Louisiana

Louisiana prices the first of two GO bond deals Thursday with unanswered questions about the state budget, but MMA director Matt Fabian says the issue is unlikely to impact pricing because of the state's strong legal protections for bondholders.

Louisiana Gov. Bobby Jindal's administration asked legislators to urge the state treasurer to sign off on bond documents amid a dispute over budget numbers that has blocked the state from going through with a planned bond issue.

South Florida's Broward County School District wants voters to OK $800 million in GO bonds on Nov. 4, which leads a slate of referendums on ballots across the Southeast.

It could be January before Louisiana determines how much of a fund balance is available for the next budget, state legislators learned Friday. The uncertainty is delaying state bond sales.

Standard & Poor's lowered its ratings to A-plus from AA-minus on Pineville, La.'s utility revenue bonds due to "sizeable" budget transfers.

Louisiana will sell $675 million of bonds next month if a dispute over a year-end surplus clears up and ratings can be obtained.

The Louisiana Transportation Funding Task Force plans to ask candidates for governor about their positions on new ways to fund roads and bridges.

The Louisiana Transportation Funding Task Force holds its first meeting Sept. 10 to begin studying new ways of funding road and bridge projects.

Southeast municipal bond issuers sold $21.78 billion of debt in the first six months of the year, a 31.4% decline driven by fewer taxable and refunding deals.

Louisiana Treasurer John Kennedy sent a letter Aug. 11 telling the state attorney that he is not pleased with a federal housing discrimination settlement.

Louisiana State Bond Commission and Department of Justice attorneys entered into a settlement of the government's housing discrimination lawsuit even though the commission's chairman claims it was not authorized by the full SBC..

Financial advisor Calvin Grigsby of Grigsby & Associates filed a federal lawsuit against the Shreveport, La., City Council after the city sued his firm accusing him of overbilling financial advisory fees.

Louisiana issuers should take advantage of the SEC's initiative to self-report continuing disclosure lapses, the State Bond Commission urged Thursday.

A federal judge agreed to reopen a Department of Justice housing discrimination suit against the Louisiana State Bond Commission.

Louisiana Treasurer John Kennedy claims the state repaid a loan from future collections, and that kind of budgeting is similar to “kiting” checks” if it becomes a practice.

For the first time in many years, the Sewerage and Water Board of New Orleans returned to the bond market to issue $262.5 million of combined refunding and revenue bonds.

The Louisiana Bond Commission gave final approval to defeasing $210 million of general obligation bonds to provide the state with cash flow relief in fiscal 2015.

The Louisiana State Bond Commission plans to hire disclosure counsel to assist in determining if the state complied with continuing disclosure requirements as it weighs the SEC's MCDC initiative.

The Louisiana State Bond Commission has issued a request for proposals for a financial advisor. Proposals are due from interested firms July 10.

Louisiana Gov. Bobby Jindal has signed a bill requiring bond issuers to abide by continuing disclosure agreements, and requiring auditors to check for compliance.