The Shreveport City Council Tuesday approved a list of capital improvement projects that will be financed with $79 million of general obligation bond proceeds.
The city issued $81.5 million of GO debt in July, the largest single bond sale in the northwest Louisiana city's history. The tranche was the first sale from a $175 million bond program approved by voters in April.
The city expects to issue the remaining authorization in two sales over the next two to three years, based on project needs.
Bond proceeds from the July sale will be used to make $22.5 million in sewer improvements, $14.1 million in water utility upgrades, $12.3 million in street projects, and $6.6 million in parks improvements.
The $175 million authorization will provide a total of $92.7 million for water and sewers, $44.3 million for streets and drainage, and $38 million for public safety and parks.
Shreveport will use $8 million of the proceeds to bring city facilities into compliance with the federal Americans with Disabilities Act.
Shreveport's $224 million of outstanding GO debt is rated A-plus by Standard & Poor's and A1 by Moody's Investors Service.
