State Bond Commission approves over $145M for local projects
POSTED: Thursday, August 15, 2013 - 2:30pm
UPDATED: Thursday, August 15, 2013 - 2:34pm
BATON ROUGE, LA — The State Bond Commission approved over $145 million for projects statewide and approximately $898,000 in savings from refinancing existing public debt at its August 15 meeting, according to State Treasurer John Kennedy.
"We saved taxpayers hundreds of thousands of dollars by signing off on the refinancing of public debt in five parishes," said Treasurer Kennedy. "In addition, the Bond Commission approved bonds to finance new roads in Zachary; make homeownership affordable statewide; pay for hospital renovations in southeast Louisiana; and finance infrastructure and capital improvement projects across the state."
Among the individual projects approved were:
- Beauregard Parish, Beauregard Parish Police Jury, $960,000 in Certificates of Indebtedness: for acquiring buildings and a site to be used for public purposes.
- East Baton Rouge Parish, City of Zachary, $10 million in Public Street Bonds: for widening and improving public roads, drainage, traffic signal synchronization, landscaping and sidewalks.
- East Carroll Parish, Town of Lake Providence (DEQ Project), $650,000 in Taxable Sewer Revenue Bonds: for construction and improvements of a wastewater collection and disposal system.
- Iberia Parish, Iberia Parish Council, Economic Development District No. 1, $10 million in Sales Tax Bonds: for various capital improvements.
- Orleans Parish, Orleans Parish School Board, a $7.5 million Loan and $9.7 million in Guarantees: for the construction of McDonogh 42 Elementary School and related facilities.
- Louisiana Housing Corporation, $50 million in Single Family Mortgage Revenue Bonds (Volume Cap): for financing mortgage loans for first-time homebuyers statewide.
- East Baton Rouge, St. Tammany and Tangipahoa Parishes, Louisiana Community Development Authority (Mary Bird Perkins Cancer Center Project), $25 million in Revenue Bonds: for cancer equipment and renovation and expansion projects to health care facilities.
- Calcasieu Parish, Louisiana Public Facilities Authority (Southwest Louisiana Charter Academy Foundation, Inc.), $20 million in Taxable or Tax-Exempt Revenue Bonds: to finance the construction and construction of a K-8 tuition-free public charter school in Lake Charles.
- Calcasieu Parish, Calcasieu Parish Public Trust Authority (Lake Charles Memorial Hospital Project), $10 million in Revenue Bonds for the construction of hospital facilities.
- Union Parish, Hospital Service District No. 1, Wards 3, 4 and 10, $1.545 million in Hospital Revenue Bonds to make improvements to Reeves Medical Center.
Likewise, the Commission approved approximately $898,000 in savings for local governments by refinancing existing debt. Among the savings were:
- Acadia Parish, Acadia Parish Police Jury, $940,000 in Correctional Center Refunding Bonds: approximately $66,000 in savings.
- St. James Parish, St. James Parish Council, $3 million in General Obligation Refunding Bonds: approximately $74,000 in savings.
- St. Landry Parish, Town of Port Barre, $540,000 in Utilities Revenue Refunding Bonds: approximately $255,000 in savings.
- Union Parish, Hospital Service District No. 1, Wards 3, 4 and 10, $455,000 in Hospital Refunding Bonds: approximately $77,000 in savings.
Calcasieu Parish,Calcasieu Parish Public Trust Authority (Lake Charles Memorial Hospital Project), $6.35 million in Revenue Refunding Bonds: approximately $426,000 in savings.