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Message
re: Looks like Live Oak Sports complex may be shutting down
Posted on 12/9/14 at 12:45 pm to meauxjeaux2
Posted on 12/9/14 at 12:45 pm to meauxjeaux2
Why don't one of you who are for it start a donation site? I got $100 on it
0
Posted on 12/9/14 at 1:23 pm to tgrbaitn08
When he moves out of Mommy's house and has to pay for his own cell phone, he will learn about the real world...maybe then we can let him sit at the grown-up table.
Posted on 12/9/14 at 1:40 pm to meauxjeaux2
I wonder if PARDS little league will benefit from this? They could sure use a boost.
Posted on 12/9/14 at 2:11 pm to theronswanson
quote:another fricking idiot right here.
Why in the hell should sports be funded by the taxpayers?
As has been said already,sports pays for themselves.
The complex is what needed funding.
Posted on 12/9/14 at 2:35 pm to meauxjeaux2
Looks like bonds were sold to build it.....
LINK
quote:
Live Oak Sports Complex Project Revenue Bonds. Series 2008
Live Oak Sports Complex Project Revenue Bonds, Series 2008 -
$4,455,000, dated September 4, 2008, due in annual installments
of principal and semi-annual installments of interest through
September 1, 2038; variable interest rate ranging from 3.00%
to 5.25%. $ 4,060,000
A schedule of the outstanding Live Oak Sports Complex Project Revenue Bonds, Series
2008, principal and interest requirements is as follows:
Live Oak Sports Complex Revenue Bonds
Year Ended December 31, Principal Interest Total
2014 $ 85,000 $ 205,512 $ 290,512
2015 90,000 202,325 292,325
2016 95,000 198,725 293,725
2017 100,000 194,925 294,925
2018 100,000 190,675 290,675
2019-2023 590,000 873,588 1,463,588
2024 - 2028 765,000 703,100 1,468,100
2029 - 2033 975,000 488,050 1,463,050
2034 - 2038 1,260,000 205,538 1,465,538
Total $ 4,060,000 $ 3,262,438 $ 7,322,438
The Live Oak Sports Complex Project Revenue Bonds were issued through the
Louisiana Local Government Environmental Facilities and Community Development
Authority (the Authority) for the purpose of providing funding to finance the cost of
acquiring, designing, constructing, and developing public parks, playgrounds, and
recreational properties and facilities within Recreation District No. 2 of Livingston Parish.
As a condition to enter into this debt, the Council pledged lawfully available funds to
secure payment of these bonds as defined in the agreement between the Council and
the Authority. In addition, as a condition of the loan, a Reserve Fund Requirement for
this loan was necessary to complete the financing. The Reserve Fund was funded with
a withholding of the bond proceeds of $295,450.
The Council entered into a Local Service Agreement with Recreation District No. 2 of
Livingston Parish where the Recreation District agreed to repay the principal and interest
on the bonds in exchange for the Council to administer the construction funds.
quote:
Governmental Activity Debt (Continued)
Live Oak Sports Complex Project Revenue Bonds. Series 2008 (Continued)
According to the terms of the Trust Indenture, the Council established the Live Oak
Sports Complex Sinking Fund - Debt Service Fund. All amounts deposited in the Debt
Service Fund are expected to be depleted at least once each bond year, except for a
reasonable carryover amount which will not exceed the greater of (i) the earnings on the
Debt Service Fund for the immediately preceding bond year, or (ii) 1/12 of the next
principal payment per month and 1/6 of the next interest payment per month on the
bonds for the immediately preceding bond year. At December 31, 2013, the Live Oak
Sports Complex Project Revenue Bond sinking fund was fully funded with an actual
balance of $127,834.
LINK
Posted on 12/9/14 at 2:54 pm to meauxjeaux2
quote:
The complex is what needed funding.
...and as I've said - make it self sustainable like what everyone says about the CATS system. Not everyone uses it, so why should the entire parish foot the bill? Spare me the endless argument of OMGIMPORTANT and show me how little Jimmy's baseball team and Aunt Sally walking the track is benefiting citizens on the other side of the parish?
quote:
The millage is expected to bring in about $850,000 per year and accounts for the vast majority of the district’s funding. The district has an annual operating budget of about $700,000 but has several projects on the horizon, Graves said.
The district is looking to purchase land near the complex for cross country biking and jogging trails. Further down the line, Graves would like to build a community center that could host events such as wedding receptions.
“The size is going to be dictated by the funding we have,” he said.
Sounds like the board got a little cockstrong in assuming it was a slam dunk to keep the mills the same and expand rather than reduce the mills for whats in the actual budget. A little reality check for Mr. and Mrs. Suburbia that not everyone gives a shite about your dumb kids all star team that you proudly display on the rear glass of your SUV. Go get sponsors for the money, sell some chocolate bars, etc. Don't assume that everyone is going to pay for your crap, leeches.
Posted on 12/9/14 at 2:57 pm to Zantrix
dude you mad because your match.com account isnt getting any hits this week?
Stick to driving your grocery truck and let the grown ups talk.
Stick to driving your grocery truck and let the grown ups talk.
Posted on 12/9/14 at 3:02 pm to tgrbaitn08
quote:
Stick to driving your grocery truck and let the grown ups whine about not getting free stuff from the government.
fify.
Posted on 12/9/14 at 3:03 pm to meauxjeaux2
Wait was this on all LP voters ballot? I sure as hell would have voted against it if it were on my ballot.
850k a year budget and then every kid that uses it still has to pay $70-$90?
How much of the 700k a year was Mike Hansen taking in?
850k a year budget and then every kid that uses it still has to pay $70-$90?
How much of the 700k a year was Mike Hansen taking in?
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