BATON ROUGE, La. (Press Release) — On Thursday, September 26, the Louisiana Bond Commission approved funding for various projects across the state. “We are pleased that our department has been able to secure this important funding to complete so many important projects in parishes across the state,” said Louisiana State Treasurer Dr. John Fleming. I am. Some of the individual projects approved by the State Bond Commission are listed below. East Baton Rouge Parish: $220 million in sales tax revenue for drainage projects, road construction or improvements, including traffic synchronization, and improvements to existing corridors to improve mobility, such as signal synchronization and sidewalks. Bonds. Build community enhancement projects such as improvements to drainage, lighting, sidewalks, and advanced traffic management systems. Kenner City-Jefferson Parish: $4,000,000 in sales tax bonds for sewer lift station upgrades and improvements. New Orleans Aviation Commission: $575 million in General Airport Revenue Repayment Bonds to reimburse the North Terminal Project, Series 2015A and 2015B. $45 million in revenue bonds to be used to fund the construction and equipping of additional capital improvements, including planning, architectural, engineering, and similar costs, as well as contingency funds. Iberia Port District: $10,000,000 revenue bond and $14,249,210 grant application note for the acquisition, construction, improvement, and equipment of real estate, infrastructure, and onshore infrastructure. Vermilion Parish, City of Abbeville: $5,900,000 in taxable public works revenue bonds to construct and acquire additions, expansions, and improvements to wastewater collection, treatment, and disposal systems, including equipment and supplies. Representatives said in a press release: “The State Debt Commission has the authority to seek debt obligations and the collection of taxes from parishes, municipalities, special taxing districts, and other political sectors of the state. Applications are being accepted for borrowing by public entities that require approval from the State Debt Commission.” Project funds are borrowed from banks and other investors and repaid over time. These applications will be reviewed for feasibility and compliance with constitutional and statutory requirements, including the ability to repay debts. ” “This year, we achieved the highest state investment return in five years. At current rates, our investment income is estimated to exceed $450 million.” Louisiana’s general obligation bond rating was raised from AA- to AA in November 2018. S&P Global Ratings Lowers State Borrowing Costs In 2024, the State Bond Commission will fund capital projects. The state issued $608.05 million in miscellaneous bonds to support the state, and also issued $316.93 million in general obligation service bonds to refinance outstanding state bonds. Net present value savings of $25.5 million. In fiscal year 2024, the State Debt Commission approved 190 debt applications and 243 municipal elections totaling $6.75 billion. State Treasurer Fleming credited this success to “a team of dedicated professionals working tirelessly on behalf of the people of Louisiana.”
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