State Bond Commission approves $60.4 million for Southwest Louisiana including Basile

BATON ROUGE, LA – At the July 18, meeting of the State Bond Commission, $60.4 million in funding was approved for projects in southwest Louisiana, according to State Treasurer John Kennedy.

“We also refinanced $200 million in gulf tax credit bonds to achieve a variable rate to ward off potential problems in the auction rate market,” said Treasurer Kennedy. “The state’s recent bond rating upgrade resulted in a tremendous amount of interest in the bond sale, especially from large, institutional investors.”

The Bond Commission approved:

•A $136,000 loan for Calcasieu Parish, City of Sulphur (All Star Pontiac-GMC Truck Inc.) to reimburse a portion of the cost of the newly-constructed All Star Pontiac-GMC Truck dealership.

•A $2 million loan for the Iberia Parish Law Enforcement District for current expenses.

•A $260,000 loan for the District Five Road and Public Works Commission of St. Landry Parish for road, bridge and drainage improvements.

•$5.49 million in bonds (preliminary approval) for the St. Landry Parish, Town of Leonville for waterworks system improvements.

•$3.025 million in bonds for the Acadia Parish Police Jury, Acadia Parish Sales Tax District to refinance debt, saving $660,017.

•$4.25 million in bonds for the Iberia Parish Law Enforcement District for law enforcement facilities and equipment.

•$500,000 in bonds for St. Mary Parish, Town of Baldwin to finance a community center and related equipment.

•$715,000 in bonds for the Louisiana Community Development Authority (Town of Basile, Parish of Evangeline Project) for public works and economic development projects.

•$18 million in bonds for the Louisiana Public Facilities Authority (Embers and Wilshire Villa Apartments Project) for acquiring and renovating the Embers and Wilshire Villa apartment complexes.

•$26 million in bonds for the Lafayette Public Trust Financing Authority (Mortgage-Backed Securities Program) to provide housing for low and moderate income families.