Panel also approved more than $57 million in interest savings

BATON ROUGE, LA – The State Bond Commission approved $403 million for projects statewide and approved more than $57 million in interest savings at its June 16 meeting, according to State Treasurer John Kennedy.

“The refinancing of debt for Louisiana Citizens Property Insurance Corp. will save money for homeowners across Louisiana,” said Treasurer Kennedy. “Homeowners will see savings each month on their Citizens’ assessment. The size of the savings will depend on market conditions, but assessments will drop.”

Among the individual projects approved were:

  • Acadia Parish, $25,000 in Certificate of Indebtedness for Fire Protection District No. 8: for acquiring and equipping a fire truck.
  • Claiborne Parish, $2.95 million in Revenue and Refunding Bonds for the Claiborne Parish Law Enforcement District: for (1) not exceeding $1,750,000 Refunding Bonds, in one or more series, refunding Revenue Refunding Bonds Series 2013; (2) not exceeding $1,200,000 Revenue Bonds, in one or more series, acquisition and improvement of facilities, including acquisition of equipment.
  • Jefferson Parish, $2 million in Public Improvement Refunding Bonds for the city of Harahan: saving taxpayers $153,830.
  • Lafayette Parish, $10.5 million in Revenue Refunding Bonds for the Louisiana Community Development Authority’s Ragin’ Cajun Facilities, Inc. – University of Louisiana at Lafayette Cajundome Convention Center Project: saving $727,701.
  • Lincoln Parish, $41 million in Sales Tax Revenue Bonds for the city of Ruston: for (1) constructing, improving, maintaining and/or repairing public streets, related drainage and facilities for the provision of water and sewer services, (2) economic development and (3) acquiring, constructing, maintaining, operating and/or equipping a multi-sports recreation complex, an animal shelter and related property, facilities and utilities.
  • St. Bernard Parish, $4.2 million in Limited Tax Certificates of Indebtedness for the St. Bernard Parish Council: for maintaining and operating fire protection facilities.
  • St. Charles Parish, $10.8 million in General Obligation Refunding Bonds for Hospital Service District No. 1: saving taxpayers $1,163,961.
  • St. Charles Parish, $10 million in Limited Tax Refunding Bonds for the St. Charles Parish Law Enforcement District: saving taxpayers $374,772.
  • St. John the Baptist Parish, $2.2 million in Taxable Revenue Bonds for the Port of South Louisiana: for renovations and improvements to an existing building (known as the “Pepsi Building”) in Reserve, consisting of conversion of said building for use as a cold storage facility.
  • St. Martin Parish, $925,000 in Sales Tax Bonds for the town of Henderson: for constructing, acquiring and improving the sewer collection and disposal system.
  • St. Mary Parish, $2 million in Sewer Revenue Refunding Bonds for the Water and Sewer Commission No. 4: saving taxpayers $78,018.
  • St. Tammany Parish, $4.2 million in General Obligation Refunding Bonds for the city of Covington: saving taxpayers $364,094.
  • St. Tammany Parish, $11.5 million in General Obligation School Refunding Bonds for the School Board, Parish Wide School District No. 12: saving taxpayers $509,171.
  • St. Tammany Parish, $2.245 million in Water Revenue Bonds for Waterworks District No. 3: for (1) constructing and acquiring improvements and extensions and (2) funding a reserve fund, if necessary.
  • Statewide, $195 million in Assessment Revenue Refunding Bonds and $60 million in Taxable Assessment Revenue Refunding Bonds for the Louisiana Citizens Property Insurance Corporation: saving taxpayers $53.7 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