State Treasurer John Kennedy Announces Statewide Bond Commission Approvals

BATON ROUGE, LA -- The State Bond Commission met May 17 and approved funding for a variety of projects statewide, according to State Treasurer John Kennedy.

“Infrastructure improvements statewide will be made possible because of this funding,” said Treasurer Kennedy.  "In addition, we helped local governments around the state restructure and refinance debt to free up cash flow and save taxpayers more than $1.7 million."

The Bond Commission approved:

Central and North Louisiana

- A $150,000 loan for the Caldwell Parish Assessment District to pay current expenses.
- A $325,000 loan for the Tensas Parish Law Enforcement District for current expenses.
- $517,000 in bonds (preliminary approval) for Richland Parish, Town of Mangham for the purpose of constructing and acquiring improvements, extensions and replacements to the town’s water system including equipment accessories and properties.
- $1.5 million in bonds for Bossier and Caddo Parishes, Shreveport-Bossier Convention and Tourist Bureau for constructing, acquiring and/or improving facilities including the acquisition of necessary equipment and furnishings.
- $1.2 million in bonds for Catahoula Parish, Town of Jonesville to restructure debt and to make approximately $200,000 in additional repairs and improvements to utility operations including the provision of electricity, water and sewerage services to citizens, and funding a debt service reserve fund.
- $6.49 million in bonds for DeSoto Parish, Waterworks District No. 1 to refinance debt, saving taxpayers $159,308.
- $5.7 million in bonds for Madison Parish, City of Tallulah to refinance debt to provide cash flow relief.
- $30 million in bonds for Ouachita Parish, City of Monroe to refinance debt, saving taxpayers $1.6 million.  The approval is contingent upon the adoption of a formal swap policy.
- $2 million in bonds for the Louisiana Housing Finance Agency (Pine Terrace Apartments Project) for the purpose of paying for the acquisition, construction and equipping of the Pine Terrace Apartments located in the City of Grayson, Caldwell Parish and funding reserve accounts that may be required.
- $20 million in bonds for the Louisiana Community Development Authority (Northwestern State University Student Housing/NSU Facilities Corporation Project) to finance the second phase of design, construction and equipping of new student housing and related facilities at the University.

Baton Rouge Area      

- A $250,000 loan for Livingston Parish, Fire Protection District No. 5 to purchase a 1996 HME 1871 75 aerial ladder truck.
- $1.95 million in bonds for the Tangipahoa Parish Road Lighting District No. 7 to acquire, improve and equip the system of road lighting on the streets, roads, highways, alleys and public places of the District.
- $12 million in bonds for the Louisiana Housing Finance Agency (Autum Chase Apartments Project) for the acquisition and substantial rehabilitation of a 207 unit apartment development serving low to moderate income families in Baton Rouge.

- $9.25 million in bonds for the Louisiana Housing Finance Authority (Spanish Arms Apartments Project) for the acquisition, rehabilitation and equipping of a multifamily housing facility.
- $11 million in bonds for the Louisiana Community Development Authority (Ascension Parish Jail Project) for funding the construction and equipping of an expansion to the existing jail facility in the Parish and financing certain sewerage and drainage improvements to the existing jail facility in the Parish.

- $200 million in Gulf Opportunity Zone bonds (preliminary approval) for the Louisiana Public Facilities Authority (Air Products and Chemicals Project) for financing the acquisition, construction and installation of a 120 MMSCFD reformer using methane to produce hydrogen and steam for supply to the Marathon Petroleum Company refinery in the Town of Garyville, and hydrogen for supply into the Company’s pipeline system.
- $6 million in GO Zone bonds (preliminary approval) for the Louisiana Public Facilities Authority (Sabel Steel Project) for financing the construction and equipping of a 78,500 square foot steel service center, warehouse and office, which is located on a 13 acre site on the west side of Flannery Road in East Baton Rouge Parish.
- $8 million in GO Zone bonds for the Louisiana Public Facilities Authority (Republic Finance Project) for acquiring, constructing, renovating, furnishing and developing a commercial office building in Baton Rouge and funding a debt service reserve fund.
- $8 million in bonds for the Louisiana Public Facilities Authority (Eden Point Project) for financing the acquisition, construction, renovation, furnishing, equipping and developing of a 186 unit multi-family facility located at 11528 Old Hammond Highway in Baton Rouge and funding a debt service reserve fund for the proposed bonds.
- $70 million in bonds for the Louisiana Public Facilities Authority (Department of Public Safety Project) to refinance debt.
- $25 million in bonds (preliminary approval) for the Louisiana Agricultural Finance Authority (Louisiana Family Farms, LLC Project) for the purpose of providing funds to construct and equip a milk processing plant to be located in Tangipahoa Parish.
 

Southwest Louisiana      

- A $653,688 loan for Iberia Parish, Port of Iberia District to pay 95 percent of the portion of the cost of bulk heading Lot 10 at the Port and approval of a cooperative endeavor agreement with the Department of Transportation and Development so as to provide grant revenues for the project.
- $9 million in bonds for the St. Landry Parish School Board for the renovation, repairing, equipping and rehabilitation of certain public schools.
- A $2 million loan for Vermilion Parish, Hospital Service District No. 2 for paying current expenses.
- $1.5 million in bonds for St. Landry Parish, City of Opelousas to make repairs and improvements to the issuer's waterworks system, including the relocation of water lines and related infrastructure improvements and for funding a debt service reserve fund.
- $4 million in bonds for the Vermilion Parish Police Jury for constructing, improving and resurfacing Parish roads, including incidental drainage.

