Louisiana

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.

Revenue anticipation notes are an option for Louisiana local governments to pay costs from Hurricane Isaac until federal emergency funds begin flowing, State Treasurer John Kennedy said.

Municipal bond issuance in the Southeast during the first half of this year was up by 57% to $34 billion - nearly the same amount that was lost between 2011 and 2010.

The Retired State Employees Association of Louisiana filed a suit in state court Aug. 16 to stop the implementation of a new state pension plan proposed by Gov. Bobby Jindal and passed by the 2012 Legislature.

The number of state boards and commissions in Louisiana has fallen to a total of 492 entities after peaking at 513 in 2004, legislative auditor Daryl Purpera said Aug. 20 in a report to lawmakers.

Louisiana State Bond Commission on Thursday approved a $40 million refunding of parking garage revenue debt at Louis Armstrong New Orleans International Airport.

An impending refunding of parking garage debt is a sign that revitalization is a reality at Louis Armstrong New Orleans International Airport as passenger levels increase to near pre-hurricane days at the city-owned airport.

The Louisiana State Bond Commission will review the first tranche from a new state bond program to finance rural road upgrades.

Louisiana collected $721.9 million in state taxes in June, up from $695 million in May, according to the latest monthly report from the Department of Revenue.

Louisiana must move quickly to avoid damage to its Medicaid program resulting from a sooner-than-expected end to federal assistance, state Treasurer John Kennedy said last week in outlining a 14-step plan.

Louisiana needs to do a better job in tracking hundreds of tax exemptions and credits, the president of the Public Affairs Research Council of Louisiana Inc., said.