The State Bond Commission approved public debt refinancings Thursday that saved more than $32 million across the state, including $15 million for Lafayette Parish alone.
The State Bond Commission Thursday approved more than $32 million in savings by refinancing existing public debt; it also approved bonds to finance $298 million in projects statewide.
"We saved the taxpayers $32 million by signing off on the refinancing of public debt in 10 parishes, including over $15 million in Lafayette Parish," State Treasurer John Kennedy said in a prepared announcement. "In addition, the Bond Commission gave approval for bonds to finance hospital improvements in LaSalle, East Baton Rouge, Lafayette, Ouachita and Ascension parishes, as well as various infrastructure and capital improvement projects across the state."
Among the Acadiana area individual projects the Bond Commission approved was $88 million in electric revenue bonds for the Lafayette Public Power Authority for a reserve fund, and improvements, equipment and fuel storage for the Rodemacher Unit No. 2 fossil fuel steam electric generating plant. The commissiona also approved $374,000 in Water Revenue Bonds for Waterworks District No. 5 in St. Landry Parish to construct a waterworks system.
It also approved hospital revenue bonds for capital improvements at Our Lady of Lourdes Regional Medical Center.
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 seeking approval of bonds to finance public projects.