Bond Commission Approves $538 Million in Funding for Projects Statewide

BATON ROUGE, LA -- At the January 19 meeting of the State Bond Commission, $538 million was approved for projects statewide, according to State Treasurer John Kennedy.

“We approved a variety of loans and bond issues for local governments statewide and also discussed options for the Legislature to consider regarding the Gulf Opportunity Zone Act,” said Treasurer Kennedy. “There are several bonding provisions in the new law that could help local governments and businesses including Gulf Tax Credit Bonds, tax-exempt private activity bonds, and an additional advance refunding authority for the state and local governments. In order for the Bond Commission to move forward, however, we must receive legislative approval during the upcoming Special Session.”

The Bond Commission approved the following:
 

Central and North Louisiana

- A $1 million loan for the town of Jonesville in Catahoula Parish for an electrical power purchase contract with the Louisiana Energy and Power Authority.
- A $500,000 budgetary loan for the Concordia Parish Hospital District to pay for operating expenses.
- $5 million in bonds for the Concordia Parish Police Jury for construction and improvements to public roads.
- $200 million in bonds (preliminary approval) for the Rapides Finance Authority to acquire, construct and install waste disposal and recycling facilities at the Cleco solid fuel power plant to be located in Boyce.
- A $70,000 loan for the Fire Protection District in DeSoto Parish for fire protection equipment.
- $590,000 in bonds for the Waterworks District No. 7 in Caddo Parish to refinance debt, saving taxpayers $206,740.

Baton Rouge Area
- A $200,000 loan for the St. Helena Parish Police Jury to pay the costs of building, resurfacing and repairing public roads, highways and bridges.
- A $900,000 loan for the town of Franklinton in Washington Parish for sewerage system improvements and equipment.
- $500,000 in bonds for the West Baton Rouge Parish Council for a new roof and related improvements for the West Baton Rouge Parish Tourist Information Center and Meeting Facility.

New Orleans Area

- A $100 million loan for the New Orleans Aviation Board to provide working capital for operations of the Louis Armstrong New Orleans International Airport, to pay debt service, and to provide a reserve fund if necessary.
- A $5 million loan for the Hospital Service District No. 1 in St. Charles Parish to pay expenses. The approval is contingent upon the new certificate of indebtedness not being issued until a 2005(A) and 2005(B) certificate is repaid.
- A $10 million loan for the St. Tammany Parish Council to pay for operations, debris removal, and to repair and renovate public facilities.
- A $2.9 million revenue anticipation note (community disaster loan program) for the Jefferson Parish Judicial Enforcement District. The approval is contingent upon an Attorney General’s Opinion that the issuer has the statutory authority to borrow funds.
- A $150,000 revenue anticipation note (community disaster loan program) for the Fire Protection District No. 2 in St. Tammany Parish to pay current operations. The community disaster loan approval is contingent on approval from FEMA.
- A $10 million revenue anticipation note (community disaster loan program) for the Orleans Levee District in Orleans Parish to pay operating expenses. The approval is contingent upon approval from FEMA.
- $2.5 million in bonds for the city of Westwego in Jefferson Parish for sewerage system improvements and extensions.
- $30 million in bonds for the Jefferson Parish Finance Authority to provide funds to finance the purchase of certain qualifying mortgage loans under the single-family mortgage loan program.
- $100 million in bonds for the Finance Authority of New Orleans to purchase mortgage loans, home improvement loans and rehabilitation loans.
- $22.5 million in revenue bonds for the Louisiana Public Facilities Authority to acquire the Guest House of Slidell, Greenbriar Nursing and Convalescent Center and Riverlands Health Care Center.
- $15 million in bonds (preliminary approval) for the Hammond-Tangipahoa Home Mortgage Authority to authorize the development of the 2006 Program for the origination of mortgage loans.
- A $500,000 revenue anticipation note (community disaster loan program) for the town of Jean Lafitte in Jefferson Parish. The approval is contingent upon approval from FEMA.
 

Lafayette and Lake Charles Area

- A $175,000 loan for the Consolidated Gravity Drainage District No. 1 in Acadia Parish to purchase equipment.
- A $2 million loan for the Lafayette Parish School Board for school related improvements, furnishings and equipment.
- A $1.5 million loan for St. Mary Parish’s Hospital Service District No. 1 to pay current expenses. The approval is contingent upon a new certificate not being issued until a 2005 certificate is repaid.
- A $1.25 million loan for the town of Berwick in St. Mary Parish to improve streets.
- $1.5 million in bonds for the town of Youngsville in Lafayette Parish to make waterworks system improvements and to acquire a maintenance building.
- $8.27 million in bonds for the St. Martin Parish School District to refinance debt, saving taxpayers $343,388.
- $3.3 million in revenue anticipation notes (community disaster loan program) for the Calcasieu Parish Law Enforcement District to pay for current operations. The approval is contingent on approval from FEMA.
- $5 million in bonds (preliminary approval) for the town of Kinder in Allen Parish for sewerage system improvements and equipment.

Statewide Bond Commission approvals include a $7.3 million note for the Louisiana Department of Health and Hospitals to obtain capitalization grants from the U.S. Environmental Protection Agency for the drinking water revolving loan fund.

                                                                                                       ###