BATON ROUGE, LA – The State Bond Commission approved over $56 million for projects statewide and $5 million in savings by refinancing existing public debt at its April 19th meeting, according to State Treasurer John Kennedy.

“The Bond Commission gave approvals for various infrastructure and capital improvement projects across the state, plus specialty projects like the Tulane University of Louisiana Project that will upgrade the university’s computer network, and the Clean Water State Revolving Fund Match Program which will use revenue bonds as matching funds for Federal grants,” said Treasurer Kennedy. “We also saved the taxpayers millions by signing off on the refinancing of public debt for 14 local projects. The Calcasieu Parish School Board refinanced five series of bonds, saving $1.5 million for that parish.”

“Today the Bond Commission also ratified hedge agreements for two series of Taxable Gasoline and Fuels Tax Bonds, which will save the state from incurring a $58 million termination payment. In addition, the Commission approved continuance of a Gasoline & Fuels Tax Senior Lien Refunding issue which will provide the Transportation Trust Fund Program with approximately $4 million per year in debt savings, for a total of $77 million in savings over the term of the bonds,” said State Treasurer John Kennedy. “I commend the Bond Commission staff for negotiating such a great deal for Louisiana taxpayers.”

Among the individual projects the Bond Commission approved are:

  • Acadia Parish, Acadia Parish Police Jury, Sales Tax District No. 2: $9.75 million in Sales Tax Bonds: To construct, improve and repair roads, bridges and drainage in unincorporated areas of the Parish.
  • Allen Parish, Hospital Service District No. 3, $500,000 in Certificates of Indebtedness: For current expenses.
  • Franklin Parish, Hospital Service District No. 1, $1 million in Certificates of Indebtedness: For current expenses.
  • Iberia Parish, City of Jeanerette, $2.5 million in Water Revenue Bonds and $2.5 million in Bond Anticipation Notes: For improvements to the waterworks system and interim financing.
  • Iberia Parish, Iberia Parish Council, $5 million in Revenue Bonds: For capital improvements at the Acadiana Fairgrounds.
  • Madison Parish, Hospital Service District, $2 million in Revenue Anticipation Notes: For current expenses.
  • Orleans Parish, Louisiana Public Facilities Authority, Tulane University of Louisiana Project, $11.5 million in Revenue Bonds: To upgrade the university’s computer network and to develop ORACLE software.
  • Orleans Parish, Public Belt Railroad Commission of the City of New Orleans, $1.5 million in Taxable Indebtedness: For a rail extension project.
  • Richland Parish, Town of Delhi, $1.87 million in Water Revenue Bonds: For waterworks system improvements.
  • • Sabine Parish, Ebarb Waterworks District, $100,000 in Certificates of Indebtedness: To install a water well and acquire waterworks equipment and fixtures.
  • • St. Bernard Parish, St. Bernard Parish Council, $15 million in Sales Tax Bonds: For capital improvements.
  • Webster Parish, Town of Sibley, $65,000 loan: For improvements to the water distribution system.
  • West Carroll Parish, West Carroll Parish Law Enforcement District, $300,000 Promissory Note: For current operations.
  • Statewide, Louisiana Public Facilities Authority, Clean Water State Revolving Fund Match Program, $5 million in Revenue Bonds: To be used as matching funds necessary to obtain grants from the Environmental Protection Agency.

The Commission also approved over $5 million in savings for local governments by refinancing existing debts. Among the refinancings approved were:

  • Calcasieu Parish, Calcasieu Parish School Board, $1.5 million in savings.
  • Livingston Parish, Livingston Parish Council, $231,000 in savings.
  • Livingston Parish, Livingston Parish School Board, School District No. 22, $446,000 in savings.
  • Livingston Parish, Water District, Ward 2, $828,000 in savings.
  • Madison Parish, City of Tallulah, $427,000 in savings.
  • Morehouse Parish, Morehouse Parish School Board, Parishwide School District No. A, $227,000 in savings.
  • Ouachita Parish, City of Monroe, $419,000 in savings.
  • St. John the Baptist Parish, St. John the Baptist Parish School Board, School District No. 1, $356,000 in savings.
  • St. Tammany Parish, Hospital Service District No. 2, $603,000 in savings.
  • St. Tammany Parish, Recreation District No. 1, $256,000 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.

Contact:
Amber King
(225) 342-0012