State Bond Commission Approves $486 Million for Local Projects

News
State of Louisiana_960208423783974796

Press Release — BATON ROUGE, LA – The State Bond Commission approved $486 million for projects statewide and saved taxpayers more than $29 million at its March 19 meeting, according to State Treasurer John Kennedy.

“The state may be spending more than it takes in, but the State Bond Commission is saving money for taxpayers through lower interest rates,” said Treasurer Kennedy. “We were able to achieve more than $29 million in savings this month. Our work directly benefits the public.”

Among the individual projects approved were:

Beauregard Parish, $7.6 million in General Obligation School Refunding Bonds for the Beauregard Parish School Board, Parishwide School District: saving taxpayers $207,000.

Bossier Parish, $12 million in General Obligation School Refunding Bonds for the Bossier Parish School Board, Parishwide School District: saving taxpayers $568,000.

Bossier Parish, $20 million in Revenue Bonds for the Louisiana Community Development Authority’s City of Bossier City, Louisiana Project: for additions, acquisition, repairs and/or expansions needed to maintain works of public improvement.

Bossier Parish, $11.75 million in Revenue Refunding Bonds for the Louisiana Community Development Authority’s Bossier Parish Public Improvement Project: saving taxpayers $521,000.

Caddo Parish, $3.5 million in Water Revenue Refunding Bonds for the town of Blanchard: saving taxpayers $255,000.

East Baton Rouge Parish, $75 million in Road and Street Improvement Sales Tax Revenue Refunding Bonds for the Metropolitan Council of the Parish of East Baton Rouge and City of Baton Rouge: saving taxpayers $4 million.

East Baton Rouge Parish, $26 million in General Obligation School Refunding Bonds for the Zachary Community School Board, Zachary Community School District No. 1: saving taxpayers $1.7 million.

East Baton Rouge Parish, $155 million in Revenue Refunding Bonds for the Board of Supervisors of Louisiana State University and Agricultural and Mechanical College: saving taxpayers $7 million.

East Baton Rouge Parish, $40 million in Subordinate Lien Revenue Bonds for the Louisiana Community Development Authority’s Parish of East Baton Rouge Road Improvement Project: for constructing new public roads and streets and/or the widening of existing public roads and streets.

East Baton Rouge Parish, $15 million in Revenue Bonds for the Louisiana Community Development Authority’s Perkins Road Memory Care, LLC Project: for (1) acquisition, design, construction, furnishing and equipping of an approximately 33,000 square foot memory care facility in East Baton Rouge Parish and (2) funding a reserve fund, if necessary.

Jefferson Parish, $52 million in Sales Tax Refunding Bonds for the Jefferson Parish School Board: saving taxpayers $2.5 million.

Jefferson Parish, $17 million in Multifamily Housing Revenue Bonds for the Louisiana Community Development Authority’s GMF- Bellemont Apartment Homes Project: for acquiring, rehabilitating and equipping a 291 unit multifamily housing complex located in Metairie, Jefferson Parish.

Orleans Parish, $50 million in Hospital Revenue Refunding Bonds for the Louisiana Public Facilities Authority’s Touro Infirmary Project: saving taxpayers $11.76 million.

Ouachita Parish, $450,000 in Water Revenue Bonds for the Prairie Road Water District: for constructing and acquiring improvements and extensions to the waterworks system, including equipment and fixtures.

Pointe Coupee Parish, $300,000 in Limited Tax Certificates of Indebtedness for the Pointe Coupee Parish Police Jury: for constructing and improving gas facilities.

Richland Parish, $875,000 in Sewer Revenue Bonds for the town of Delhi: for constructing and acquiring improvements and replacements to the sewerage system, including appurtenant equipment and accessories, a work of public improvement.

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.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Don't Miss

Don't Miss

Trending Stories