Opelousas Trying To Refinance Debt

Opelousas may have found a way to ease their debt payments.

The Board of Alderman gave their approval of a resolution that will direct government to refinance their debt.  The move could mean a savings of a million dollars this year, and next, but it would require the government to pay the bonds for another five years past the original agreement.

Once they are able to refinance, it means they won't save money in the long run, but they will have the ability to stretch out the total amount of debt they owe until 2025.  They now need approval of the State Bond Commission to proceed.