Panel also approved more than $18 million in savings

BATON ROUGE, LA – The State Bond Commission approved $143 million for projects statewide and saved taxpayers more than $18 million at its Oct. 16 meeting, according to State Treasurer John Kennedy.

“We approved funding that will repair schools, improve drinking water and enhance health care infrastructure, among other projects,” said Treasurer Kennedy. “We also continue to save money on interest.”

Among the individual projects approved were:

  • West Baton Rouge Parish, $250,000 in Certificates of Indebtedness, Series 2014, not exceeding 6%, not exceeding 10 years for the West Baton Rouge Convention and Visitors Bureau: for financing the cost of signage, lighting, equipment and other capital improvements and renovations to the West Baton Rouge Tourist Information and Conference Center.
  • West Carroll Parish, $1,534,000 Letter of Credit, not exceeding 6%, not exceeding 1 year, for the West Carroll Parish Police Jury: for satisfying DEQ’s financial assurance requirements for the payment of closure costs for the landfill and incurring debt to the extent funds are drawn from the Letter of Credit.
  • Acadia Parish, $7,358,000 in Taxable Limited Tax Revenue Bonds (Qualified Zone Academy Bond), Series 2014, not exceeding 1%, not exceeding 17 years for the Acadia Parish School Board: for rehabilitating, repairing and equipping schools.
  • Ascension Parish, $2,500,000 in Taxable Sewer Revenue Bonds, in one or more series, not exceeding 0.95%, not exceeding 22 years, for the city of Donaldsonville: for constructing and acquiring improvements and extensions to the sanitary sewage collection and disposal system, including all necessary land, equipment and furnishings and all engineering, legal and other incidentals costs and fees.
  • Ascension Parish, $15,170,000 Taxable Sales Tax Bonds, in one or more series, not exceeding 0.95%, not exceeding 20 years, for the city of Gonzales: for acquisition, construction and improvements, extensions and replacements to the wastewater treatment and disposal system, including acquisition and construction of new collection systems and a treatment plant
  • Avoyelles Parish, $2,100,000 in Taxable Water Revenue Bonds, not exceeding 3.45%, not exceeding 22 years for Waterworks District No. 1, for: constructing and acquiring additions, extensions and improvements to the drinking water system, including equipment and fixtures.
  • Caddo Parish, $75,000,000 in Water and Sewer Revenue Bonds, in one or more series, not exceeding 6%, not exceeding 25 years, for the city of Shreveport: for acquisition and construction of improvements, extensions and replacements to the combined revenue producing water and sewer utility system.
  • Lafayette Parish, $4,200,000 in Sales Tax Bonds, in one or more series, not exceeding 5%, not exceeding 15 years, for the city of Carencro: for capital improvements and funding a reserve fund
  • Union Parish, $255,000 in Water Revenue Bonds, in one or more series, not exceeding 3.45%, not exceeding 22 years, for the town of Bernice: for acquiring and constructing additions, extensions, and improvements to the drinking water system, including equipment and fixtures.
  • Jefferson Parish, $25,000,000 in Multifamily Housing Revenue Bonds, in one or more series, not exceeding 8%, not exceeding 40 years, for the Louisiana Community Development Authority, Tanglewood Apartments Project: for acquisition, rehabilitation, and equipping of a 384 unit multifamily housing complex located in Westwego.
  • Calcasieu Parish, $10,000,000 in Hospital Revenue Bonds, Series 2015, not exceeding 6%, not exceeding 15 years, for the Calcasieu Parish Public Trust Authority, Lake Charles Memorial Hospital Project: for acquisition, construction, renovation and equipping of hospital facilities.

Likewise, the commission approved more than $18 million in savings by refinancing existing debt. The savings were:

  • Ascension Parish, $1,600,000 in Revenue Refunding Bonds, in one or more series, not exceeding 5%, mature no later than August 1, 2035, for Fire Protection District No. 1, for refunding Revenue Bonds, Series 2005: saving taxpayers $64,800.
  • Caddo Parish, $27,500,000 in General Obligation Refunding Bonds, in one or more series, not exceeding 5%, not exceeding 5 years, refunding all or a portion of General Obligation Refunding Bonds, Series 2005A, for the city of Shreveport: saving taxpayers, $3.6 million.
  • Caddo Parish, $76,700,000 in Water and Sewer Revenue Refunding Bonds, in one or more series, not exceeding 5.5%, not exceeding 21 years, refunding all or a portion of Water and Sewer Revenue Bonds, Series 2001A, 2001B, 2001C, 2002A, 2002B, 2003A, 2003B, 2004A, LCDA Revenue Bonds, Series 2007 and LCDA Utility Revenue Bonds, Series 2010C for the city of Shreveport: saving taxpayers $3.8 million.
  • Orleans Parish, – $80,000,000 in Special Tax Refunding Bonds, Series 2014, not exceeding 5%, mature no later than July 15, 2025, for the Ernest N. Morial – New Orleans Exhibition Hall Authority for refunding Senior Subordinate Special Tax Refunding Bonds, Series 2004, saving taxpayers $10.6 million.

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. For more information, visit www.LATreasury.com.

Contact:
Michelle Millhollon
(225) 342-0012
mmillhollon@treasury.state.la.us