Panel also approved more than $29.3 million in interest savings

BATON ROUGE, LA – The State Bond Commission approved $215 million for projects statewide and approved more than $29.3 million in savings at its August 20 meeting, according to State Treasurer John Kennedy.

“We’re continuing to find interest savings on debt,” said Treasurer Kennedy. “Finding these savings for taxpayers is as important to me as shrinking the interest rate on your mortgage is to your household. So far this year we’ve generated more than $100 million in savings by refinancing debt to capture lower interest rates.”

Among the individual projects approved were:

  • Avoyelles Parish, $3.25 million in Utilities Revenue Bonds for the city of Bunkie: for (1) constructing and acquiring additions, extensions and improvements to the sewerage system and (2) providing for a reserve.
  • Avoyelles Parish, $105,000 in Utility Revenue Certificates of Indebtedness for the village of Moreauville: for improvements to the waterworks system, including rehabilitation of the sewer collection system and line replacement.
  • Calcasieu Parish, $2.7 million in General Obligation Refunding Bonds for the Calcasieu Parish School Board, School District No. 26: saving taxpayers $77,953.
  • Calcasieu Parish, $7.25 million in Revenue Refunding Bonds for the West Calcasieu Parish Community Center Authority: saving taxpayers $199,953.
  • Claiborne Parish, $2.25 million in Utility Revenue Bonds for the town of Homer: for constructing and acquiring improvements, extensions and replacements to its combined drinking water and wastewater treatment and disposal system, including appurtenant equipment, accessories and properties.
  • East Baton Rouge Parish, $75 million in Revenue Refunding Bonds for the Louisiana Community Development Authority’s Woman’s Hospital Foundation Project: saving $23 million.
  • East Baton Rouge Parish, $21.5 million in Single Family Mortgage Revenue Refunding Bonds for the Capital Area Finance Authority: saving $3.5 million.
  • Lafayette Parish, $12 million in Recreational Facility Sales Tax Revenue Bonds for the city of Broussard: for (1) acquisition, construction and equipping of recreational facilities and related infrastructure and (2) funding a reserve fund or paying the premium for a debt service reserve fund surety policy, to the extent required.
  • Morehouse Parish, $1.7 million in Sewer Revenue Bonds for the city of Bastrop: for acquisition, construction, repair, replacement and/or rehabilitation of existing lift stations as well as other lift stations and other treatment and/or collection facilities, including the acquisition and installation of equipment.
  • Ouachita Parish, $14 million in General Obligation School Refunding Bonds for the East Ouachita Parish School District: saving taxpayers $747,719.
  • Pointe Coupee Parish, $5 million in Sales Tax Bonds for the Pointe Coupee Parish Police Jury: for constructing, improving and resurfacing public roads and bridges.
  • St. Helena Parish, $200,000 in Certificates of Indebtedness for Recreation District, Ward 5: for acquiring, constructing and improving recreational facilities and equipment, specifically the funds will be used to build a Recreational Pavilion at the St. Helena Recreational Park.
  • St. Mary Parish, $17 million in General Obligation School Refunding Bonds for the St. Mary Parish School Board, Consolidated School Board District No. 1: saving taxpayers $1.2 million.
  • St. Mary Parish, $3.75 million in General Obligation School Refunding Bonds for the St. Mary Parish School Board, Special School District No. 4: saving taxpayers $347,524.
  • Vermilion Parish, $5 million in Sales Tax Bonds for Hospital Service District No. 2: for (1) constructing an inpatient psychiatric unit that will also serve as a saferoom for first responders and other critical personnel during extreme wind events and a rural health clinic in Erath, including equipment and furnishings in both facilities and (2) funding a reserve fund, to the extent required.
  • Vernon Parish, $750,000 in Sewer Revenue Bonds for the town of New Llano: for acquiring and constructing extensions and improvements to the sewerage system, including appurtenant equipment and fixtures.

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