- $7.02 million in bonds for the Louisiana Housing Finance Authority (Bacmonila Garden Apartments Project) for the acquisition, rehabilitation and equipping of a multifamily housing facility.
- $1 billion in GO Zone bonds for the Lake Charles Harbor and Terminal District (Lake Charles Cogeneration, LLC) for developing, acquiring, constructing, installing and equipping a petroleum coke fueled poly-generation gasification facility; funding a reserve fund; capitalizing a portion of the interest; and  paying all or a potion of the necessary costs in connection with the issuance of the bonds.
- $3 million in GO Zone bonds for the Louisiana Community Development Authority (Port Aggregates, Inc. Project) for providing funds for the acquisition and construction of concrete production and distribution facilities, including all fixtures to be located in Scott.
- $10.5 million in GO Zone bonds for the Louisiana Community Development Authority (Gulf Coast Hotel Group, L.L.C. Project) for providing funds for the acquisition and construction of a 97-room Holiday Inn Hotel and Suites, including all fixtures or necessary equipment to be located on Arena Road in the City of Sulphur.
- $10 million in GO Zone bonds (preliminary approval) for the St. Martin Parish Industrial Development Board (Offshore Warriors, Inc. Project) for financing the acquisition, renovation, improvement, and construction of the 900,000 square foot industrial plant and 65 acre site known as Martin Mills from LL St. Martin, LLC.
- $30 million in GO Zone bonds (preliminary approval) for the Lafayette Public Trust Financing Authority for the purpose of providing funds for the purchase of single family mortgage loans.
- $1.3 million in GO Zone bonds for the Calcasieu Parish Public Trust Authority (JEMCON Investments, LLC Project) for the acquisition and construction of a commercial building and infrastructure improvements to accommodate a manufactured home and RV dealership, including all fixtures incidental or necessary in connection therewith.
- $12.5 million in bonds (preliminary approval) for the Lafayette Public Trust Financing Authority (Ragin Cajuns Facilities, Inc. Project) for the planning, construction and equipping of the Ragin Cajun Facilities, Inc., a Louisiana non-profit corporation, of an approximately 162 bed student apartment complex to be located on E. Lewis Street owned by the University of Lafayette at Louisiana.
 

New Orleans Area
- A $900,000 loan for the St. John the Baptist Parish Council for current operations.
- A $100,000 loan for St. Tammany Parish, Fire Protection District No.11 for acquiring fire protection equipment.
- A $400,000 loan for the Terrebonne Parish Coteau Fire District for acquiring and equipping of a fire station.
- $75 million in GO Zone bonds (preliminary approval) for the St. Charles Parish Council (SilvaGas Taft Project) for financing the acquisition, construction and start-up testing of a 10,200 MMBtu per day biomass gasification facility.
- $100 million in GO Zone bonds for the St. Charles Parish Council (REG Destrehan, LLC Project) for the acquisition, development and construction of a dual-grade bio-diesel production facility and related facilities to be located in St. Rose.
- $550,000 in bonds for Jefferson Parish, City of Harahan for acquiring and improving lands and buildings as an addition to the Harahan Municipal Complex.
- $75 million in bonds for the Jefferson Parish Council, Jefferson Sales Tax District to provide funds to construct, improve or maintain public roads, streets or highways located in the parish including costs of reconstruction, rehabilitation, base stabilization, drainage, adjustments and related sidewalks and curbs; provide funding for a Reserve Fund; and reimburse any prior capital expenditures of the district.
- $55 million in bonds for the Louisiana Community Development Authority (Nicholls State University Student Housing/NSU Facilities Corporation Project) to pay off bonds, demolish certain existing facilities and renovating, developing and constructing certain facilities on the campus of Nicholls State University, funding a Reserve Fund, and paying capitalized interest on the bonds.
- $8.5 million in GO Zone bonds (preliminary approval) for the Industrial Development Board of the City of New Orleans, Louisiana, Inc. (521 Tchoupitoulas Street, L.L.C. Project) to finance the acquisition, construction and installation of a 24 room hotel and parking facilities to be located in the City of New Orleans.
- $8 million in GO Zone bonds (preliminary approval) for the Industrial Development Board of the City of New Orleans, Louisiana, Inc. (Robert Fresh Markets Project) for the the acquisition, construction and installation of two full service supermarkets to be located in the City of New Orleans.
- $40 million in bonds for The Finance Authority of New Orleans to refinance debt to use the funds made available to purchase mortgage loans and/or GNMA, FNMA or FHLMC backed by mortgage loans made to finance owner-occupied single family residential immovable property located in Orleans Parish to be owned and occupied by low and moderate income families or persons.
- $7 million in GO Zone bonds for the Hammond Area Economic Industrial Development District (Capital One Project) for financing land acquisition and the acquisition, construction and equipping of a 40,000 square foot office facility for use as an operations or processing center by Capital One Bank located on property to be owned by the District at the northeast corner of the intersection of Interstate I-12 and A Road in the City of Hammond.

Statewide Bond Commission approvals include $201.02 million in bonds (GO Zone) for the Louisiana Offshore Terminal Authority to refinance debt to provide cash flow relief and for acquiring, constructing, improving, and expanding the offshore terminal facility.
 

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