Louisiana

Including more poor residents in Louisiana’s Medicaid health-care program would cost the state almost $4 billion over 10 years, the head of the state health department said.

Louisiana will use proceeds from $110 million of bonds to build a two-mile segment of an interstate highway project that will link Midwest industries to Gulf ports.

The Louisiana State Bond Commission gave final approval Nov. 15 to a negotiated sale of $350 million of highway improvement bonds to be sold in early January.

The New Orleans Sewerage & Water Board must be reformed before rates are raised to support $1 billion of revenue debt needed for system renewal, Mayor Mitch Landrieu said Monday.

Ascension Parish, La. voters handily defeated a proposal to increase the local sales tax to support a bond-funded plan to upgrade roads.

New Orleans City Council began its review of Mayor Mitch Landrieu’s proposed budget for 2013 with a slate of non-controversial agency requests.

New Orleans Mayor Mitch Landrieu delivered a proposed budget along with a warning that state spending cuts to higher education and health care will hinder the city’s return to prosperity.

New Orleans will see a slight increase in general fund revenues to $491.4 million next year, but not enough to end a spending cut, Deputy Mayor Andy Kopplin said.

Voters in unincorporated Ascension Parish, La., will vote on a 0.5% sales tax that would support $80 million of revenue bonds for road improvements.

The Louisiana will sell $350 million of state road bonds at one time rather than spreading the deal into three tranches, on the advice of Treasurer John Kennedy.

DALLAS – Louisiana State Bond Commission has given preliminary approval for $450 million of fixed-rate bonds to refund $294.3 million of bonds issued in 2006 for repairs to the Superdome in New Orleans.

The Internal Revenue Service is auditing $110.4 million of communication system revenue bonds that were issued in 2007 by Lafayette, La. to finance startup costs of the city-owned utility that sells television, Internet and telephone services to residents.

The Louisiana State Bond Commission will consider options by the Louisiana Stadium and Exposition District to refinance $294 million of variable-rate debt and other obligations for the Superdome in New Orleans.

New Orleans will remove unsecured taxable variable-rate pension debt seen as dragging down the city's credit quality at the cost of a huge swap termination payout to PaineWebber Capital Services.

Louisiana State Representative Jerome "Dee" Richard has initiated the process to call a special session to reconsider Gov. Bobby Jindal's recent budget cuts.

The Louisiana State Bond Commission wants underwriters selling $350 million of state highway revenue bonds to develop a structure to take advantage of the market's current low interest rates.

The Louisiana State Bond Commission will select underwriters and bond counsel for $334 million of revenue bonds backed by the state highway improvement fund.

Moody's Investors Service does not anticipate any disruption in debt-service payments by issuers in Louisiana and Mississippi affected by Hurricane Isaac.

Commissioner of Administration Paul Rainwater will outline a plan to hire a debt collection consultant to advise Louisiana on how to collect its unpaid receivables.

Trustees of Lafayette Parish School Board, La. will consider a spending plan for the proceeds from a $30 million general obligation bond issue.