Panel also approved more than $3.7 million in interest savings

BATON ROUGE, LA – The State Bond Commission approved $544 million for projects statewide and approved more than $3.7 million in savings at its October 15 meeting, according to State Treasurer John Kennedy.

“These local projects are so important to communities across Louisiana,” said Treasurer Kennedy. “We approved financing for sewer improvements in Caddo Parish, a biorefinery plant in Iberville Parish and a better emergency room in Franklin Parish and a host of other projects.”

Among the individual projects approved were:

  • Acadia Parish, $300,000 in Limited Tax Bonds for the Police Jury: for constructing and acquiring a multipurpose facility, including equipment accessories and fixtures.
  • Ascension, Assumption, Terrebonne and Lafourche parishes, $30 million in Revenue Bonds for the Louisiana Community Development Authority’s Bayou Lafourche Fresh Water District Project: for (1) financing the acquisition, development, renovation, relocation, and construction of public infrastructure to accomplish the purposes the District was created and (2) funding capitalized interest and a debt service reserve fund, including the payment of a premium for a debt service reserve fund surety policy, if necessary.
  • Bossier Parish, $19 million in Sales Tax Refunding Bonds for the city of Bossier City: saving taxpayers $627,888.
  • Caddo Parish, $300,000 in Certificates of Indebtedness for Sewerage District No. 7: for acquiring and constructing improvements, including acquiring equipment and fixtures.
  • Caddo Parish, $42 million in Taxable Revenue Refunding Bonds for the city of Shreveport’s Shreveport Airport System: for (1) approximately $27,270,000, Series 2015A, defeasing and refunding LCDA Revenue Refunding Bonds (Shreveport Airport System Project) Series 2008A-AMT, LCDA Revenue Bonds (Shreveport Airport Cargo Facility Project) Series 2008C-AMT and LCDA Taxable Revenue Bonds (Shreveport Airport System Project) Series 2008D; (2) approximately $13,230,000, Series 2015B, defeasing and refunding LCDA Revenue Refunding Bonds (Shreveport Airport System Project) Series 2008B-AMT; (3) approximately $1,500,000, Series 2015C, reconfigure existing terminal, acquire jet bridges, make such other infrastructure repairs as may be necessary or required and (4)(a) purchasing a municipal bond insurance policy, if necessary, (b) funding a debt service reserve fund or reserve fund surety, if necessary and (c) funding a coverage reserve fund.
  • Franklin Parish, $3 million in Revenue Bonds for Hospital Service District No. 1: for acquiring, constructing and improving the hospital’s emergency room, including acquisition of equipment.
  • Iberville Parish, $60 million in Revenue Bonds for the Louisiana Community Development Authority’s NFR BioEnergy CT, LLC Project: for (1) development and construction of a biorefinery plant that will convert sugarcane waste and other agricultural waste into biocarbon products in White Castle, Iberville Parish, (2) paying capitalized interest and (3) funding a debt service reserve fund.
  • Jefferson Parish, $48 million in Revenue Refunding Bonds for the Louisiana Community Development Authority’s Jefferson Parish Projects: saving $2,285,961.
  • Orleans Parish, $100 million in Water Service Revenue Bonds for the city of New Orleans, Sewerage and Water Board of New Orleans: for (1) capital improvements and (2) funding a debt service fund and other reserve funds, if required.
  • Orleans Parish, $100 million Sewerage Service Revenue Bonds for the city of New Orleans, Sewerage and Water Board of New Orleans: for (1) capital improvements and (2) funding a debt service fund and other reserve funds, if required.
  • Orleans Parish, $7.5 million in Qualified Energy Conservation Bonds for the Louisiana Stadium and Exposition District: for constructing, acquiring and improving energy facilities as part of an energy retrofit project pursuant to the Energy Savings Performance Contract with Siemens Industry, Inc.
  • Rapides Parish, $18 million in Sales Tax Refunding Bonds for the city of Alexandria: saving taxpayers $557,717.
  • Webster Parish, $7.5 million in Sales Tax Refunding School Bonds for School Board, Sales Tax School District No. 6: saving taxpayers $248,162.

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