Louisiana

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.

The Louisiana Legislature has significant leeway on when it has to reimburse the state’s rainy-day fund, under a ruling last week from Judge Kay Bates in favor of the state.

Adding toll lanes to the proposals for upgrading portions of U.S. 90 to Interstate standards in the Lafayette area could provide up to half of the financing, according to a new traffic study.

A Louisiana panel studying the tolls on twin state-toll bridges across the Mississippi River in New Orleans has cautioned against removing the fees.

DALLAS — Louisiana lawmakers learned Friday that the state could face a gap between spending and revenue next year totaling $895 million.

The Louisiana State Bond Commission approved $11 million of taxable revenue bonds for a high school military academy in New Orleans at its monthly meeting Thursday.

It’s time to get serious about completing Interstate 49 South in Louisiana, and a public-private partnership might be part of the financial solution to the $5.2 billion effort, Treasurer John Kennedy said last week in Lafayette.

More people moved into Louisiana over the last two years than moved out, the U.S. Census said last week in a report on population patterns, marking a positive growth trend after more than 20 years of outflow.

The Louisiana Department of Revenue this week said that collections in the first four months of fiscal 2012 totaled $2.36 billion, up $96 million from the same period in fiscal 2011.

The trustees of the Caddo Parish Parishwide School District are scheduled to vote Jan. 17 on whether to call an April 21 election on a $133.8 million general obligation bond plan.

Louisiana Attorney General James Caldwell filed a federal suit last week in the District of Columbia to overturn a change in offshore oil royalty rules that could require the state to repay royalties and cut its anticipated future royalties.