Louisiana

The Louisiana Stadium and Exposition District is asking Louisiana lawmakers for $60 million of capital construction funding over two years for upgrades required under a new agreement between the state and the New Orleans Hornets basketball team.

Louisiana State University supervisors will consider a request Friday for $100 million of revenue bonds to add seats at Tiger Stadium in Baton Rouge.

DALLAS — A revised revenue outlook will require Louisiana to cut spending by $210.5 million through June and reduces the money available for lawmakers to appropriate in fiscal 2013 by almost $304 million.

The Louisiana Senate Retirement Committee adopted two key components of Gov. Bobby Jindal’s pension reform plan Monday despite objections from opponents who said some aspects of the measures were unconstitutional.

A bill proposed by Louisiana Senate President John Alario, R-Westwego, would allow an ailing member of the Revenue Estimating Conference to designate an interim stand-in, and avoid a potential delay in revenue estimates needed to develop the state budget.

Preliminary, unaudited figures indicate New Orleans balanced its budget in 2011, according to chief administrative officer Andy Kopplin.

A proposal to issue $325 million of revenue bonds to upgrade and repair state rural roads was approved by the Louisiana House Tuesday without a dissenting vote.

DALLAS — The Louisiana State Bond Commission approved expanded parameters for a planned refunding of gas and fuels-tax bonds to a maximum of $850 million from the $400 million approved two weeks ago.

The Lafayette Metropolitan Expressway Commission will study whether tolls on a six-mile stretch of Interstate 49 will support construction of the portion of the highway in Lafayette.

Completing Interstate 49 through a public-private partnership is one of the five state goals that were outlined last week by Louisiana Treasurer John Kennedy.

DALLAS — Louisiana avoided paying swap termination fees totaling more than $66 million on second-lien gas and fuels tax bonds with replacement hedge agreements approved Friday by a special subcommittee of the State Bond Commission.

The latest in a series of grants from the Federal Emergency Management Agency will provide $68 million to New Orleans for street repairs.

DALLAS — The Louisiana State Bond Commission named Citi as senior managing underwriter for a negotiated sale of $400 million of state gasoline and fuels-tax revenue refunding bonds.

Louisiana companies and individuals cut their state tax bills by almost $5 billion from 2005 through 2010 by claiming coverage under the state’s 464 tax credits and exemptions, the Legislative Auditor’s Office said in a new report issued March 5.

DALLAS — Louisiana will take a bite out of its $1.8 billion capital outlay backlog with Thursday's competitive sale of $400 million of new-money general obligation bonds.

The number of Louisiana state employees has fallen by more than 6,400 workers in the first two years of Gov. Bobby Jindal’s administration.

Louisiana Gov. Bobby Jindal will ask the Legislature to authorize $325 million of bonds to resurface and maintain almost 1,000 miles of state rural roads not eligible for federal matching grants.

DALLAS — The Louisiana Bond Commission will meet in special session March 1 for the competitive sales of $449 million of state general obligation bonds.

Louisiana Gov. Bobby Jindal’s proposed executive budget for fiscal 2013 calls for total spending of $25.5 billion, down $61 million from the fiscal 2012 spending plan.

The underfunded retirement system that provides pensions for police officers of the Port of New Orleans could run out of money in 2020, the Louisiana legislative auditor’s office said in a report issued Monday. It said the Harbor Police Retirement System was only 56% funded as of fiscal 2010, with benefit liabilities of $21.3 million and assets of $11.8 million.