Louisiana Bond Commission OKs $465 Million in Debt

DeSue, Tedra
June 2003
Bond Buyer;6/20/2003, Vol. 344 Issue 31661, p3
Trade Publication
The Louisiana State Bond Commission signed off on about $465 million of debt requests at its monthly meeting on June 19, 2003, including a $325 million deal to continue expanding the convention center in New Orleans, Louisiana. The Ernest N. Morial New Orleans Exhibition Hall Authority will issue the convention center bonds. The deal was not only the largest request that the commission had to consider, but will also be the largest deal the authority has done so far for the $450 million expansion effort. Funds appropriated to the authority by the state and funds from the New Orleans Tourism Marketing Corp. will also be used to pay debt service. The commission also approved a plan presented by Government Finance Associates Inc., the state's financial adviser, that will allow the state to defease almost $100 million of general obligation bonds for debt service savings of about $1.8 million.


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