Louisiana Bond Commission Approves Over $344.7 Million for Local Projects and Approximately $5.6 Million in Savings

BATON ROUGE, LAThe State Bond Commission approved over $344.7 million for projects statewide and approximately $5.6 million in savings from refinancing existing public debt at its June 20 meeting, according to State Treasurer John Kennedy.

“We found bonds to refinance that could generate $10 million in savings and result in lower debt service payments,” said Treasurer Kennedy. “All of the chatter in the capital markets is that rates are starting to move, so if we proceed with a refinancing we need to move quickly. If we start this process and find out that we can’t save taxpayers any money, we won’t move forward.”

Among the individual projects approved were:

  • Acadia Parish, Fire Protection District No. 7, $225,000 in Certificates of Indebtedness: for acquiring and equipping a fire truck.
  • Calcasieu Parish, Calcasieu Parish Police Jury, Waterworks District No. 5, Ward 3 & 8, $325,000 in Special Assessment Waterworks Improvement Certificates: for water improvements including equipment and installation.
  • Iberia Parish, Fire Protection District No. 1, $4.5 million in Limited Tax Revenue Bonds: for the construction and improvement of fire protection facilities and equipment including a new fire station, training facility, fire truck and equipment.
  • Rapides Parish, Rapides Parish Police Jury, Library Board of Control, $3 million in Limited Tax Certificates: for acquiring, constructing and improving public libraries.
  • St. Bernard Parish, St. Bernard Parish Law Enforcement District, $2.8 million in Limited Tax Certificates of Indebtedness: to provide continued and expanded law enforcement services to citizens.
  • Tensas Parish, Town of Waterproof, $65,000 in Certificates of Indebtedness: to acquire a backhoe.
  • Caddo Parish, North Caddo Hospital Service District, $6.2 million in Taxable Sales Tax Bonds: for improvements to hospital facilities including equipment and furnishings.
  • Caddo Parish, North Caddo Hospital Service District, $5 million in Sales Tax Bonds: for constructing, acquiring and improving hospital facilities
  • Calcasieu Parish, City of Westlake (Natural Gas Pipeline Extension Project), $450,000 in Revenue Bonds: to construct a natural gas pipeline extension to an existing industrial pipeline.
  • East Baton Rouge Parish, Hospital Service District No. 1 (Lane Regional Medical Center Project), $12 million in Revenue Bonds: for the acquisition and construction of capital improvements and equipment to Lane Regional Medical Center.
  • Ouachita Parish, Town of Sterlington, $350,000 in Taxable Utility Revenue Bonds: to construct and acquire wastewater and sewer system improvements.
  • Rapides Parish, City of Alexandria, $150 million in Utilities Revenue Bonds: for improvements to a combined electric power and light plant and system, waterworks plant and system, natural gas system and sewer system.
  • Tangipahoa Parish, Hospital Service District No. 2, $700,000 in Limited Tax Bonds: for constructing, acquiring and improving hospital facilities.
  • Vernon Parish, Town of Hornbeck (DEQ Project), $395,000 in Taxable Sewer Revenue Bonds: for acquiring, constructing and installing wastewater system improvements.
  • Webster Parish, City of Springhill, $5 million in Sales Tax Revenue Bonds: for sewer and sewerage disposal facility improvements.
  • West Baton Rouge Parish, West Baton Rouge Parish School Board, $3.5 million in bonds: for the repair and equipping of public school facilities.
  • Winn Parish, Winn Parish Police Jury (DEQ Project), $275,000 in Taxable Limited Tax Bonds: for constructing and installing public improvements that qualify as a “green” infrastructure project.
  • Louisiana Energy and Power Authority (LEPA Unit No. 1), $150 million in Power Project Revenue Bonds: to construct, acquire and equip a new combined cycle gas turbine electric generating plant to be located in Morgan City.

Likewise, the Commission approved approximately $5.6 million in savings for local governments by refinancing existing debt. Among the refinancings were:

  • Cameron Parish, Waterworks District No. 11, $1.375 million in Revenue Refunding Bonds: $85,000 in savings.
  • Concordia Parish, Waterworks District No. 1, $2.2 million in Revenue Refunding Bonds: $867,000 in savings.
  • Jefferson and St. Tammany Parishes, Greater New Orleans Expressway Commission, $44 million in Refunding Revenue Bonds: $3.7 million in savings.
  • Natchitoches Parish, City of Natchitoches, $1.8 million in Utilities Revenue Refunding Bonds: $146,000 in savings.
  • Sabine Parish, South Toledo Bend Waterworks District, $2.95 million in Water Revenue Refunding Bonds: $848,000 in savings.

Sarah Mulhearn
(225) 342-0012