Bond Commission Approves $926 Million for Projects Statewide

BATON ROUGE, LA – The State Bond Commission held its monthly meeting on April 20 and approved $926 million in projects for Louisiana, according to State Treasurer John Kennedy.

“We approved a number of tax-exempt private activity bonds for preliminary and final approval for local governments and businesses located in the 31-parish area designated by the Gulf Opportunity Zone Act of 2005,” said Treasurer Kennedy. “I am pleased to see that we are moving forward with the issuance of these bonds since they are an extraordinarily important financial option for rebuilding the devastated areas of our state.”

The Bond Commission approved the following:

Central and North Louisiana
- A $600,000 loan (preliminary approval) for the town of Lake Providence in East Carroll Parish for the improvement, maintenance and repair of public streets and equipment.
- A $2.5 million loan for the Morehouse Parish Hospital Service District to pay current expenses.
- A $1.25 million loan for the city of West Monroe in Ouachita Parish to acquire a building.
- A $600,000 loan for the Rapides Police Jury for constructing and improving public roads, highways and bridges.
- A $900,000 loan for the Vernon Parish Law Enforcement District for general operations.
- A $112,000 loan for the West Carroll Parish Police Jury to purchase a building.
- A $100,000 loan for the West Carroll Parish Police Jury to purchase a fuel system for the West Carroll Kelly Airport.
- $2 million in bonds for the town of Sterlington in Ouachita Parish for constructing and acquiring improvements, extensions and replacements to the town’s sewer systems.
- $1.2 million in bonds for the Greater Ouachita Port Commission for constructing, acquiring, improving and equipping dock and related facilities.
- $200 million in bonds for the Rapides Finance Authority for acquiring, constructing and installing facilities at Cleco’s solid fuel power plant in Boyce.
- $135 million in bonds for the Louisiana Public Facilities Authority (LPFA) for acquiring, designing, constructing and equipping a syrup mill and associated facilities in Bunkie.

Baton Rouge Area
- A $1.4 million loan for the East Side Fire Protection District No. 5 in Baton Rouge Parish for acquiring land, and constructing and furnishing a fire station.
- A $3.5 million loan for the Pointe Coupee Parish School Board to pay current expenses.
- $7.5 million in bonds for the Louisiana Housing Finance Agency (LHFA) for acquiring, constructing, equipping and rehabilitating multifamily housing units in Livingston Parish.
- $5.4 million in bonds for the LHFA for acquiring, equipping and rehabilitating multifamily housing units in Baton Rouge.
- $60 million in Gulf Opportunity Zone Bonds (preliminary approval) for the LPFA for constructing, installing and equipping an office building and parking garage in Baton Rouge.
- $160 million in Gulf Opportunity Zone Bonds (preliminary approval) for the LPFA for acquiring, constructing, reconstructing and renovating nonresidential and public utility property in Washington Parish. This project also includes Acadia, Iberia, St. Martin, St. Mary, St. Tammany and Calcasieu parishes.
- $60 million in bonds for the Louisiana Local Government Environmental Facilities and Community Development Authority for the construction, extension, improvement and maintenance of roads, bridges and drainage systems in Livingston Parish.
- $17.5 million in Gulf Opportunity Zone Bonds (preliminary approval) for the LPFA for acquiring, constructing and installing a pipeline from Dow Chemical in Plaquemine to Total Petrochemicals USA in Carville.

New Orleans Area
- $7 million in bonds for the South Lafourche Levee District for levee construction, maintenance and flood protection.
- $4.5 million in bonds for the Port of South Louisiana in St. John Parish for acquiring, constructing, installing and equipping a new building.
- $2 million in bonds for the Port of South Louisiana in St. John Parish to acquire the Constar Building.
- $50 million in bonds for the St. Tammany Parish Council for acquiring, constructing, extending and improving roads, bridges and drainage facilities.
- $2.5 million in bonds for the town of Madisonville in St. Tammany Parish for constructing and acquiring extensions and improvements to the natural gas utility system.
- $65 million in Gulf Opportunity Zone Bonds for the Louisiana Local Government Environmental Facilities and Community Development Authority for acquiring, constructing, expanding, installing and equipping facilities for ship manufacturing and repair at the Terrebonne Port.
- $14 million in Gulf Opportunity Zone Bonds (preliminary approval) for the LPFA for acquiring, constructing and installing an offshore drilling equipment storage facility in Houma.
- $160 million in Gulf Opportunity Zone Bonds (preliminary approval) for the LPFA for acquiring, constructing, reconstructing and renovating nonresidential and public utility property in St. Tammany Parish. This project also includes Acadia, Calcasieu, Iberia, St. Martin, St. Mary and Washington parishes.

Southwest Louisiana
- A $250,000 loan for the Allen Parish Tourist Commission to renovate and restore the Leatherwood Museum in Oakdale.
- A $168,000 loan for the St. Mary Parish Council for acquiring, reconstructing and enlarging a building for P & K Machine-BCM Industries, Inc.
- A $72,000 loan for the Vermilion Parish Police Jury to renovate and improve the library in Erath.
- $2 million in bonds (preliminary approval) for Lafayette Parish to make waterworks system improvements and extensions.
- $1.5 million in bonds for Cameron Parish to make waterworks system additions and improvements.
- $20 million in Gulf Opportunity Zone Bonds for Vermillion Parish (preliminary approval) for acquiring land, and designing and constructing medical facilities.
- $28 million in bonds (preliminary approval) for the city of DeRidder for renovating, improving and expanding an oil refinery.
- $50 million in bonds for the Industrial Development Board for acquiring, constructing and installing all facilities associated with natural gas storage, pipelines and facilities in Evangeline Parish.
- $20 million in Gulf Opportunity Zone Bonds (preliminary approval) for the LPFA for acquiring, constructing and equipping a hotel and parking lot in Lafayette.
- $160 million in Gulf Opportunity Zone Bonds for the LPFA for acquiring, constructing, reconstructing and renovating nonresidential and public utility property in Acadia, Iberia, St. Martin, St. Mary and Calcasieu parishes. This project also includes Washington and St. Tammany parishes.

Statewide Bond Commission approvals include $200 million in bonds for the LHFA to finance below market mortgage loans for first time homebuyers. For more information, or to download a copy of this month’s Bond Commission agenda, visit www.latreasury.com.
 

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