LUS Bond Issue Approved, Interest Payment Starts

Ok, got behind on posting this bit of news; the Lafayette City-Parish Council approved the issuance of the last round of bonds the city voted for back in 2005—unanimously. The unanimity is a good sign for the future and indicates that at least the current nay-sayers have limits to just how much damage they are willing to inflict on a well-respected utility.

The only new news in the reports was to be found in the Advertiser's final paragraph:

LUS Fiber has made an interest payment for its $110 million bond issue. That payment was made on Oct. 18 in the amount of $2,747,165.64, according to Lafayette Consolidated Government Chief Financial Officer Lorrie Toups.

That's the first interest payment and as much a milestone in its own way as taking the final batch of bond  money.

You can check out the story in the Advocate and a version that went out over the AP wire as well.