Sheriff’s office purchases prison facilities

The Richland Parish Law Enforcement District announced this week that as a result of a recent bond transaction, it has acquired the two existing correctional facilities located on Hwy 15, which have been leased by the District for many years.

 “The purchase of these two facilities will better serve the needs of the citizens of Richland Parish and the surrounding areas.  The best part about this acquisition is that the taxpayers of the Parish of Richland are not incurring any costs for the purchase of these two detention centers, because the bonds are secured by and payable only from the revenues we receive from the operation of the two facilities,” Richland Parish Sheriff Gary Gilley said.  

The sheriff had initiated the process earlier this year, which concluded with the successful effort to purchase the facilities for significantly less than appraised value.   The sheriff further stated that after monthly operational costs and debt service, the sheriff’s department anticipates the availability of excess funds that will be used by his office to better serve the citizens of Richland Parish. 

The bonds were purchased by Cross Keys Bank with participation by Citizens Progressive Bank.  Financing professionals involved in the transaction included Boles, Shafto and Leonard, LLC, Monroe, as bond counsel and Government Consultants, Inc., Baton Rouge,  as municipal advisor. 

Richland Today

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