State Treasurer John M. Schroder today announced a refinancing of the state’s General Obligation Bonds that will save taxpayers $43.2 million in interest. Annual state budget savings will range from $3.2 million to $3.4 million from 2022 to 2033. For 2021, state budget savings are expected to be $2.4 million.
“General obligation bonds are money we’ve already borrowed to fund construction projects across Louisiana. By lowering the interest rate, we saved taxpayers a significant amount of money,” said Treasurer Schroder. “This is a smart way to lower costs and create budget savings.”