Baton Rouge: The State Bond Commission approved over $8 million in savings by refinancing existing public debt and $67 million for projects statewide at its May 17th meeting, according to State Treasurer John Kennedy.
"We saved the taxpayers millions by signing off on the refinancing of public debt for 11 local projects," said Treasurer Kennedy. "The Bond Commission gave approval for bonds to construct a new public library in Claiborne Parish as well as various infrastructure and capital improvement projects across the state."
Among the individual projects the Bond Commission approved are:
- Caddo Parish, Town of Oil City, $400,000 Certificate of Indebtedness: For additions and improvements to the waterworks system.
- Caddo Parish, Town of Blanchard, $3 million in Water Revenue Bonds: For improvements, extensions and replacements to the water system.
- Claiborne Parish, Claiborne Parish Police Jury, $2 million in Limited Tax Bonds: To construct a public library.
- East Baton Rouge Parish, Louisiana Real Estate Commission, $950,000 in Indebtedness: To refinance a loan incurred for an office building to serve as the Baton Rouge headquarters.
- Orleans Parish, Orleans Parish Law Enforcement District, $4.9 million in Revenue Anticipation Notes: For current expenses.
- St. Tammany Parish, Town of Abita Springs, $250,000 Certificate of Indebtedness: To install water meters and gas meters and related utilities system equipment.
- Terrebonne Parish, Consolidated Waterworks District No. 1, $17.3 million in Water Revenue Bonds and $4.2 million in Water Revenue Bonds (DHH): To extend and improve the water system and to provide a reserve.
- Vermilion Parish, Southeast Waterworks District No. 2, $1,637,000 in Water Revenue Bonds and $1,637,000 in Bond Anticipation Notes: For interim financing and improvements and extensions to the waterworks system.
- Vernon Parish, Vernon Parish Law Enforcement District, $1.5 million Promissory Note: For current operations.
The Commission also approved over $8 million in savings for local governments by refinancing existing debts. Among the refinancings approved were:
- Lafayette Parish, Lafayette Public Trust Financing Authority, South Louisiana Facilities Corporation Project, $569,000 in savings.
- Jefferson Parish, Louisiana Community Development Authority, Jefferson Facilities, Inc., Jefferson Parking Garage Project, $538,000 in savings.
- Lafourche Parish, Lafourche Parish Hospital Service District No.1, $181,000 in savings.
- Lincoln Parish, City of Ruston, $791,000 in savings.
- Livingston Parish, Sewerage District No. 2, $45,000 in savings.
- Orleans Parish, City of New Orleans, Downtown Development District, $538,000 in savings.
- Pointe Coupee Parish, Pointe Coupee Parish School Board, School District No. 10, $77,540 in savings.
- St. Tammany Parish, City of Slidell, $225,000 in savings.
- St. Tammany Parish, Louisiana Offshore Terminal Authority, LOOP LLC Project, $3,724,000 in savings.
- Terrebonne Parish, Consolidated Waterworks District No. 1, $1,038,000 in savings.
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.