Louisiana

New Orleans will seek approval of plan to refund up to $170 million of general obligation bonds at Thursday's meeting of the Louisiana State Bond Commission.

DALLAS — Louisiana will continue its 2013 refunding campaign next week with a planned $580.7 million negotiated deal as the state seeks to lower debt service costs in fiscal 2013 and beyond.

The Louisiana Department of Highways and Economic Development will produce a report by the end of 2012 on whether tolls can help finance construction of the final 136 miles of Interstate Highway 49 from Lafayette to New Orleans.

DALLAS — The New Orleans City Council gave preliminary approval Thursday to two debt refunding proposals that could total $370 million if the market cooperates.

The Louisiana House on Monday approved $3.4 billion of aid to local education in fiscal 2013 by a narrow, disputed vote in the final hours of the 2012 session.

DALLAS — The Louisiana House met in an unusual Sunday session to adopt a $25.6 billion budget for fiscal 2013 that includes $272 million of one-time revenue to balance the spending plan.

DALLAS — The Louisiana Senate unanimously adopted a fiscal 2013 budget Thursday that relies on non-recurring revenues and proceeds from state property sales to restore more than $300 million of spending taken out earlier by the House.

The New Orleans City Council’s budget committee last week approved a plan to refinance an estimated $310 million of outstanding debt.

DALLAS — The Louisiana Senate Finance Committee on Monday restored $340 million of budgets cuts made by the House in the $25.5 billion budget for fiscal 2013.

Louisiana Secretary of Corrections James LeBlanc said Monday that proposed spending cuts required by the House-approved budget for fiscal 2013 could force the closure of three prisons and the cancellation of a monitoring program for sex offenders.

Ascension Parish, La., may ask voters in November to approve an increase in the parish sales tax to support $80 million of revenue bonds for road projects.

DALLAS — Louisiana Treasurer John N. Kennedy criticized Gov. Bobby Jindal Tuesday for using scare tactics in a dispute over the House’s refusal to appropriate non-recurring revenues in the fiscal 2013 budget.

A bill authorizing $325 million of revenue bonds to upgrade Louisiana’s rural roads was sent to Gov. Bobby Jindal last week without receiving a single negative vote as it passed through the Legislature.

DALLAS — Top Louisiana officials said Monday that higher education and public health would be devastated by fiscal 2013 spending cuts mandated by a budget passed late last week by the House.

DALLAS — Debate on Louisiana's budget for fiscal 2013 hit an impasse Thursday as conservative Republicans objected to fellow GOP Gov. Bobby Jindal's plan to use $268 million of one-time revenue to balance the $25 billion spending plan.

The St. Bernard Parish, La., School Board will receive a final payment of $148.3 million for rebuilding efforts from the Federal Emergency Management Agency.

Louisiana saved more than $100 million in debt service costs with last week’s $803 million refunding of gasoline and fuels tax revenue bonds, said state Treasurer John Kennedy.

DALLAS — The Louisiana House Appropriations Committee late Tuesday passed a $25 billion budget for fiscal 2013, but had to balance the spending with $340 million of one-time money and cuts to services.

Trustees of the French Quarter Management District voted last week to oppose a legislative effort to establish a hospitality district encompassing the New Orleans neighborhood with the authority to issue bonds and create sub-districts for projects funded with tax-increment financing.

DALLAS — Louisiana spent $72 million over 14 years on a failed syrup mill while receiving only scant returns from its investment, including $45 million of revenue bonds issued in 2004 by the Louisiana Agricultural Finance Authority.