BATON ROUGE, LA – The State Bond Commission approved over $18 million for projects statewide and $3.7 million in savings by refinancing existing public debt at its November 17th meeting, according to State Treasurer John Kennedy.
“The Bond Commission approved funding for various community projects and improvements,” said Treasurer Kennedy. “We also saved the taxpayers millions by signing off on several refinancings of public debt that will save money for state and local projects.”
Among the individual projects the Bond Commission approved are:
• DeSoto Parish, City of Mansfield, $3.28 million: To acquire, construct and improve waterworks facilities, including improvements, extensions, replacements, equipment, fixtures and machinery.
• Rapides Parish, City of Alexandria, $1 million: To acquire, extend and/or improve the sewer portion of the combined electric power and light plant and system, waterworks plant and system, natural gas system and sewer system.
• St. Mary Parish, Industrial Development Board of the Parish of St. Mary, Louisiana Inc., Charenton Canal, LLC Project, $7.5 million: To acquire approximately 25 acres of land on the Charenton Canal in Franklin; bulk heading the water frontage; building a 250' X 50' slip with a 600-ton capacity travel lift; and to construct a 50,000 sq. ft. fabrication facility, a 25,000 sq. ft. storage facility, a 10,000 sq. ft. office facility and a 6,000 sq. ft. employee facility.
• Vermilion Parish, City of Abbeville, $923,000 for capital improvements.
• Multiple Parishes, Louisiana Community Development Authority, Density Utilities of Louisiana, LLC Project, $6 million: To acquire, construct, rehabilitate and equip one or more distributive sewer systems and to provide a reserve fund. This project will encompass multiple sites in the following cities: Albany, Belle Rose, Covington, Donaldsonville, Gonzales, Greenwell Springs, Hammond, Labadieville, Loranger, Morgan City, Napoleonville, Pierre Part, Plaincourtville, Plattenville, Ponchatoula, Port Allen, Prairieville, St. Francisville, Tickfaw and Watson.
The Commission also approved over $3.7 million in savings for local government by refinancing existing debts. Among the refinancings approved are:
• Cameron Parish, Cameron Parish School District No. 4, $122,000 in savings.
• East Baton Rouge Parish, City of Baton Rouge, $2.5 million in savings and funding of a debt service reserve.
• Lafayette Parish, Lafayette City-Parish Council, $938,000 in savings.
• St. James Parish, St. James Parish School District No. 1, $53,000 in savings.
• Vermilion Parish, City of Abbeville, $112,000 in savings.
The Louisiana State Bond Commission meets monthly to review and approve applications from parishes, municipalities, special taxing districts, and other political subdivisions of the State requesting authority to incur debt.