Louisiana Bond Commission OKs $650M For GO Refunding Bonds

DeSue, Tedra
December 2004
Bond Buyer;12/20/2004, Vol. 350 Issue 32033, p3
Trade Publication
The article reports that the Louisiana State Bond Commission met on Thursday and approved the issuance by the state of $650 million of general obligation refunding bonds, as well as several other bond requests from local and governmental issuers. Officials are considering selling the bonds in January 2005. The state is hoping to achieve 5% on the refunding bonds. A second state level request approved on Thursday was solicitation of underwriters and bond counsel firms for an anticipated $500 million deal for transportation projects. The projects are part of the state Department of Transportation and Development program Transportation Infrastructure Model for Economic Development (TIMED). It is designed to allow the state to cut the number of years it would take to fund the projects on a pay-as-you-go basis. Officials say many of the projects could be done in 10 years instead of 30 years. Officials are trying to get the deal done by the spring, and it would be the first time the state has sold bonds for the program since 2002. Prior to that deal, no TIMED debt had been sold since 1990.


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