Projects inthe Baton Rouge area will benefit from $63.5 million in loans and bond issuesapproved by the LouisianaState Bond Commission, according to State TreasurerJohn Kennedy.
“The BondCommission is working to assist local officials with funding that will providethe improvements and sustained basic services they need to continue theireconomic growth,” Kennedy said.
Some of theloans and bonds approved by the Bond Commission in Baton Rouge include $7.5million for the East Baton Rouge Parish School Board to finance currentoperations and a $6 million dollar loan for the East Baton Rouge Parish LawEnforcement District to finance current expenses. A bond to help make fundsavailable for lending institutions to provide mortgage loans to first-timehomebuyers was also approved by the commission in the amount of $25 milliondollars, for the East Baton Rouge Mortgage Finance Authority.
The BondCommission conditionally approved a lease agreement to be entered into, amongthe Board of Elementary and Secondary Education, Johnson Controls, Inc. and theLouisiana Public Facilities Authority to acquire and install energy equipmentat the Louisiana School for the Deaf in Baton Rouge.
“Theseapprovals are good news for the state and are proof that we are puttingtaxpayers’ money to work,” Kennedy said.
According tothe Louisiana Department of Treasury, in 2003 Southern University Baton Rouge,Shreveport and New Orleans campuses received $150 million in revenue bonds fromthe Louisiana Public Facility Authority. The bonds were given for financing theacquisition, design, construction, furnishing and/or equipping of studenthousing and student auxiliary projects and the renovation of certain athleticfacilities.
EdwardJackson, Southern University Chancellor said he is very pleased that the bondspassed.
“I amextremely happy that the bonds passed,” he said. “The students are the directbeneficiaries of all the projects.”
With plansunderway for more Baton Rouge projects, Kennedy said, “As always, we willcontinue to help with these worthwhile projects.”
For moreinformation or for Bond Commission agendas and meeting dates, visitwww.latreasury.com
