Panel also approved more than $14 million in interest savings

BATON ROUGE, LA – The State Bond Commission approved $244 million for projects statewide and approved more than $14 million in interest savings at its July 21 meeting, according to State Treasurer John Kennedy.

“We approved important projects that will touch every corner of our state,” said Treasurer Kennedy. “We also continue to find interest savings, which is vitally important in this tough economy. These savings benefit Louisiana’s taxpayers.”

Among the individual projects approved were:

  • Acadia Parish, $1.85 million in Utility Revenue Bonds for the city of Rayne’s DEQ Project: 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 incidental costs and fees.
  • Grant Parish, $162,000 in Certificates of Indebtedness for the village of Dry Prong: for constructing improvements to the potable water distribution system.
  • Iberville Parish, $11 million in Sales Tax Refunding Bonds for the Iberville Parish Council: saving taxpayers $899,013.
  • Lafourche Parish, $44 million in Revenue Bonds for the Law Enforcement District: for (1) constructing, acquiring and improving parish jail and detention facilities, including sites, furnishings, and equipment and (2) providing a reserve fund.
  • Livingston Parish, $5.5 million in Utility Systems Revenue Refunding Bonds for the town of Livingston: saving taxpayers $503,424.
  • Orleans Parish, $60 million in Revenue Refunding Bonds for the Louisiana Public Facilities Authority’s Archdiocese of New Orleans Project: saving $12,146,390.
  • St. Martin Parish, $7 million in General Obligation School Refunding Bonds for St. Martin Parish School Board, School District: saving taxpayers $365,558.
  • St. Tammany Parish, $35 million in Revenue Bonds for the Illinois Finance Authority’s Ness Healthcare NFP: for (1) acquisition of an acute care and residential psychiatric hospital in Mandeville, St. Tammany Parish, (2) paying or reimbursing for certain cost of remodeling, renovating, improving, furnishing and equipping facilities, (3) paying working capital and (4) funding a debt service reserve fund.
  • Tangipahoa Parish, $2.65 million in Revenue Refunding Bonds for the Tangipahoa Parish Council: saving taxpayers $24,691.
  • Tangipahoa Parish, $10.935 million in Limited Tax Bonds for Recreation District No. 3: for constructing and improving recreational facilities.
  • Tangipahoa Parish, $4.25 million in Revenue Refunding Bonds for the Louisiana Community Development Authority’s Southeastern Louisiana University Student Housing/University Facilities, Inc.: Phase Four Parking Project: saving taxpayers $137,704.
  • Tangipahoa Parish, $42 million in Revenue Bonds for the Louisiana Community Development Authority’s Southeastern Louisiana University Student Housing/University Facilities, Inc. Project: for (1) development, design, construction, and equipping of replacement student housing and related facilities, (2) funding a deposit to a debt service reserve fund or paying the premium for a debt service reserve fund surety policy, if necessary and (3) funding capitalized interest, if necessary.
  • Terrebonne Parish, $20 million in Hospital Revenue Bonds for Hospital Service District No. 1’s Terrebonne General Medical Center Project: for (1) renovation, construction, acquisition and installation of improvements to Terrebonne General Medical Center, including the purchase, licensing and implementation of an electronic medical records system and all improvements related and (2) funding a debt reserve fund, if required.

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