BATON ROUGE, La. — On Wednesday, June 11, the Louisiana State Bond Commission approved election applications and funding requests for several significant infrastructure and development projects across the state.
Parishes with approved election applications include East Baton Rouge, East Feliciana, Lafayette, Madison, Orleans, and St. Landry (City of Opelousas). While the approval does not serve as an endorsement, it is required before the Secretary of State can place certain propositions on the ballot.
In addition to election matters, the Bond Commission authorized funding for multiple initiatives aimed at enhancing local infrastructure, housing, education, and economic development.
Louisiana State Treasurer John Fleming, M.D., who serves as chairman of the commission, emphasized the importance of fiscal responsibility.
“Our Treasury Department thoroughly examines every election application and every funding request to ensure it meets the technical requirements and safeguards taxpayer funds,” said Treasurer Fleming. “I am proud of our department’s dedication and commitment to serving the people of Louisiana.”
Approved funding includes:
- City of Marksville (Avoyelles Parish): $400,000 in Limited Tax Bonds for capital improvements, including the relocation of water lines.
- City of Lafayette (Lafayette Parish): $450 million in Refunding Bonds to refinance debt, resulting in estimated gross savings of $1.8 million.
- Louisiana Community Development Authority (St. Bernard Parish GOMESA Project): $9 million in Revenue Bonds to support qualified coastal restoration and preservation projects.
- Louisiana Housing Corporation: $125 million in Single Family Mortgage Revenue Bonds to support first mortgage loans, home improvement loans, and rehabilitation loans for eligible homebuyers.
- Louisiana Public Facilities Authority (South Quad IV Project): Intent to issue $215 million in Revenue Bonds for the development of student housing facilities, infrastructure, and future phases of a comprehensive student support plan.
- Sabine Parish School Board, Sales Tax District No. 2: $240,000 in Sales Tax Bonds to improve and maintain public school buildings and facilities.
- Houma-Terrebonne Airport Commission (Terrebonne Parish): $6 million in Revenue Bonds for improvements including new hangars, terminal facilities, and related infrastructure.
The Bond Commission reviews applications from local governments and districts seeking authority to incur debt or levy taxes. Each application is assessed for compliance with state laws and financial feasibility.
For fiscal year 2025, the commission has issued $351.4 million in General Obligation bonds to support capital projects and $982.17 million in various bonds to refinance existing debt. These efforts have yielded $116.8 million in projected savings through 2044. In total, the commission has approved 193 debt applications totaling $7.09 billion and authorized 220 local government elections.
Treasurer Fleming credited the accomplishments to “our team of committed professionals who work tirelessly to serve the taxpayers of Louisiana.”