Panel also approved more than $22 million in savings

BATON ROUGE, LA – The State Bond Commission approved $439 million for projects statewide and saved taxpayers more than $22 million at its November 20 meeting, according to State Treasurer John Kennedy.

“We continue to find interest savings for taxpayers. This month, we saved taxpayers more than $22 million,” said Treasurer Kennedy. “We also approved borrowing that will expand a hospital campus, build a police station and improve a courthouse .”

Among the individual projects approved were:

  • Beauregard Parish, $2 million in Limited Tax Bonds for the Beauregard Parish Police Jury: for constructing, expanding, improving and renovating the Beauregard Parish Courthouse.
  • Caddo Parish, $17 million in General Obligation School Refunding Bonds for the Caddo Parish School Board: saving taxpayers $924,470.
  • Claiborne Parish, $500,000 in Hospital Revenue Bonds, Series 2014, for the town of Homer: for renovations and improvements, including 10 new patient rooms for a geriatric psychiatric unit on the campus of Claiborne Memorial Medical Center.
  • East Baton Rouge Parish, $380 million in Revenue Refunding Bonds for the East Baton Rouge Sewerage Commission: saving taxpayers $20,120,020.
  • Franklin Parish, $4 million in Limited Tax Revenue Bonds, Series 2014, for Hospital Service District No. 1: for acquiring, constructing and improving public improvements, including acquisition of equipment.
  • Morehouse Parish, $1.7 million in Taxable Sewer Revenue Bonds for the city of Bastrop: for installing an M2 Renewables MicroScreen system and rehabilitating two existing lift stations.
  • Rapides Parish, $550,000 in Limited Tax Certificates of Indebtedness: for improving and maintaining recreational facilities.
  • Tangipahoa Parish, $150,000 in Limited Tax Bonds for the town of Independence: for paying a portion of constructing a police station, including acquiring and installing equipment, furniture and fixtures.
  • Tangipahoa Parish, $5 million in Water Revenue Bonds for the Tangipahoa Parish Water District: for (1) constructing and acquiring improvements and extensions to the waterworks system and (2) funding a reserve fund or purchasing a reserve fund surety, if required.
  • Calcasieu Parish, $24 million in Revenue Refunding Bonds for the Louisiana Community Development Authority’s city of Lake Charles project: saving taxpayers $1,259,651.
  • East Baton Rouge Parish, $3.8 million in Lease Revenue Bonds: for (1) designing, acquiring, rehabilitating, constructing and equipping an approximately 34,000 square foot-facility in Baton Rouge to house the headquarters of the Prison Enterprises division of the Department of Public Safety and Corrections, (2) funding a debt service reserve fund, if necessary, (3) paying capitalized interest, if necessary, and (4) paying costs of issuance.

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