State Treasurer John Kennedy Announces Statewide Bond Commission ApprovalsBATON ROUGE, LA -- State Treasurer John Kennedy announced today that Louisiana will benefit from $1.2 billion in funding approved at the March 15 meeting of the State Bond Commission.
“We approved a variety of infrastructure improvements statewide ranging from new classroom facilities to road and water system upgrades," said Treasurer Kennedy. "In addition, local governments continue to take advantage of federal hurricane-related financing to rebuild housing, restructure debt and start new businesses in areas that were damaged by Katrina and Rita."
The Bond Commission approved: Central and North Louisiana ($34.4 million) - A $98,721 loan for the Eden Fellowship Fire District, LaSalle Parish for purchasing a tanker truck. - A $500,000 loan for the LaSalle Parish Hospital Service District No. 1 to pay current expenses. - A $2.5 million loan for the Rapides Parish Police Jury for acquiring, constructing and/or improving public libraries. - A $100,000 loan for the Franklin Parish Fire Protection District No. 2 to provide funds for the purchase of a fire truck and equipment. - $260,000 in bonds for the Village of Delta, Madison Parish for constructing and acquiring improvements and replacements to the village’s sewerage system. - $2.5 million in bonds for the Town of Rayville in Richland Parish for constructing and acquiring improvements, extensions and replacements to the town’s water system. - $950,000 in bonds for the Village of Forest, West Carroll Parish for the purpose of constructing and acquiring improvements, extensions and replacements to the village’s waterworks system. - $10 million in bonds (preliminary approval) for the Natchitoches Parish Hospital Service District to finance the acquisition, construction and installation of nursing home and assisted living facilities at the Natchitoches Regional Medical Center, and funding a reserve fund if necessary.
- $17.5 million in bonds for the Louisiana Public
Facilities Authority (SUSLA Facilities, Inc. Project) for the acquisition,
construction, reconstruction, renovation, furnishing and equipping of
dormitories of Southern University at Shreveport and related parking facilities. - A $150,000 loan for the St. Helena Parish Police Jury, Road District No. 3 to pay the costs of building, resurfacing and keeping public roads, highways and bridges in repair. - A $140,000 loan for the Tangipahoa Parish Council, Rural Fire Protection District No. 2 for the purpose of purchasing a fire truck and other fire fighting equipment. - A $1.5 million loan for the City of Bogalusa, Washington Parish to pay current expenses. - $4 million in Gulf Opportunity Zone (GO Zone) bonds for the Tangipahoa Economic Development District (Daniel H. Aycock & Henry “Hank” Powell Project) to finance the acquisition, construction and equipping of an 80-room extended stay hotel and related facilities in Tangipahoa Parish. - $1.75 million in bonds (preliminary approval) for the Waterworks District No. 3, Iberville Parish to pay a portion of the costs of acquiring and constructing improvements and extensions to the district’s waterworks system. - $4.63 million in bonds (preliminary approval) for the Village of Albany, Livingston Parish for constructing and acquiring improvements and extensions to the waterworks system of the Village, including equipment, accessories and properties. - $2.485 million in bonds for the Isabella Lakes Community Development District, Livingston Parish to pay all or a portion of the costs of financing surface water management and control systems; water distribution and transmission facilities and wastewater collection and transmission facilities; roadwork; and funding a reserve if required. - $1.268 million in bonds for the Sewerage District No. 4, Pointe Coupee Parish for financing a portion of the cost of constructing and acquiring a sewerage collection and treatment plant and system improvements for the District. - $7 million in bonds for the Tangipahoa Parish Water District for constructing and acquiring waterworks system improvements and extensions. - $4.4 million in bonds for the School Road Community Development District, Tangipahoa Parish to pay all or a portion of the costs of financing surface water management and control systems; water distribution and transmission and wastewater collection and transmission facilities; roadwork; and funding a reserve if required. - $8 million in GO Zone bonds (preliminary approval) for the LPFA (Republic Finance Project) for acquiring, constructing, reconstructing, renovating, furnishing and developing a commercial office building in Baton Rouge. - $15 million in GO Zone bonds for the Denham Springs/Livingston Housing & Mortgage Finance Authority to finance single family residential property for low- and moderate-income families.
