BATON ROUGE, LA – The State Bond Commission approved $1.1 billion for projects statewide and more than $400 million in total savings at its November 16 meeting, according to State Treasurer Ron Henson.

“The commission signed off on the second refinancing of Gulf Opportunity Zone bonds that were issued following Hurricanes Katrina and Rita,” said Treasurer Henson. “Marathon Oil was just one of the industries that issued these bonds after the storms to invest in our state, and we appreciate their investment.”

Among the individual projects approved were:

Calcasieu Parish: $7 million in Certificates of Indebtedness for the Chennault International Airport Authority for the acquisition, relocation and redevelopment of the Mallard Cove Municipal Golf Course.

Evangeline Parish: $5 million in Utilities Revenue Bonds for the City of Ville Platte (LDH Program) for acquiring and constructing waterworks system additions, extensions and improvements.

Lafayette Parish: $3.5 million in Sales Tax Bonds for the City of Youngsville for constructing and improving public streets, roads, alleys and sidewalks including drainage facilities.

Natchitoches Parish: $14 million in Sales Tax Bonds for the City of Natchitoches for constructing, acquiring and improving recreation facilities.

Orleans Parish: $100 million in Port Facility Revenue and Refunding Revenue bonds for the Port of New Orleans to refinance debt and make port facility improvements, resulting in $3.7 million in gross savings.

St. John the Baptist Parish: $1 billion in Revenue Refunding Bonds (GO Zone) for the Marathon Oil Corporation Project to refinance debt, resulting in $400 million in gross savings.

St. John the Baptist Parish: $6 million in Taxable Sales Tax Bonds for the Sales Tax District (DEQ Project) to retrofit meters.

Tangipahoa Parish: $15 million in Revenue Bonds for the City of Hammond for constructing, acquiring, improving and maintaining works of public improvement including drainage facilities, recreational facilities, public buildings and sewer system works.

Vermilion Parish: $800,000 in Taxable Water Revenue Bonds for the Southeast Waterworks District No. 2 (LDH Program) for constructing and acquiring improvements and replacements to the drinking water system including equipment and fixtures.

The Bond Commission also approved the final resolution to issue $224.4 million in Gasoline and Fuels Tax Second Lien Revenue Refunding Bonds.

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