BATON ROUGE, LA – The State Bond Commission approved over $72 million for projects statewide and $5.2 million in savings by refinancing existing public debt at its January 19th meeting, according to State Treasurer John Kennedy.
“The Bond Commission approved funding for three Orleans Parish projects, including a public military academy, senior residential housing, and a multifamily complex as well as statewide approvals for various infrastructure, capital improvements and economic development projects,” said Treasurer Kennedy. “We also saved the taxpayers millions by signing off on the refinancing of public debt for four local projects.”
Among the individual projects the Bond Commission approved are:
• Iberia Parish, Iberia Parish Council, Economic Development District No. 1, $10 million in Sales Tax Bonds: For economic development projects in the Port of Iberia, the Acadiana Regional Airport, the Port's Millennium Project and other economic development projects.
• Lincoln Parish, Village of Simsboro, $120,000 in DEQ ARRA Sewer Revenue Bonds: to acquire, construct and install improvements, extensions and additions to sewer system.
• Orleans Parish, Louisiana Community Development Authority, New Orleans Military and Maritime Academy Inc. Project, $11 million in Revenue Bonds: to finance the location of the permanent operations of the Academy at Federal City, including the design, rehabilitation, demolition, construction and equipping of buildings with a combination of classrooms, halls and office and/or conference rooms and related site improvements and fund a debt service reserve fund.
• Orleans Parish, Louisiana Housing Finance Agency, 1501 Canal Senior Housing Project, $22 million in Multifamily Housing Revenue Bonds: To acquire, rehabilitate/convert an unoccupied commercial building into a 112-unit residential facility.
• Orleans Parish, Louisiana Community Development Authority, Peace Lake Apartments Project, $12 million in Multifamily Housing Revenue Bonds: To acquire, rehabilitate and equip a 130 unit multifamily housing complex.
• Rapides Parish, Rapides Parish Police Jury, $725,000 in Public Improvement Sales Tax Bonds for capital improvements.
• St. Bernard Parish, St. Bernard Parish Council, $10 million in Sales Tax Bonds for capital improvements.
• St. Mary Parish, City of Morgan City, $4 million in Sales Tax Bonds: To construct, improve, resurface, maintain and provide street, drainage for public streets, alleys, sidewalks and public wharves, and to acquire equipment.
• Union Parish, Waterworks District No. 1, $600,000 in Certificates of Indebtedness: For improvements to the water system, including construction of a pre-owned water tank, including removal of the old tank and water line distribution improvements.
• Winn Parish, City of Winnfield, $2.5 million in Water Revenue Bonds: To construct and acquire improvements, extensions and replacements to the waterworks system, including equipment and furnishings.
The Commission also approved over $5.2 million in savings for local government by refinancing existing debts. Among the refinancings approved were:
• Lafayette Parish, City of Lafayette, $4.6 million in savings.
• Vernon Parish, Vernon Parish School Board, Pitkin School District No. 144, $258,000 in savings.
• Vernon Parish, Vernon Parish School Board, Wardwide School District, Ward 7, $210,000 in savings.
• West Feliciana Parish, West Feliciana Parish School Board, Consolidated School District No. 1, $138,000 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.