesting authority to incur debt.