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$91M approved for local projects

$91M approved for local projects
MGN Online
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POSTED: Saturday, December 21, 2013 - 6:00pm

UPDATED: Saturday, December 21, 2013 - 6:04pm

At the Dec. 19 meeting of the State Bond Commission, local governments benefited from roughly $91 million in funding for public projects and approximately $1.1 million in savings from refinancing existing public debt, according to State Treasurer John Kennedy. 

"This funding will provide much-needed public services statewide including improvements to waterworks systems and fire protection facilities," said Kennedy.

Among the individual projects approved were:

Livingston Parish,Fire Protection District No. 1, $225,000 in Certificates of Indebtedness:  for fire station expansion and remodeling. 

South Central Planning and Development Commission, $500,000 in Certificates of Indebtedness:  to provide for capital improvements in Assumption, Lafourche, St. Charles, St. James, St. John the Baptist and Terrebonne Parishes.

St. Tammany Parish, Fire Protection District No. 1, $3 million in Limited Tax Certificates of Indebtedness:  for improvements to fire protection facilities including the purchase of fire trucks and equipment.

LaSalle Parish, Town of Olla (DHH Program), $500,000 in Taxable Water Revenue Bonds:  for improvements and additions to the drinking water system including equipment.

St. Landry Parish, St. Landry Parish Council, Road District No. 1, $62.5 million in Sales Tax Revenue Bonds:  for improvements to public roads and bridges.

St. Mary Parish, West St. Mary Parish Port, Harbor and Terminal District, $3 million in Revenue Bonds:  for acquiring, improving, equipping and furnishing facilities.

St. Tammany Parish, City of Slidell, Fremaux Economic Development District, $6 million in Sales Tax Bonds:  for various economic development projects.

Vermilion Parish, Abbeville Harbor and Terminal District, $5 million in Limited Tax Bonds:  for improving, equipping and furnishing facilities.

Vernon Parish, Town of New Llano (DHH Program), $1 million in Taxable Water Revenue Bonds:  for drinking water system improvements.

Louisiana Community Development Authority, (Louisiana Tech University Student Athletic Facilities/Innovative Student Facilities, Inc. Project), $9 million in Revenue Bonds:  for renovations and reconstruction of athletic and student facilities.

Likewise, the Commission approved approximately $1.1 million in savings for local governments by refinancing existing debt.  Among the savings were:

Ouachita Parish, Prairie Road Water District, $426,000 in Water Revenue Refunding Bonds:  approximately $270,000 in savings.

Louisiana Housing Corporation, $13 million in Single Family Mortgage Revenue Refunding Bonds:  approximately $525,000 in savings.

Louisiana Community Development Authority, (St. Bernard Port, Harbor and Terminal District Project), $10 million in Revenue and Refunding Bonds:  approximately $257,624in savings.

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