Commission approves money to rebuild damaged Baker schools
BATON ROUGE - The Louisiana Bond Commission approved $310 million for state projects and approved more than $12.5 million in interest savings Thursday, according to State Treasurer John Kennedy.
Baton Rouge area projects include bonds for the Baker School District to finance rebuilding schools damaged by August's historic flooding.
"We approved funding for a number of important community projects," said Treasurer Kennedy. "Pineville will build a fire station. Calcasieu Parish will improve its waterworks system. Baker will rebuild its high school after the devastating floods."
Among the individual projects approved were:
- Ascension Parish, $9.5 million in General Obligation School Refunding Bonds for the School Board, Parishwide School District: saving taxpayers $352,215.
- East Baton Rouge Parish, $1 million in Hotel Occupancy Tax Bonds for the city of Zachary: for (1) infrastructure improvements to the Zachary Youth Park and (2) funding of other recreational opportunities.
- East Baton Rouge Parish, $50,000,000 in Commercial Paper Revenue Notes and $50,000,000 in Permanent Pass-Through Notes for the Louisiana Housing Corporation's Mortgage Backed Securities Pass-Through Program: for financing loans for low-income first time home buyers receiving closing costs assistance and soft second HOME Program funds.
- East Baton Rouge Parish, $12 million in Revenue Bonds for the Louisiana Community Development Authority's city of Baker School District Project: for (1) financing the demolition, construction, reconstruction, renovation and improvement of flood damaged schools within the district, including all furnishings, fixtures and facilities incidental or necessary; (2) funding capitalized interest, if necessary and (3) funding a debt service reserve fund, if necessary.
- St. Helena Parish, $500,000 in Limited Tax Bonds for Hospital Service District No. 1: for (1) constructing and improving medical facilities, (2) purchasing furniture, fixtures, and equipment and (3) maintaining and operating medical facilities.
- Tangipahoa Parish, $6.4 million in Water Revenue Refunding Bonds for the Water District: saving taxpayers $537,003.
For more information, visit www.LATreasury.com.