Business Report: Fitch downgrades some Livingston Parish bonds, calls outlook ‘negative’

Business Report: Fitch downgrades some Livingston Parish bonds, calls outlook ‘negative’

Citing “continued concerns” over a diminished general fund and uncertainty surrounding a dispute over FEMA reimbursement for debris removal following Hurricane Gustav in 2008—for which Livingston Parish could be on the hook $60 million—Fitch Ratings has downgraded $6.9 million worth of general obligation bonds in the parish from “A+” to “A.” Fitch added that “the ratings outlook remains negative.”……read the remainder below. 

MY TAKE: This is not good for financial future of Livingston Parish, THE PARISH that’s supposed to be the fastest growing in the State of Louisiana. Public School funding is a mess and I even heard of Public School kids having to have fund raisers to support “public schools”.  Public tax dollars, managed well, are supposed to be paying for public schools.  And now, Livingston Parish residents are being asked to vote on a publich school tax.   Wait a minute here!  I go to McDonalds in Denham Springs pay what, 10 cents on the dollar in local Parish taxes already.  We pay taxes on our L.P. homes already at L.P. Council set high rates.  And now L.P. Officials want more money to the bills?   If L.P. wants to remain a progressive Parish locals want to move to, then it better QUIT ADDING TAXES on its’ citizens!  Good Grief!  Bill Cobb, Appraiser 

See on businessreport.com

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