Tuesday, June 12, 2007

Council to Approve Fiber Bond Ordinance

It took three years to get here, but the Lafayette City-Parish Council is expected today to take a big step toward making the fiber-to-the-home project a reality.

The council and Lafayette Public Utilities Authority are scheduled to meet at 4:30 p.m. today to adopt an ordinance authorizing the sale of bonds to build the fiber project. The meeting is at City Hall, 705 W. University Ave.
That the news as the Advertiser represents it. If things go true to form both the LPUA and the council itself will vote to approve sale. The LPUA, a subset of the council made up of city-of-Lafayette members, is the official governing body of LUS and hence the new telecom utility division but the approval of both bodies has been sought in the past, "just to make sure."

It will be an historic vote that will clear the way for the bond sale. After tomorrow all that will be left is proceeding to the actual sale...and building the system.

2 comments:

Anonymous said...

Do you beleive this will set off another legal battle? They have already gotten the approval from both groups. It looks like a easy way out for not being able to sell the bonds because of high interest rates. Am I wrong?

John said...

anon,

"Am I wrong?"

I think so. :-)

You're mistaken to think that this is anything other than a perfectly normal and predicted event. You always have to go before the council and get your final bond ordinance, as approved by the big guys in NY, signed off on.

The interest rates are not as high as the plans call for. So we're still on the right side of that. If they think there is an advantage to a couple of weeks of delay they can do that. (But I think they are too eager to get going to do so unless they see a pretty certain return.)