State Treasurer John Kennedy Announces Statewide Bond Commission Approvals

BATON ROUGE, LA -- The State Bond Commission met on September 21 and approved funding for a variety of projects statewide, according to State Treasurer John Kennedy.

“We approved a variety of local government requests statewide, and we opened the meeting with an online sale of $500 million in general obligation bonds,” said Treasurer Kennedy.  “We had a record number of investors participating in the bond sale, and the turnout indicates that the market sees Louisiana’s credit as improving.  The state has been working hard to fully recover financially from Hurricanes Katrina and Rita, and the success of this bond sale shows that our efforts were well worth it.”

The Bond Commission approved the following:
 

Central Louisiana

-         A $1.7 million loan for the Rapides Parish School Board to purchase school buses and maintenance vehicles.

-         A $420,000 loan for the town of Woodworth in Rapides Parish to purchase the Bayou Latanier Water System.

-         $300,000 in bonds for the Hospital Service District No. 1 in Avoyelles Parish for system construction and improvements.

-         $680,000 in bonds for the town of New Llano in Vernon Parish for construction, equipment and furnishing a new city hall.

Baton Rouge Area

-         A $250,000 loan for the city of Donaldsonville in Ascension Parish to pay current expenses.

-         A $1.8 million loan for the city of Donaldsonville in Ascension Parish for construction and maintenance of public roads, highways and bridges; to

      acquire a waterworks system; and to purchase a fire truck.

-         A $6 million loan for the East Baton Rouge Parish Law Enforcement District for current expenses.

-         $290,000 in additional certificates of indebtedness for the Livingston Parish Council to make waterworks system improvements in the Bruce’s

      Harbor area.

-         $1.3 million in bonds (final approval) for the city of Donaldsonville in Ascension Parish for construction and improvements to the gas utility

      system.

-         $8.6 million in bonds for the Orange Grove Community Development District in Ascension Parish for water system, road and other infrastructure

      improvements.

-         $2.6 million in bonds for the Livingston Parish Council for waterworks system improvements.

-         $3.2 million in bonds for the town of Walker in Livingston Parish to refinance debt, saving taxpayers $228,219.

-         $16.4 million in bonds for the Whispering Springs Community Development District in Livingston Parish for waterworks system improvements.

-         $8.7 million in bonds for the Juban Parc Community Development District in Livingston Parish for waterworks system improvements.

-         $5 million in Gulf Opportunity Zone bonds for the Louisiana Community Development Authority to finance the cost of a 35-acre apartment, retail

      and condominium development adjacent to Tiger Stadium.

-         $30 million in GO Zone bonds for the LCDA to finance the construction of a seven story, 117 unit Intercontinental Staybridge Suites hotel

      adjacent to Tiger Stadium.

-         $13.5 million in GO Zone bonds for the LCDA to acquire a retail store in Gonzales, a retail store in St. Tammany Parish, and a truss

      manufacturing facility to be located in Hammond.

Southwest Louisiana

-         A $245,000 loan for the city of DeRidder in Beauregard and Vernon Parishes to acquire and equip a fire truck.

-         A $250,000 loan for the city of Ville Platte in Evangeline Parish to purchase a firefighter vehicle.

-         $450,000 in additional certificates of indebtedness for the city of Carencro in Lafayette Parish for construction and improvements to the city’s

      utilities system.

-         A $100,000 loan for the town of Washington in St. Landry Parish to acquire machinery, equipment and materials for the town’s waterworks

      system including the acquisition of auxiliary generators.

-         $12.5 million in bonds for the Lake Charles Housing Authority to acquire, rehabilitate and equip the Chateau du Lac 198 unit multifamily housing

      residential project for low-income residents.

-         $1.2 million in GO Zone Bonds (preliminary approval) for the Calcasieu Parish Public Trust Authority to acquire land, demolish existing

      structures, and construct a 7,500 square foot insurance office building in Lake Charles.

-         $1.2 million in GO Zone Bonds (preliminary approval) for the Calcasieu Parish Public Trust Authority to construct a commercial building and

      infrastructure improvements to accommodate a dental office in Lake Charles.

-         $7.5 million in GO Zone Bonds (preliminary approval) for the Louisiana Public Facilities Authority to finance the construction of a new hotel,

      meeting space and business center in New Iberia.

-         $60 million in bonds (preliminary approval) for the Calcasieu Parish Public Trust Authority to assist low- to moderate-income homebuyers in the

      Imperial Calcasieu Parish area.

-         $50 million in sales tax increment revenue bonds (preliminary approval) for the Industrial Development Board of the Parish of Lafayette to

      finance a shopping center and infrastructure improvements.

New Orleans Area

-         $10 million in bonds (preliminary approval) for the Lafourche Parish Water District No. 1 for waterworks system improvements.

-         $7.5 million in GO Zone bonds (preliminary approval) for the Industrial Development Board of the city of Donaldsonville to construct and equip

      a 42,000 square foot food manufacturing plant and research and development facility for Chef John Folse & Company.

-         $55 million in GO Zone bonds for the Jefferson Parish Finance Authority to provide mortgage loans to low and moderate-income families.

-         $9 million in GO Zone bonds for the LPFA to renovate a hotel in Covington in St. Tammany Parish.

-         $100 million in bonds (preliminary approval) for the Finance Authority of New Orleans to provide mortgage loans to low and moderate-income

      families.

-         Approval of the distribution of $35.9 million in escrowed GO Zone tax credit bonds to the New Orleans Regional Transit Authority.

-         $125 million in single family mortgage revenue bonds with application for GO Zone designation (preliminary approval) for the Finance Authority

      of St. Tammany Parish to provide below-market financing for renovations and home purchases for low and moderate income families.

North Louisiana

-         A $50,000 loan for the Red River Parish Police Jury to pay a portion of the costs of purchasing a road grinder.

-         $460,000 in bonds (preliminary approval) for the town of Wisner in Franklin Parish for waterworks system improvements.

-         $2.75 million in bonds (preliminary approval) for the town of Jonesboro in Jackson Parish for waterworks system improvements.

-         $950,000 in bonds (preliminary approval) for the village of Forest in West Carroll Parish for waterworks system improvements.

-         $15 million in bonds for the city of Monroe in Ouachita Parish to finance sewerage system improvements.

-         $2.4 million in bonds for the LCDA to finance the acquisition and rehabilitation of a cotton gin located in Lake Providence.

-         $1.5 million in bonds for the LCDA to finance the construction and development of an intermodal transit facility and parking improvements at the

      University of Louisiana at Monroe.

-         $59.3 million in bonds to finance residence hall facilities at Grambling State University.

-         $5.7 million in bonds to finance food service facilities including dining hall, meeting rooms and other related facilities at Grambling University.

-     $5 million in bonds for the LCDA to acquire and install supporting facilities and equipment for the manufacture of polyethylene sheeting at its

      manufacturing facility in Monroe.

Statewide Bond Commission approvals include preliminary approval for the issuance of $1.2 billion in gasoline and fuels tax revenue bonds to fund TIMED projects.  The commission also approved $50 million in Gulf Opportunity Zone bonds for the Louisiana Housing Finance Agency to provide affordable housing in GO Zone areas of the state.  In addition, the commission gave preliminary approval to the LHFA for $175 million in bonds to provide low-interest student loans to Louisiana students and parents.
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