Proceeds Will Improve Public Services and Infrastructure

BATON ROUGE, LA – Public services and facilities in Louisiana will get a boost from loans, bond issues and refinancings approved at this months meeting of the State Bond Commission, according to State Treasurer John Kennedy.

The Bond Commission is where local governments go to borrow money, either by issuing bonds or taking out loans, to complete necessary projects, said Treasurer Kennedy. We also refinance debt so that towns, cities and other municipalities can save taxpayers money. The projects we approved today enable local governments to provide necessary improvements to public facilities in this area and will guarantee that citizens still have access to important public services.

The Bond Commission approved:

Central Louisiana

A $500,000 loan for the Riverland Medical Center in Concordia Parish to fund operational expenses.
A $1 million loan for LaSalle Parish to pay for hospital expenses.
$150,000 in bonds for the city of Marksville to make improvements to its sewerage system.
$370,000 in bonds for the town of Simmesport to refinance debt, saving taxpayers $39,295.

Baton Rouge Area

A $224,000 loan for the East Feliciana Parish Police Jury to pay expenses of the General Fund.
A $500,000 loan for St. Helena Parish to pay hospital expenses.
A $2 million loan for the West Feliciana Parish Law Enforcement District to finance the construction of a work release detention facility.
$525,000 in bonds (preliminary approval) for Ascension Parish to pay for construction and improvements to its waterworks system.
$6 million in bonds for Livingston Parish to pay for the construction of a new wastewater treatment plant and to refinance outstanding debt.

Lafayette Area

An $80,000 loan for Acadia Parish to acquire and equip a fire truck and to construct fire substations.
A $1.5 million loan for the city of Crowley to renovate its sewerage system.
A $1 million loan for Bunkie General Hospital in Avoyelles Parish to fund expenses.
A $250,000 loan for improvements to St. Martin Parishs voting machine warehouse.
$200 million in bonds (preliminary approval) for the city of Lafayette to improve its electric power and light, waterworks and sewer systems.
$3.5 million in bonds for the city of Lafayette to refinance debt, saving taxpayers $302,212.
$770,000 in bonds for the town of Youngsville to refinance debt, saving taxpayers $101,283.
$8.9 million in bonds for the St. Martin Parish Council to refinance debt in order to finance the construction of a salt processing facility for Cargill Inc.
$5.4 million in bonds for the St. Martin Parish Council to resurface and reconstruct parish roads and road bridges.
$1.3 million in bonds for St. Mary Parish to refinance debt, saving taxpayers $170,798.

Southwest Louisiana

A $200,000 loan for Allen Parish to finance law enforcement expenses.
A $330,000 loan for the town of Iowa to finance renovations to its town hall.
$23 million in bonds for the Calcasieu Parish School Board to refinance debt, saving taxpayers more than $1 million.
$900,000 in bonds (supplemental approval) to finance improvements to parking lots and travel lanes within the existing tailgating area of the Doland Athletic Complex at McNeese State University in Lake Charles.
$10 million in bonds (preliminary approval) for the Calcasieu Parish Public Trust Authority to assist low- to moderate-income first-time homebuyers in the Imperial Calcasieu Parish area.

New Orleans Area

A $50 million loan for the Orleans Parish School Board to finance expenses.
A $4.1 million loan for the city of Slidell in St. Tammany Parish to finance the cost of construction, improvements, rehabilitation and expansion to the Terrace Avenue wastewater treatment plan.
$100 million bonds for the Housing Authority of New Orleans to finance the redevelopment of public housing in New Orleans.
$10 million in bonds for the Plaquemines Parish Council to improve sewerage treatment and disposal facilities.
$11 million in bonds for the St. Charles Parish School Board to refinance debt, resulting in a savings of $857,544 for area taxpayers.
$7.5 million in bonds for St. Tammany Parish’s Recreation District No. 1 to refinance debt, saving $318,573.
$18 million in bonds for the St. Tammany Parish School Board to refinance debt, saving taxpayers $830,877.
$12 million in bonds to finance improvements to wastewater treatment plants in St. Tammany Parish. The bonds will also be used to refinance existing debt.
$15 million in bonds (preliminary approval) for the Industrial Development Board of the city of New Orleans to finance the acquisition, construction and equipment of an F2F Sporting Goods Manufacturing, Inc. apparel manufacturing and distribution facility.
A $7.25 million non-cash line of credit to finance the planning and construction of the Southeast Louisiana War Veterans Home in St. John the Baptist Parish. This project is contained in Priority 5 of the current Capital outlay Act.

North Louisiana

$3.6 million in bonds for Franklin Parish’s Law Enforcement District to refinance debt, saving taxpayers $229,651.
$300,000 in bonds for the village of Quitman for water system improvements.
$775,000 in bonds for the Tallulah Housing Authority in Madison Parish for improvements to the rural rental housing project for the elderly and handicapped.
A cooperative endeavor agreement between the Louisiana Department of Economic Development and the town of Bernice to execute a $3.2 million note with the Federal Railroad Administration to revive the Bernice Industrial Complex.
A $389,000 loan for Caddo Parish to purchase emergency vehicles and refinance debt.
A $7.25 million non-cash line of credit to finance the planning and construction of the Southeast Louisiana War Veterans Home in Bossier Parish. This project is contained in Priority 5 of the current Capital Outlay Act.

When infrastructure like roads, bridges and buildings improves and expands, Louisiana businesses and jobs can grow, said Treasurer Kennedy.That is why its so important for the Bond Commission to help local governments get the funding they need to keep the state moving forward.

Statewide approvals include $100 million in bonds for the Louisiana Housing Finance Agency to refinance prepayments and repayments of outstanding single-family mortgage revenue bonds.

Contact:
Sarah Mulhearn
(225) 342-0012