State Bond Commission Approves $560 Million for Statewide Projects

BATON ROUGE, LA – Louisiana residents will benefit from $560 million in projects approved at the July meeting of the State Bond Commission, according to State Treasurer John Kennedy.

"The Bond Commission also gave final approval for a loan and credit guaranty program for small businesses needing financing to recover and rebuild from damages caused by Hurricanes Katrina and Rita," said Treasurer Kennedy.  "The program is targeted toward small business and industry groups that are not receiving the same level of help available to larger businesses and industries under the federal hurricane relief legislation.  Qualified businesses will be able to get state loan guarantees or credit enhancements of up to 25 percent of each loan amount for rebuilding."

The Bond Commission approved the following:

Central and North Louisiana

- A $350,000 loan for the town of Woodworth in Rapides Parish for construction of a municipal building.

- A $400,000 loan for the Vernon Parish Law Enforcement District for operational expenses.

- A $200,000 loan for the city of Winnfield in Winn Parish for the renovation and development of an industrial complex.

- $12.5 million in bonds (preliminary approval) for the Louisiana Public Facilities Authority (LPFA) to design and construct residence facilities at LSU Alexandria.

- A $2 million loan for the Morehouse Parish School Board for current operations.

- $7 million in bonds for the Sabine Parish Industrial District to construct and equip the Kisatchie Treating pole manufacturing and treating facility.

- $4.5 million in bonds for the Louisiana Community Development Authority (LDA) to acquire, construct and equip a Pine Valley Foods manufacturing facility in Ouachita Parish. The project will create 50 new jobs, and the expansion will retain 128 jobs.

- A $75,000 loan for the town of Richwood in Ouachita Parish to pay current expenses.
 

Baton Rouge Area

- A $2 million loan for the Metro Council of the Parish of East Baton Rouge and City of Baton Rouge to acquire land at the Baton Rouge Metropolitan Airport.

- A $1 million loan for the Pointe Coupee Parish Law Enforcement District to pay current operating expenses.
- $200 million in bonds ($70 million of which are Gulf Opportunity Zone Bonds) for the East Baton Rouge Sewerage Commission to construct and acquire sewers and sewerage disposal works for the parish.

- $1 million in bonds for the West Baton Rouge Parish Council for public infrastructure improvements in connection with the Wal-Mart Supercenter in the parish.
- An interest rate swap agreement of road and street improvement sales tax revenue bonds for the Metro Council of the Parish of East Baton Rouge and City of Baton Rouge to reduce its exposure to increases in interest rates.

- An interest rate swap agreement of the East Baton Rouge Sewerage Commission’s sewerage bond program to reduce its exposure to rising interest rates.

- $15 million in GO Zone bonds for the LDA to acquire and construct a new Duplessis automotive dealership facility in Ascension Parish and to expand an existing facility in Baton Rouge.  The project will create 300 temporary and 50 permanent jobs.

- $1.25 million in bonds for the LDA to design, construct and equip a sewer system facility in West Baton Rouge Parish.

- $50 million in GO Zone bonds (preliminary approval) for the LPFA to construct, install and equip a four-star hotel in Baton Rouge

- $60 million in GO Zone bonds (preliminary approval) for the LPFA to construct, renovate and equip a state-of-the-art film studio and media center in Baton Rouge.  The project will create 100 temporary and 820 permanent jobs.

- $21 million in bonds for the LPFA to finance the acquisition of information technology software, medical, diagnostic and related healthcare equipment for General Health System and Baton Rouge General Medical Center.

- $22 million in bonds for the East Baton Rouge Mortgage Finance Authority to provide low and moderate income housing to parish residents and to expand funds available for mortgage loans.

- $98 million in bonds for expansion and renovations to the LSU Student Union, a new men’s baseball stadium, a new women’s softball stadium, other athletic facilities and enhancements and surface and garage parking facilities.

Southwest Louisiana

- A $5 million loan for the Acadia Parish Police Jury for construction and improvements to parish roads and bridges including drainage.

- A $1 million loan for the Acadia Parish School Board to rehabilitate or repair public school facilities in the parish.

- A $150,000 loan for the Allen Parish Assessment District for current year expenses.

- A $200,000 loan for the village of Turkey Creek in Evangeline Parish for constructing a community/multipurpose facility.

- A $1.5 million loan for the Lafayette Parish Law Enforcement District for purchasing, acquiring and improving correctional facilities.

- A $2.55 million loan for the city of Carencro in Lafayette Parish for utility system improvements.

- A $110,000 loan for the city of Opelousas in St. Landry Parish to purchase and equip a rescue vehicle for the Opelousas Fire Department.

- A $500,000 loan for the St. Mary Parish Council to construct public parking facilities.

- A $300,000 loan for the St. Mary Parish Council for improvements to public parks and recreational facilities.

- $375,000 in bonds (preliminary approval) for the town of Arnaudville in St. Landry and St. Martin Parishes to acquire the Prairie Des Femmes water system.

- $1.05 million in bonds for the Jefferson Davis Parish School Board to refinance debt, saving taxpayers $64,473.

- $2.10 million in bonds for the Lafayette Parish Waterworks District South to make waterworks system improvements.

- $231,000 in bonds for the Southeast Waterworks District No. 2 in Vermilion Parish for waterworks system equipment, accessories and properties.

New Orleans Area

- A $2 million loan for the Tangipahoa Parish Law Enforcement District for current operations.

- A $528,407 loan for the Bogalusa School Board in Washington Parish to finance an energy performance contract with Johnson Controls.

- $1.48 million in bonds (preliminary approval) for the St. Tammany Parish Sewerage District No. 6 for improvements and renovations to the district’s sewerage system.

- $1.75 million in bonds for the Sewerage District No. 1 in Lafourche Parish for sewerage system improvements, renovations, equipment and accessories.

- $750,000 in bonds for the town of Golden Meadow in Lafourche Parish to construct, acquire and furnish a municipal building to house a town hall and other offices.

- $6.2 million in bonds for the St. John the Baptist Parish Council to acquire, install and improve a water distribution system.

- $18 million in bonds for the St. John the Baptist Parish School Board to make capital improvements to the public school system.

- $5.77 million in bonds for the Tangipahoa Water District in Tangipahoa Parish to refinance outstanding debt, saving taxpayers $502,389.

- $10.5 million in GO Zone Bonds for the LDA to construct and develop an international state-of-the-art women’s breast care hospital specializing in reconstructive plastic, orthopedic and neuro surgeries in New Orleans.   The project will create 150 temporary and 20 permanent jobs.

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

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