- $1.15 million in bonds for the Louisiana Community
Development Authority (Central Community School District Project) to provide
working capital for operating expenses, payroll and deficit financing. The
approval is contingent upon the passage of a 2 percent sales tax. - A $250,000 loan for the Allen Parish Assessment District for current expenses. The approval is contingent upon the loan not being incurred until May 2007. - A $67,000 loan for the Allen Parish Police Jury, Road District No.1 for purchasing equipment for improving and maintaining parish roads within the district. - A $3.287 million loan for the Port of Iberia District to pay a portion of the cost of approximately 30 acres of site stabilization and security fencing at the port and approval of a cooperative endeavor agreement with the Department of Transportation and Development to provide grant revenues for the project. - $3.5 million in GO Zone bonds for the Hospital Service District No. 1, Jefferson Davis Parish to renovate a portion of the Jennings American Legion Hospital, Inc. to provide space to accommodate a Cardiology Department and Catherization Laboratory, and renovating the adjacent medical office building to provide administrative space. - $2 million in bonds for the Beauregard Parish School Board, Parishwide School District to refinance debt, saving taxpayers $577,105. - $10 million in bonds (preliminary approval) for the Calcasieu Parish Public Trust Authority (South Louisiana Facilities Corporation Sowela Technical Community College Classroom Project) to finance the construction of new classroom, office and other educational facilities at the Sowela Technical Community College campus in Lake Charles.
New Orleans Area ($1.1 billion) - A $5 million loan for the St. Bernard Parish Law Enforcement District for the purpose of paying operations. - $75 million in bonds for the Lakeshore Villages Master Community Development District, St. Tammany Parish for financing the reimbursement for certain infrastructure improvements within the district. - $16.5 million in bonds (preliminary approval) for the Industrial Development Board of the City of New Orleans (Peltier Gardens, LLC Project) for financing the cost of acquisition, construction and installation of a 400 unit multifamily housing facility in New Orleans. - $1.5 million in bonds (preliminary approval) for the Industrial Development Board of the City of New Orleans (Crescent Club New Orleans I, LLC Project) for the purpose of financing the acquisition, construction and installation of a 226 unit mixed-income multifamily housing, parking and retail facility in New Orleans. - $1.5 million in bonds (preliminary approval) for the Industrial Development Board of the City of New Orleans (The Preserve of New Orleans I, LLC Project) to finance the acquisition, construction and installation of a 183 unit mixed-income multifamily housing facility in New Orleans. - $500,000 in bonds (preliminary approval) for the Industrial Development Board of City of New Orleans (750 Jefferson Davis, LLC Project) to finance the acquisition, construction and installation of a 72 unit housing facility in New Orleans. - $350 million in refunding bonds ($50 million of which will be designated GO Zone bonds) for the LPFA (Tulane University of Louisiana Project) to restructure outstanding debt for continued operations. - $560 million in bonds ($45 million of which will be designated GO Zone bonds) for the LPFA (Ochsner Clinic Foundation Project) for financing the acquisition, construction and installation of hospital, medical and health care facilities, improvements and equipment and furnishings; to refinance debt to save roughly $21 million; and to set up a reserve fund. This is subject to Bond Commission staff approval of a final swap policy and hedge mechanism. - $65 million in GO Zone bonds (preliminary approval) for the Jefferson Parish Finance Authority for providing funds for the purchase of single family mortgage loans. - $25 million in GO Zone bonds for the LPFA (Air Products and Chemicals Project) for repairing, reconstructing, acquiring and improving the company's facilities in Orleans Parish and St. Bernard Parish. - $3.5 million in GO Zone bonds for the Louisiana Public Facilities Authority (LoConte Partners, LLC Project) for the construction and rehabilitation of properties in Orleans, Plaquemines and St. Bernard Parishes.
The Bond Commission also approved $6 million in bonds for the Louisiana Agricultural Finance Authority for regional offices, emergency response equipment and forestry fire fighting equipment statewide. ### |
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