CITY OF JEANERETTE JEANERETTE, LA MINUTES OF THE SPECIAL MEETING-BOARD OF ALDERMEN Monday November

[City Clerk]

CITY OF JEANERETTE JEANERETTE, LA
MINUTES OF THE SPECIAL MEETING-BOARD OF ALDERMEN Monday November 18, 2024
Proceedings of the Mayor and Board of Aldermen of the City of Jeanerette, State of Louisiana, at their Special meeting place held Monday November 18, 2024 at 1010 E. Jeanerette, LA 70544 for the Public Hearing/Meeting at 6:30 p.m. The Mayor called the meeting to order and Alderwoman Clay led the prayer, the Mayor led the Pledge of Allegiance.
Those present were: Mayor Carol Bourgeois Jr. Alderwoman Mariah Clay, Alderwoman Charlene Moore, Alderman Garland Bourgeois, Alderwoman Christia Simmons, Alderman Ray Duplechain City Attorney Lucretia Pecantte and City Clerk Susan Colden.
Mayor Carol Bourgeois Jr. determined that a quorum was present.
The Mayor announced the passing of former Jeanerette City Mayor James “TK” Alexander and requested everyone keep the family in prayer.
5. Public Hearing on items 6 & 7, Mr. J Hardy Andrews of Foley & Judell LLP explained the purpose of the meeting and reviewed the process required by the state as well as the funding required for the sewer project and the funds coming from capital outlay, water sector and DEQ. The DEQ loan 4.4 million with a $500,000 in principal forgiveness and is 22 years term and the interest rate is 0.95%. There were no questions. He then stated that the only thing that would cause a stall in the project was if a petition was brought forth and he asked the City Clerk if she had received any petition and Ms. Colden stated she had not. With no other comments or questions, on motion by Alderman Bourgeois and second from Alderwoman Simmons to leave public hearing and enter regular session.
6. Resolution
Adoption of the No Petition Resolution 22 of 2024 – the title of which is: “A resolution finding and determining that a public hearing has been held and that no petition has been filed objecting to the proposed issuance by the City of Jeanerette, State Louisiana, of its Taxable Sewer Revenue Bonds (DEQ) in an amount not to exceed Four Million Four Hundred Thousand Dollars ($4,400,000); authorizing the officials of said City to proceed with the preparation of the documents required for the issuance of such Bonds; and providing for other matters in connection therewith.”Mr. Hardy Andrews stated that this Resolution is just a reflection of the discussion that occurred during the public hearing. Motion by Alderwoman Simmons second Alderman Bourgeois Roll Call vote
Yeas, Alderman Bourgeois, Alderwoman Simmons, Alderman Duplechain
Nay: Alderwoman Clay, Alderwoman Moore
Absent: None
Abstain: None
Motion Carried
7.Ordinance
Adoption of the Bond Ordinance 2024-10B An ordinance authorizing the issuance by the City of Jeanerette, State of Louisiana of its Taxable Sewer Revenue Bond (DEQ), – the title of which is: “An ordinance authorizing the issuance by the City of Jeanerette, State of Louisiana of its Taxable Sewer Revenue Bond (DEQ), in an amount not to exceed Four Million Four Hundred Thousand Dollars ($4,400,000) and providing for other matters in connection therewith.”, Motion by Alderman Bourgeois, second by Alderwoman Simmons to leave regular session and enter public hearing. Motion carried by voice vote of all yea, no nay. Question by Alderwoman Simmons to Mr. Hardy Andrews regarding Section 15 titled local funds if the City is required to have a reserve account and Mr. Hardy stated that yes, the City would need to create such an account. There would be two payment per year, one interest only and the second interest and principal. The reserve account could be used to help cover the cost of the payments. The reserve account should grow to a level one-half of the maximum interest and principal payment. Mr. Hardy also went on to explain that any monies for the sewer that are collected would have the operation and maintenance funds set aside first and then the money would go to the debt service fund and then the reserve. Alderman Duplechain asked if we approve this when will the funds be available? The Ordinance will publish Saturday and 30 days after that the loan will be able to close. Then Alderman Duplechain asked if the funds could be used to purchase the land and Mr. Todd Vincent said no, not the DEQ funds but the Water Sector funds (5 million) can and as soon as the DEQ loan closes, then the City will have the local match and the Water Sector funds will be available to pay for the purchase of the land. The City also has the million in Capital Outlay funds available. Motion to leave public session and return to regular session by Alderman Bourgeois and second by Alderman Duplechain. Motion by Alderwoman Simmons second Alderwoman Bourgeois to Adopt the Bond Ordinance 2024-10B Roll Call vote
Yeas, Alderman Bourgeois, Alderwoman Simmons, Alderman Duplechain
Nay: Alderwoman Clay, Alderwoman Moore
Absent: None
Abstain: None
Motion Carried
8. Adjourn-On motion by Alderman Bourgeois and second by Alderwoman Simmons, the meeting was adjourned.



____________/s/_____________________
Carol Bourgeois Jr., Mayor
ATTEST:



_____________/s/_________________
Susan Colden City Clerk