State Bond Commision
The State Bond Commission approved over $11 million for projects statewide and $1.7 million in savings by refinancing existing public debt at its February 16th meeting, according to State Treasurer John Kennedy.
"The Bond Commission approved funding for school and recreational facility improvements in Terrebonne Parish, bonds for the St. Bernard Parish Hospital Service District, as well as statewide approvals for various infrastructure and capital improvement projects," said Treasurer Kennedy. "We also saved the taxpayers millions by signing off on the refinancing of public debt for eight local projects. Five of these refinancings were for Calcasieu Parish, bringing in $812,000 in savings for that parish."
Among the individual projects the Bond Commission approved are:
• Grant Parish, Village of Georgetown, $310,000 in Certificates of Indebtedness: For improvements and renovation of a public building.
• Iberville Parish, Town of Maringouin, DEQ Project, $475,000 in Sewer Revenue Bonds: For acquiring, constructing and installing improvements, extensions and additions to the wastewater collection, treatment and disposal system.
• Jackson Parish, Town of Jonesboro, DEQ Project, $1,836,000 in Sewer Revenue Bonds: For acquiring, constructing and installing improvements, extensions and additions to wastewater collection, treatment and disposal system.
• Lafayette Parish, Lafayette Parish School Board, $1,460,775 in QSCB ARRA Bonds: For construction, rehabilitation or repair of public school facilities, including equipping of school facilities.
• St. Bernard Parish, Hospital Service District, $5,515,000 in Taxable Limited Tax Bonds: For constructing, equipping, maintaining, and operating hospital facilities.
• Terrebonne Parish, Terrebonne Parish School Board: $1,460,775 in QSCB ARRA Bonds: For construction, rehabilitation or repair of public school facilities, including equipping of school facilities.
• Terrebonne Parish, Recreation District No. 6, $180,000 in Limited Tax Certificates of Indebtedness: For constructing and acquiring improvements to recreational facilities, including purchasing of equipment.
The Commission also approved over $1.7 million in savings for local governments by refinancing existing debts. Among the refinancings approved were:
• Calcasieu Parish, Fire Protection District No. 1, Ward 2, $63,000 in savings.
• Calcasieu Parish, Waterworks District No. 11, Ward 4 and 7, Ward 2, $103,000 in savings.
• Calcasieu Parish, Waterworks District No. 14, Ward 5, $61,000 in savings.
• Calcasieu Parish, Calcasieu Parish School Board, $51,000 in savings.
• Calcasieu Parish, Calcasieu Parish School Board, School District No. 30, $534,000 in savings.
• Natchitoches Parish, Louisiana Community Development Authority, Outpatient Medical Center, Inc. Project, $51,000 in savings.
• St. Charles Parish, St. Charles Parish Council, $563,000 in savings.
• St. Tammany Parish, St. Tammany Parish School Board, Parishwide School District No. 12, $299,000 in savings.
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.
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Unemployment Benefits and Payroll Tax Cuts
The U.S. House of Representatives today approved a bipartisan deal that extends the payroll tax cut and unemployment benefits for the rest of the year.
The measure, which also avoids cutting Medicare fees for doctors for the remainder of the year, now goes to the Senate.
Without congressional action, all three measures are set to expire at the end of February. (From CNN.com)
Congressman Cedric Richmond and Congressman Steve Scalise agreeing on something? Well, this is a press release sent out by Congressman Richmond's Office on Thursday:
Today, Congressman Cedric Richmond (LA-02) and Congressman Steve Scalise (LA-01) were successful in securing the adoption of amendment to H.R. 3408, the “Protecting Investment in Oil Shale the Next Generation of Environmental, Energy, and Resource Security Act,” that would dedicate 80 percent of the Clean Water Act penalties associated with the Deepwater Horizon disaster to the Gulf States. The amendment passed by voice vote.
After debate on the amendment, Rep. Cedric Richmond (D-LA) released the following statement on the legislative victory:
“This amendment is an important part of what will continue to be a strong, bipartisan effort to bring 80 percent of the fines from the Deepwater Horizon disaster to the Gulf states,” said Rep. Cedric Richmond. “There is no question about whether the Gulf Coast will be restored. Because of the dire national security and economic impacts, it must happen. The Gulf States only want the means to help themselves, but delaying these funds will only make this critical restoration more expensive.”
H.R. 3408 passed the full House of Representatives by a vote of 237 – 187. It will be sent to the U.S. Senate for consideration
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