Durel Wants Vote ‘Yes’ On Amendment 4
With midterm elections nearly upon us, Acadiana citizens will be asked to vote on a number of amendments that can at times be hard to understand. City-Parish President Joey Durel joined ‘Nathan and Bernie in the Morning‘ for his weekly ‘Lafayette Live‘ segment along with Dr. Kam Movassaghi to discuss one of those amendments regarding local government and why they believe it's a good idea.
"I’m here on behalf of amendment number four which gives the treasurer of our state the authority to invest public funds in banks called infrastructure banks," said Movassaghi. "This will allow the treasurer in the same way that he takes the public monies to invest in a variety of instruments, this bank would be another option for him."
Mavassaghi explained that while state and federal governments have the authority to issue bonds and borrow money in a number of ways, the rules at the local level are not as flexible. A vote "yes" on amendment four would add financial flexibility for local municipalities.
"You could make the analogy to the LPTFA back in the 70s that made it a little bit easier for first time home buyers to buy a new house," said Durel.