Louisiana Bond Commission approves over $81.3 million for local projects, over $7 million in savings
POSTED: Friday, May 17, 2013 - 3:00am
UPDATED: Friday, May 17, 2013 - 3:04am
Baton Rouge, La —
The State Bond Commission approved over $81.3 million for projects statewide and approximately $7.3 million in savings from refinancing existing public debt at its May 16th meeting, according to State Treasurer John Kennedy.
"Today several parishes received the commission's approval for a variety of projects that will prove beneficial for their communities," said Treasurer Kennedy. "Local governments also continued to take advantage of low interest rates and will save millions this month by refinancing higher interest debt."
Among the individual projects approved were:
• Avoyelles Parish, Town of Cottonport, $800,000 in Certificates of Indebtedness: to resurface and improve public streets.
• Iberville Parish, Iberville Parish Council, $600,000 in Limited Tax Certificates: to construct an office/maintenance complex for the collection of waterworks bills.
• Jefferson Parish, Jefferson Parish School Board, $50 million in Limited Tax Bonds: for school facility and technology improvements and the acquisition of security cameras and school buses.
• Lafayette Parish, Waterworks District South, $1.5 million in Water Revenue Bonds: for waterworks system improvements, extensions and replacements and equipment.
• Madison Parish, City of Tallulah, $4.75 million in Sewer Revenue Bonds: for wastewater collection and treatment system improvements and extensions.
• Ouachita Parish, City of Monroe, $12 million in Sales Tax Revenue Bonds: to construct and acquire sewerage and waterworks system improvements and expansions.
• Ouachita Parish, North Monroe Sewer District No. 1, $165,000 in Sewer Revenue Bonds: for sewerage system improvements and extensions.
• St. Helena Parish, St. Helena Parish School Board, $4.2 million in Sales Tax bonds: to rehabilitate or repair schools and facilities and for educational equipment.
• St. Martin Parish, Water and Sewer Commission No. 1, $410,000 in Sewer Revenue Bonds: for acquiring, constructing, improving and maintaining sewerage disposal works.
• St. Mary Parish, Recreation District No. 3, $1.5 million in Limited Tax Bonds: to improve recreational facilities.
• Jefferson Parish, City of Gretna, $389,000 in Lease Purchase Obligations: to finance a portion of the acquisition of property through a parish loan.
• Louisiana Public Facilities Authority (Sheppard Park Apartments Project), $5 million in Revenue Bonds (Volume Cap): for the acquisition and renovation of an existing 80-unit elderly affordable housing property in Minden.
Likewise, the Commission approved approximately $7.3 million in savings for local governments by refinancing existing debt. Among the refinancings were:
• Caddo Parish, Waterworks District No. 7, $450,000 in Water Revenue Refunding Bonds: approximately $46,000 in savings.
• Catahoula Parish, Town of Jonesville, $1.65 million in Taxable Utilities Revenue Refunding Bonds: approximately $260,000 in savings.
• Jefferson Parish, Jefferson Parish Council, $10 million in Revenue Refunding Bonds: approximately $1.4 million in savings.
• Livingston Parish, City of Denham Springs, $10 million in Revenue Refunding Bonds: approximately $345,000 in savings.
• Ouachita Parish, Town of Sterlington, $3 million in Refunding Bonds: $240,000 in savings.
• Plaquemines Parish, Plaquemines Parish Council, $3.725 million in Revenue Refunding Bonds: $115,000 in savings.
• Tangipahoa Parish, Hospital Service District No. 1 (North Oaks Health System Project), $62 million in Hospital Revenue Refunding Bonds: approximately $4.8 million in savings.
• Tangipahoa Parish, Tangipahoa Parish Water District, $4.25 million in Revenue Refunding Bonds: approximately $135,000 in savings.