State Treasurer John Kennedy Announces Statewide Bond Commission ApprovalsBATON ROUGE, LA -- The State Bond Commission met August 16 and approved funding for a variety of projects statewide, according to State Treasurer John Kennedy.
“We approved a variety of projects statewide ranging from infrastructure and school improvements to funding for law enforcement,” said Treasurer Kennedy. “We also discussed the overwhelming response to the private activity bond portion of the GO Zone program. The commission currently has more GO Zone applications than we do capacity, so Governor Blanco is going to look at the universe of applications and recommend to us how to move forward.”
The Bond Commission approved:
Central and North Louisiana - A $400,000 loan for the LaSalle Parish Law Enforcement District for current expenses. - A $400,000 loan for the Madison Parish Hospital Service District for acquiring and renovating a medical office building for use as a health clinic. - A $180,000 loan for the Morehouse Parish Assessment District for operating expenses. - A $1.5 million loan for Morehouse Parish, City of Bastrop for current expenses. - A $500,000 loan for the Vernon Parish Law Enforcement District for general operations. - $980,000 in bonds for Avoyelles Parish, Village of Hessmer for waterworks system improvements. - $2 million in bonds for Avoyelles Parish, City of Marksville for street improvements. - $4.5 million in bonds for Lincoln Parish, City of Ruston for improving the city’s water portion of the combined sewer and sewage treatment system, water plant and distribution system and electric light and power plant system. - $11.95 million in bonds for the Ouachita Parish School Board, West Ouachita School District for improving schools and related facilities. - $2.231 million in bonds for Rapides Parish, Town of Woodworth to finance sewerage system improvements including equipment and accessories. - $1.55 million in bonds for Vernon Parish, City of Leesville for waterworks system improvements including the acquisition and installation of new water meters. - $4.7 million in bonds for the Board of Supervisors of Louisiana State University and Agricultural and Mechanical College (Louisiana State University at Alexandria Project) for the construction and equipping of a baseball and softball Complex and the renovation of and additions to the student center on campus, and funding a reserve fund. - $2.045 million in bonds for the Louisiana Community Development Authority (University of Monroe Facilities, Inc., Clarke M. Williams Student Success Center) for the renovations and/or demolition of existing facilities and design, development, constructing and equipping of the Clarke M. Williams Student Success Center and other related facilities. - $90 million in bonds for the Industrial Development Board of the Parish of Winn, Louisiana Inc. (JELD-WEN, Inc. Project) for the acquisition, construction and installation of a manufacturing facility.
- $30 million in bonds for the Louisiana Public
Facilities Authority (The Glen Retirement System Project) for acquiring,
constructing, installing, renovating, equipping and/or upgrading independent
living, assisted living and nursing facilities located in Shreveport and Bossier
City; refinancing debt; and funding a reserve fund. - A $6 million loan for East Baton Rouge Parish, Recreation and Park Commission for current expenses. - $71 million in bonds for the Louisiana Community Development Authority (East Ascension Consolidated Gravity Drainage District No. 1 Project) to refinance debt and finance improvements to property and systems. - A $147,730 loan for the St. Tammany Parish Fire Protection District No. 13 to purchase a fire truck. The approval is conditional upon the approval of a St. Tammany Council proposition. - A $775,000 loan for the St. Tammany Parish Fire Protection District No. 13 to pay the costs of acquiring, constructing and improving fire protection facilities and equipment. The approval is conditional upon the approval of a St. Tammany Council proposition. - $6.4 million in bonds for the Louisiana Housing Finance Agency (Lapalco Court Apartments Project) for the acquisition and substantial rehabilitation of an apartment development serving low to moderate income families in Harvey. - $5.5 million in bonds, a lease agreement and a trust indenture for Orleans Parish, Industrial Development Board of City of New Orleans (LGD Rental I, LLC Project) to finance a portion of the cost of Phase II of the LGD Rental I, Project. - $15 million in single family mortgage revenue bonds for the Hammond-Tangipahoa Home Mortgage Authority to finance single family housing for low to moderate income families within the City of Hammond and Parish of Tangipahoa. The approval is made with the reservation to come back for GO Zone approval if needed.
- $24
million in bonds for St. Tammany Parish, Colonial Pinnacle Community Development
District to finance the costs of infrastructure improvements to support an
upscale retail shopping center located in Covington. Southwest Louisiana - $215,000 in bonds (preliminary approval) for Evangeline Parish, Village of Pine Prairie for constructing a community center for the village. - $31 million in bonds for the Louisiana Agricultural Finance Authority (Multiple Buildings and Equipment Projects) for acquiring, demolishing, constructing and installing a building in Opelousas for use as offices of the Louisiana Department of Agriculture and Forestry; acquiring dozers, trucks and other equipment to be used for firefighting and agricultural purposes; planning, design, and contingency; and funding a debt service reserve fund. The approval is subject to the condition that the Louisiana Equipment Acquisition Fund or the Master Installment Purchase Agreement takes down as much of the loan as possible in a timely manner. - $50 million in single family mortgage revenue bonds for the Lafayette Public Trust Financing Authority to provide financing for residential home ownership for residents of the eligible loan area who are persons of low and moderate income. The approval is made with the reservation to come back for GO Zone approval if needed.
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$15 million in bonds for the Calcasieu Parish
Public Trust Authority to acquire GNMA, FHLMC, and FNMA mortgage-backed
pass-through securities representing certain single family mortgage notes
secured by mortgages on owner- occupied residential real or immovable property
owned by low and moderate income persons in the Imperial Calcasieu Parish Area
(Calcasieu, Cameron, Beauregard, Jefferson Davis, and Allen Parishes) originated
by participating mortgage lenders; and to make deposits into certain funds,
accounts and sub- accounts including, but not limited to, a program fund,
revenue fund, expense fund, bond fund and rebate fund.
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