LAFAYETTE, La. (KLFY) — Lafayette will get a new school, after funding was secured Friday with the sale of nearly $50 million in bonds, officials said.
The Lafayette Parish School System announced the successful closing of a nearly $50 million bond sale today. Proceeds will fund the construction of a kindergarten through 8th grade school on the J.W. Faulk Elementary property to serve students at Faulk, Dr. Raphael Baranco Elementary and Paul Breaux Middle School.
The board voted on Sept. 18 to seek the funding from the State Bond Commission. The bonds received an AA+ rating from S&P Global Ratings. This strong financial position reflects the district’s ability to streamline the district’s budget and create the capacity for important infrastructure investments, according to LPSS Superintendent Francis Touchet, Jr…