According to Bogalusa Council President Mark Irvin,
- a YES vote means any money in reserves at the Industrial Park Complex and future funds from the Industrial Complex Fund in the Industrial Park would be transferred to the COBERS pension program which the fiscal administrator has told the Bogalusa City Council would raise about $16 million for the pension fund and would begin to stabilize the COBERS pension fund. However, the City of Bogalusa would only have the rental income to pay for repairs to existing buildings and insurance for buildings in the Industrial Park Complex .If new buildings was built in the Industrial Park Complex, then the City of Bogalusa would have to borrow that money from the bank with interest. This would put the City further in debt if buildings was built or needed major repairs that are not covered by insurance
- a NO vote could result in reduction of city services. It would keep the funds at the Industrial Park for possible future buildings if needed or to add onto existing buildings without borrowing money if needed.
To see your Sample Ballot, go to https://voterportal.sos.la.gov/sampleballot and select your Parish, Ward, and Precinct.