Bond Commission Approves $461 Million for Projects Statewide

BATON ROUGE, LA – On May 18, the State Bond Commission held its monthly meeting and approved $461 million in projects for Louisiana, according to State Treasurer John Kennedy.

“This month’s meeting was particularly significant because the State Bond Commission gave preliminary approval to the Louisiana Small Business Loan Guaranty Program,” said Treasurer Kennedy. “This program enables small businesses in the Gulf Opportunity Zone that are recovering from damage caused by wind, water, fire, business interruption or criminal acts as a result of Hurricanes Katrina or Rita to apply for a loan or bond issue through the private activity tax-exempt bond program under the Gulf Opportunity Zone Act of 2005. It will be up for the Bond Commission’s final approval next month.”

The Bond Commission approved the following:

Central and North Louisiana
- A $150,000 loan for the Caldwell Parish Assessment District to pay current expenses.
- A $20,000 loan for the Fire Protection District in Catahoula Parish for acquiring, constructing, maintaining, improving and operating fire protection equipment.
- A $600,000 loan for the Town of Lake Providence in East Carroll Parish to improve, maintain and repair public streets and necessary equipment.
- A $1 million loan for the Hospital Service District in LaSalle Parish to pay current expenses.
- A $250,000 loan for the West Carroll Parish Law Enforcement District for current operations.
- $10 million in bonds for the Caddo-Bossier Parishes Port Commission to acquire, construct, and equip a warehouse and distribution facility.
- $442,000 in bonds for the Waterworks District in DeSoto Parish to acquire and construct improvements and extensions to the waterworks system.
- $7 million in bonds for the City of Natchitoches to acquire, construct and equip a feed mill and related facilities.
- $1.5 million in bonds for the Sabine Parish School Board to refinance debt, saving $74,183.
- $129,000 in bonds for the Ebarb Waterworks District in Sabine Parish to construct and acquire improvements and extensions to the waterworks system.
- $3.3 million in bonds for the Sabine Parish School Board to refinance debt, saving $99,517.
- $7.5 million in bonds for the City of Springhill in Webster Parish to construct and acquire improvements and replacements to the waterworks system.
- $2 million in bonds for the Louisiana Local Government Environmental Facilities and Community Development Authority to acquire, construct and install a cottonseed oil mill in East Carroll Parish.

Baton Rouge Area
- A $255,000 loan for the Tangipahoa Parish Council to purchase a fire truck and other fire fighting equipment.
- $1.5 million in bonds for the Livingston Parish School Board to refinance debt, saving $126,462.
- $635,000 in bonds for the Livingston Parish School Board to refinance debt, saving $51,913.
- $1.2 million in bonds for the Livingston Parish School Board to refinance debt, saving $29,686.
- $1.7 million in bonds for the Livingston Parish School Board to refinance debt, saving $120,802.
- $2 million in bonds for the Tangipahoa Water District to acquire and construct improvements and extensions to the waterworks system.
- $10 million in bonds for the Louisiana Housing Finance Agency (LHFA) to finance an apartment facility on Hooper Road.
- $165 million in Gulf Opportunity Zone Bonds (preliminary approval) for the Industrial Development Board of the Parish of Ascension, Louisiana Inc. for acquiring, constructing and equipping a liquid logistics center in Geismar.
- $50 million in bonds (preliminary approval) for the East Baton Rouge Mortgage Finance Authority to provide a means of financing the cost of residential home ownership and development for persons of low and moderate incomes.

New Orleans Area
- A $250,000 loan for Fire Protection District No. 12 in St. Tammany Parish to acquire, construct and improve fire protection equipment, vehicles and emergency medical services.
- $4 million in bonds for the St. Tammany Parish Council for acquiring, constructing and improving facilities for the St. Tammany Parish Coroner’s Office.
- $30 million in Gulf Opportunity Zone Bonds (preliminary approval) for the Jefferson Parish Finance Authority to purchase mortgage loans and/or mortgage-backed securities for owner-occupied residential immovable property owned by low to moderate income persons.
- $50 million in bonds (preliminary approval) for the Louisiana Public Facilities Authority (LPFA) to finance and refinance capital improvements and equipment throughout the Loyola University campus. A portion of the bonds will be Gulf Opportunity Zone Advance Refunding Bonds.
- $14 million in Gulf Opportunity Zone Bonds for the LPFA for acquiring, constructing and installing an offshore drilling equipment storage facility in Houma.
- $29 million in bonds for the LHFA to issue to Housing and Urban Development (HUD) for defaulted projects.

Southwest Louisiana
- A $700,000 loan for the Cameron Parish Law Enforcement District for operating expenses.
- A $260,000 loan for the District Five Road and Public Works Commission of St. Landry Parish for constructing, acquiring, maintaining and operating roads, bridges and road drainage facilities.
- A $750,000 loan for the City of Abbeville in Vermilion Parish to pay current expenses.
- $835,000 in bonds for the Waterworks District in St. Landry Parish for acquiring, constructing, improving and extending the waterworks system.
- $10 million in Gulf Opportunity Zone Bonds (preliminary approval) for the Industrial Development Board in St. Martin Parish for acquiring, renovating, retrofitting and improving the industrial plant on Martin Mills to use as a multipurpose industrial park.
- $5 million in bonds (preliminary approval) for the Industrial Development Board of the City of Rayne, Inc. for the acquisition of land and equipment to construct additional buildings and make improvements to existing buildings at its facility.
- $10 million in bonds for the Calcasieu Parish Public Trust Authority to assist low to moderate-income homebuyers in the Imperial Calcasieu Parish Area.

In addition to approved projects in these areas, the Bond Commission gave preliminary approval to the LPFA to provide $40 million in financial assistance to healthcare, educational and 501 (c) (3) institutions statewide. For more information, or to download a copy of this month’s Bond Commission agenda, visit www.latreasury.com.

 

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