Louisiana

The New Orleans Sewerage and Water Board last week adopted a capital improvement plan that calls for more than $3 billion of projects through 2021.

Louisiana’s chief legislative economist, Greg Albrecht, told the Baton Rouge Press Club this week that more revenue problems could lie ahead.

Louisiana Gov. Bobby Jindal issued an executive order Dec. 16 to reduce general fund spending by $251 million through fiscal 2012.

The Federal Emergency Management Agency last week awarded more than $52 million of new funding to New Orleans to repair neighborhood streets in areas of the city most severely damaged by Hurricane Katrina in 2005.

The New Orleans City Council last week adopted a $496.7 million operating budget for 2012 that keeps the city’s property tax rate unchanged despite an increase in assessed valuations this year.

Louisiana Gov. Bobby Jindal will be sworn in for a second four-year term Jan. 9 at an inauguration he said would be smaller than the first one.

The trustees of the West Feliciana Parish School Board will consider a plan next month to call a property tax renewal election in April 2012.

DALLAS - The Louisiana State Bond Commission gave its approval Thursday to a plan by New Orleans to avoid a budget shortfall in 2012 with a $16.5 million refunding.

Louisiana's entire congressional delegation and the Mississippi treasurer are urging the U.S. Treasury Department and the Internal Revenue Service to issue guidance allowing Gulf Opportunity Zone bonds to be issued after the year ends to refund previously issued GO Zone bonds on a tax-exempt basis.

The Federal Emergency Management Agency said Monday it would send another $390 million of hazard mitigation funds to Louisiana parishes most affected by hurricanes Katrina and Rita in 2005.

Trustees of the Bossier Parish School Board will meet Thursday night to consider a facilities assessment report in preparation for setting a general obligation bond election in spring 2013.

DALLAS - The South Louisiana Port Commission will expand cargo-handling capabilities at the Port of South Louisiana with a new pier financed by $8 million of port revenue bonds.

Moody’s Investors Service last week placed $699 million of New Orleans’ municipal debt on review for possible downgrades due to “deteriorated financial performance.”

DALLAS - A vacant, hurricane-damaged residential tower in New Orleans will be rehabilitated with proceeds from Wednesday's negotiated sale of $7.4 million of multifamily revenue bonds issued by Louisiana Housing Finance Agency.

The Louisiana State Bond Commission will consider a plan Nov. 17 to refinance some of New Orleans’ debt so the city can push into 2013 a total of $15.5 million of debt service now due in 2012.

DALLAS - Repairing and replacing New Orleans' damaged and obsolete water utility infrastructure will require more than $1 billion of new revenue debt by 2020 and a doubling of customer rates to finance and operate the water, sewer and drainage networks, a report warns.

The Louisiana State Bond Commission last week approved $300 million of funding for capital improvement projects on the Legislature’s capital outlay list.

Bobby Jindal was re-elected to a second four-year term as Louisiana’s governor on Oct. 22, carrying all 64 parishes and collecting 673,000 of the 1.02 million votes cast in the open primary.

Only 31% of voters approved a $561 million bond proposal by the Lafayette Parish School Board on Oct. 22. The final tally was 29,557 to 13,264.

Louisiana Gov. Bobby Jindal is expected to be re-elected to his second four-year term Saturday in the state’s open primary voting.