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Sep 2, 2010 9:16 AM by Sharlee Barriere

Lafayette City-Parish Must Pay IRS $475,000

LAFAYETTE, La. (AP) - The Internal Revenue Service is seeking at least $475,000 from the Lafayette Consolidate Government in tax rebates and penalties for what the federal agency argues was too long a delay in spending bond money. The city-parish finance department submitted a request to the City-Parish Council this week to approve the expense. City-Parish Chief Financial Officer Becky Lalumia told council members in a memo that the issue is bond money that was not spent within three years after city-parish government borrowed it for construction projects. Lalumia has said that some of the bond money in question was not spent because of unforeseen project delays. The council is scheduled to vote on the IRS payment on Sept. 21.

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