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Hammond will save $355K with refinanced sales tax bonds

Posted: Thursday, December 18, 2014 | Views: 2238

Hammond will save $355K with refinanced sales tax bonds
BATON ROUGE - The State Bond Commission approved $307 million for projects statewide and saved taxpayers more than $10 million at its December 18 meeting—including approximately $355,000 saved for the City of Hammond through its refinancing of $13.5 million in sales tax bonds, according to State Treasurer John Kennedy.
 
"We have saved taxpayers millions of dollars in interest on local projects. We will continue to generate savings where we can," said Treasurer Kennedy. "We also approved borrowing that will increase the public library system's footprint, renovate a courthouse, help with the price of timber and improve an electric utility system and port."
 
Among the individual projects approved were:
 
-  Allen Parish, $1.5 million in Revenue Bonds for the Allen Parish Police Jury: for maintaining, constructing, improving, renovating and supporting the Allen Parish Library and its branches.
-  Allen Parish, $90 million in Solid Waste Disposal Facility Revenue Bonds for the Louisiana Public Facilities Authority's Southwest Louisiana Bioenergy Project: for constructing, installing, acquiring and equipping a wood pellet plant.
- Beauregard Parish, $9.995 million in Sales Tax Bonds, Series 2015, for the Beauregard Parish Police Jury: for constructing, expanding, improving and renovating the Beauregard Parish Courthouse.
- Bossier Parish, $94 million in Revenue Refunding Bonds for the Louisiana Community Development Authority's city of Bossier City project: saving taxpayers $4.8 million.
-  Caddo Parish, $7.8 million in General Obligation Refunding Bonds for the Caddo Parish Commission: saving taxpayers $266,000.
- Concordia Parish, $3.1 million in Sales Tax Refunding Bonds, Series 2015, for the Concordia Parish Police Jury, Sales Tax District No. 1: saving taxpayers $256,000.
-  Orleans Parish, $7 million in Revenue Refunding Bonds for the Health Education Authority of Louisiana: saving taxpayers $896,000.
- St. Charles Parish, $27 million in Water Revenue Refunding Bonds, for the St. Charles Parish Council, Consolidated Waterworks and Wastewater District No. 1: saving taxpayers $1.7 million.
-  St. Tammany Parish, $43 million in General Obligation School Refunding Bonds for the St. Tammany Parish School Board, Parishwide School District No. 12: saving taxpayers $1.8 million.
-  Tangipahoa Parish, $13.5 million in Sales Tax Refunding Bonds for the city of Hammond: saving taxpayers $355,000.
- Terrebonne Parish, $8.5 million in Certificates of Indebtedness, Series 2015, for the Terrebonne Port Commission: for (1) refunding Taxable Certificates of Indebtedness, Series 2009, Series 2012, Series 2013B and Certificates of Indebtedness, Series 2013A and (2) financing capital improvements for the port.  
- Winn Parish, $2 million in Electric Utility Revenue Bonds, 2015, for the city of Winnfield: for constructing and acquiring extensions and improving and making replacements to the electric utility system.
 
The Louisiana State Bond Commission meets monthly to review and approve applications from parishes, municipalities, special taxing districts, and other political subdivisions of the State requesting authority to incur debt. For more information, visit www.LATreasury.com. 
 
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