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Louisiana State Bond Commission Approves Over $202 Million for Local Projects and Over $274 Million in Savings

For Release On:

March 25, 2013

Baton Rouge: The State Bond Commission approved over $202 million for projects statewide and over $274 million in savings by refinancing existing public debt at its March 21 meeting, according to State Treasurer John Kennedy. 

“We signed off on a number of approvals today ranging from large bond sales to smaller issuances,” said Treasurer Kennedy. “Some of the projects may not have had the largest price tags, but they will still provide lasting benefits for taxpayers. They include bonds to finance improvements along I-49 South in Carencro and funds for a memorial park and museum to honor veterans in Terrebonne Parish.” 

Among the individual projects approved are:

  • Allen Parish, Allen Parish Law Enforcement District, $5.5 million in Revenue Bonds: For public improvements.
  • Assumption Parish, Waterworks District No. 1, $5.75 million in Revenue Bonds: For waterworks system extensions and improvements.
  • Calcasieu Parish, Vinton Harbor and Terminal District, $1.25 million in Revenue Bonds: For improving docks, roads, streets, bulkheads and water production facilities along the Gulf Intracoastal Waterway.
  • East Feliciana Parish, East Feliciana Parish School Board, $750,000 in Limited Tax Revenue Bonds: For the construction, rehabilitation or repair of public school facilities including equipment.
  • Evangeline Parish, Lone Pine Fire Protection District, $60,000 in Certificates of Indebtedness: For maintaining, renovating and improving public improvements.
  • Jefferson Davis Parish, City of Jennings, $7 million in Public Improvement Sales Tax Revenue Bonds: For capital improvements to public buildings.
  • Lafayette Parish, City of Carencro, I-49 Corridor Economic Development District, $1.5 million in Sales Tax Bonds: For roads, streets and other capital improvements.
  • Lafayette Parish, City of Lafayette, $15.69 million in Public Improvement Sales Tax Revenue Bonds: For street, sidewalk and bridge improvements; street lighting facilities; drainage canal and drain improvements; police stations and equipment; recreational facility improvements; and sanitation equipment and facilities.
  • LaSalle Parish, Town of Olla, $400,000 in Public Improvement Bonds: For building and parking lot improvements for use as a shelter and emergency staging facility for the State.
  • Louisiana Energy and Power Authority, $40 million in Revenue Bonds: For construction and renovations to Rodemacher Unit No. 2.
  • Louisiana State University and Agricultural and Mechanical College (Board of Supervisors), $120 million in Auxiliary Revenue Bonds: For construction and improvements to the University Recreation Center, a new residence hall, and renovations to Evangeline Residence Hall.
  • Morehouse Parish, Morehouse Parish School Board, Consolidated School District No. 12, $340,000 in Limited Tax Bonds: For public elementary and secondary school improvements and equipment.
  • Pointe Coupee Parish, Fire Protection District No. 1, $1,1 million in Certificates of Indebtedness: To purchase new equipment and pay off a lease purchase agreement.
  • Pointe Coupee Parish, Fire Protection District No. 3, $800,000 in Certificates of Indebtedness: For the construction of a new fire station.
  • Tangipahoa Parish, Tangipahoa Parish Council, $2.4 million in Revenue Bonds: For parish landfill improvements.
  • Terrebonne Parish, Terrebonne Parish Veterans Memorial District, $350,000 in Limited Tax Bonds: For the construction and furnishing of a regional military museum and Veterans Memorial Park on Louisiana Highway 311. 

Likewise, the Commission approved over $274 million in savings for local governments by refinancing existing debt. Among the refinancings were:

  • Caddo Parish, Caddo Parish School Board, Parishwide School District, $17.5 million in General Obligation School Refunding Bonds: $690,000 in savings.
  • Claiborne Parish, Claiborne Parish Law Enforcement District, $3.75 million in Taxable Revenue Refunding Bonds: $153,000 in savings.
  • Iberia Parish, City of New Iberia, $3.6 million in General Obligation Refunding Bonds: $375,000 in savings.
  • Iberia Parish, Iberia Parish Council, $13 million in Hospital Revenue and Refunding Bonds: $300,000 in savings.
  • Jefferson Parish, Jefferson Parish Council Sales Tax District, $46 million in Special Sales Tax Revenue Refunding Bonds: $1.423 million in savings.
  • Lafayette Parish, City of Lafayette, $55 million in Public Improvement Sales Tax Refunding Bonds: $2.473 million in savings.
  • Lafayette Parish, City of Lafayette, $19.8 million in Public Improvement Sales Tax Refunding Bonds: $903,000 in savings.
  • LaSalle Parish, LaSalle Parish Hospital Service District No. 2, $2.136 million in Taxable Hospital Revenue Refunding Bonds: $433,000 in savings.
  • Livingston Parish, Livingston Parish School Board, School District No. 4, $9.75 million in General Obligation Refunding Bonds: $670,000 in savings.
  • Louisiana Community Development Authority (Louisiana Tech University Student Housing/Innovative Student Facilities Inc. Project), $20 million in Revenue Refunding Bonds: $1.905 million in savings.
  • Louisiana Community Development Authority (West Jefferson Park and Community Center and Playground District, Parc de Families Project), $8.5 million in Revenue Refunding Bonds: $350,000 in savings.
  • Louisiana Housing Corporation, $20 million in Single Family Mortgage Revenue Refunding Bonds: $4.224 million in savings,
  • St. Mary Parish, Wax Lake East Drainage District, $2.7 million in General Obligation Refunding Bonds: $312,000 in savings.
  • St. Tammany Parish, St. Tammany Parish Council, Sales Tax District No. 3, $44.35 million in Sales Tax Refunding Bonds: $1.276 million in savings.
  • Webster Parish, Webster Parish School Board, Springhill School District No. 8, $8.5 million in General Obligation Refunding Bonds: $789,000 in savings.


Additional Contact Information:


Contact Name Contact Phone  
Sarah Mulhearn (225) 342-0012  
 
Office of the Treasury http://www.treasury.state.la.us/Lists/Si teArticlesByCat/DispForm_Single.aspx?Lis t=c023d63e%2Dac65%2D439d%2Daf97%2Dda71d8 688dff&ID=736&Source=http%3A%2F% 2Fwww%2Etreasury%2Estate%2Ela%2Eus%2FHom e%2520Pa

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