Bond Commission Approves $144 Million in Funding for Projects Statewide

BATON ROUGE, LA -- The State Bond Commission held its monthly meeting on February 16 and approved $144 million in projects statewide, according to State Treasurer John Kennedy.  The commission also discussed procedures for businesses to follow that want to access $7.9 billion in tax-exempt private activity bonds available through the federal Gulf Opportunity Zone Act.

“The tax-exempt financing provision of the new federal law provides the capital that our businesses desperately need and is an extraordinarily important financial option for rebuilding,” said Treasurer Kennedy. “We worked very hard in order for small businesses to be able to take advantage of this financing, especially those that were viable before the storms but now may be less creditworthy because of the hurricanes. Credit difficulties should not get in the way of small businesses that can survive if they receive access to this financing.”
 

The Bond Commission approved the following:
 

Central and North Louisiana

- A $750,000 loan for the Hospital Service District No. 1 in Avoyelles Parish to pay current expenses.
- A $1.7 million loan for the Hospital Service District No. 1 in LaSalle Parish to finance an energy performance contract with Siemens Building Technologies, Inc.

- A $3.5 million loan for the Bossier Parish School Board to renovate, repair and equip public schools.
- A $50,000 loan for the West Carroll Parish Law Enforcement District to construct a jail visitation room and GED training classroom.
- $28 million in bonds for Bossier City to refinance outstanding debt, saving taxpayers $1.3 million.
- $23 million in bonds for the city of Shreveport to refinance outstanding airport system revenue bonds, saving $2.1 million.

Baton Rouge Area
- A $175,000 revenue anticipation note (community disaster loan program) for the town of Clinton in East Feliciana Parish to pay for current operations.   The approval is subject to staff and FEMA approval.
- $191,000 in bonds for the village of Albany in Livingston Parish for waterworks system improvements and extensions.
- A $2 million revenue anticipation note (community disaster loan program) for the Washington Parish School Board to provide essential services and pay for current operations.   The approval is subject to staff and FEMA approval.

New Orleans Area

- A $500,000 loan for the Hospital Service District No. 1 in Lafourche Parish to help the Lady of the Sea General Hospital pay for current operations. 
- A $6.2 million loan for the Plaquemines Parish Law Enforcement District to refinance debt to provide debt service and cash flow relief while a correctional center is rebuilt.
- A $900,000 loan for the St. John the Baptist Parish Council to help fund current operations.
- A $760,000 loan for the Fire Protection District No. 12 in St. Tammany Parish to refinance debt for budgetary and cash flow relief to rebuild hurricane-damaged facilities and purchase equipment.
- $340,000 in bonds for the village of Napoleonville in Assumption Parish for sewerage system improvements.
- A $12 million commercial line of credit for the Port of New Orleans to finance the cost of operations, expenses and making debt service payments related to Hurricane Katrina.

Lafayette and Lake Charles Area

- A $65,000 loan for the Allen Parish Police Jury to purchase equipment.
- A $650,000 loan for the Cameron Parish Mosquito Abatement District No. 1 to purchase equipment.
- $1.98 million in bonds for Calcasieu Parish for waterworks system additions and improvements.
- $500,000 in bonds for the city of Jennings in Jefferson Davis Parish for an addition to the Carnegie Library.
- $10 million in bonds (preliminary approval) for the Calcasieu Parish Public Trust Authority to assist low- to moderate-income homebuyers in Calcasieu, Cameron, Beauregard, Allen and Jefferson Davis Parishes.
- A $700,000 loan for the Evangeline Parish Solid Waste Commission to pay the costs of cleanup of debris from Hurricane Rita.
- A $1.6 million loan for the St. Landry Parish Communications District to pay for a new 911 building and equipment.
- $48.5 million in bonds for the city of Lafayette to refinance debt, saving taxpayers $1.8 million.

For more information, or to download a copy of this month’s Bond Commission agenda, visit www.latreasury.com.

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