St. James wants state to approve to sell bonds for NuStar tank farm
06.21.2010 - NEWS
June 18, 2010 [2theadvocate.com] - The St. James Parish Council agreed to consider a proposal to sell $100 million in state revenue bonds to finance a west bank tank farm expansion project.

NuStar Logistics LP would use money from the bond sale to add 11 more storage tanks to its Mississippi River
terminal near the community of St. James, officials told the Parish Council Wednesday.

The expansion would create about 275 temporary jobs and 14 permanent positions, officials said.

Parish President Dale Hymel Jr. said the parish had gained a 12 percent increase in sales tax revenue based on business transactions at the facility.

β€œIt’s refreshing to know we have an industry creating jobs (and) at the same time creating sales tax revenue that we collect off the construction,” Hymel said.

The state Bond Commission has the authority to approve or deny the bond sale.

The council approved another bond issue in January that would allow the company to add seven tanks to the facility.

Prior to any final vote, the council plans to hold a public hearing during its July 7 meeting on the proposed ordinance authorizing the council to issue the bonds.

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