Louisiana

Louisiana State Bond Commission set up an executive committee to find a way to replenish a capital outlay account without busted the cap on state tax debt.

Louisiana Tobacco Settlement Financing Corp. gave preliminary approval to proposal to refunding $823.1 million of bonds supported by the state's portion of the 1998 settlement with cigarette companies.

Historically low interest rates last year helped boost bond sales across the Southeast to $63 billion, an increase of 33% over 2011. The surge in debt was propelled by refundings.

Conservative lawmakers have filed a package of bills designed to put more controls over the writing of Louisiana's annual operating budget.

Two of Louisiana's Republican state representatives have filed suit in state district court contending that Gov. Bobby Jindal's operating budget for fiscal 2013 is unconstitutional.

Moody's Investors Service placed tobacco settlement revenue bonds of issuers in 17 states and two territories under review with direction uncertain because of legal settlement announced in December. The action affects $20.5 billion of debt.

Louisiana has delayed the single-tranche sale of up to $350 million of highway improvement revenue bonds, shifting to a plan for phased issues over three years.

Louisiana will upgrade more than 1,000 miles of state rural roads in 63 parishes with next week’s sale of $249.2 million of highway improvement bonds.

DALLAS -- Tuesday's $346 million negotiated refunding by the Louisiana Stadium & Exposition District is the final stage in the post-Katrina process to restore its financial viability.

DALLAS – Louisiana Gov. Bobby Jindal will propose a revised tax code that replaces billions of dollars from state income and business taxes with a higher sales tax when the Legislature convenes April 8.

The Louisiana Stadium & Exposition District's upcoming $343.3 million refunding for the Superdome for the Superdome has been rated A by Fitch Ratings and A3 by Moody's Investors Service.

Standard & Poor's last week revised its outlook to negative from stable on bonds issued by Louisiana's Jefferson Parish Hospital Service District No. 2 issued on behalf of East Jefferson General Hospital.

The structure of Louisiana's tax code results in lower state revenue collections whenever federal taxes go up, the state's top economists said last week.

State Bond Commission approved a $430 million fixed-rate negotiated refunding set for mid-January by the Louisiana Stadium and Exposition District.

The State Bond Commission considers a plan Thursday by Louisiana Stadium and Exposition District for a $430 million refunding in 2013.

Gov. Bobby Jindal ordered $166 million of cuts in the state's $25 billion budget for FY2013 last week after the revenue outlook fell by $129 million and by $207 million in FY2014.

Public-private partnerships will take over operations in 2013 at three Louisiana State University hospitals and another one under construction.

A state-owned hospital that Louisiana Gov. Bobby Jindal hoped to lease for $35 million is worth only $20.9 million at best, according to a new appraisal of the New Orleans Adolescent Hospital.

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.