Louisiana

DALLAS — The board set up to finance and operate a new state teaching hospital in New Orleans has withdrawn its request for federal enhancement of revenue bonds needed to build the $1.2 billion University Medical Center.

Shreveport, La., has scheduled the single largest bond issue in the city's history. Next week's sale of $81.5 million of general obligation debt will be the first tranche from a $175 million bond authorization.

Louisiana will set up a 10-member task force and a five-member advisory council to study a proposal to remove the tolls from two bridges over the Mississippi River in downtown New Orleans.

DALLAS - Louisiana lawmakers gave final approval late Tuesday to a $25 billion budget for fiscal 2012 that relies on more than $200 million of fund transfers and reallocations to balance next year's spending plan.

A $561 million general obligation bond program to fund long-term maintenance efforts presented last week to the Lafayette Parish School Board would require a 20-year, 2-mill increase in the property tax. The trustees have until Wednesday to set a tax election for Oct. 22. They could delay the election until Nov. 19.

New Orleans Mayor Mitch Landrieu said Monday the state should stick with the current plan to build a $1.2 billion, 424-bed hospital in the city. Construction financing for the University Medical Center includes $407 million of hospital revenue bonds.

DALLAS - The Louisiana State Bond Commission will meet July 21 with four firms seeking to become the state's next financial adviser.

A bill to phase out Lousiana's personal income tax over 10 years at a cost of more than $5 billion a year of lost revenue was approved Monday by the House Committee on Ways and Means.

DALLAS - Louisiana Gov. Bobby Jindal Monday asked for consideration of an alternative, no-debt financial plan for a proposed $1.2 billion state hospital in New Orleans.

DALLAS - A proposal to scrap plans for a $1.2 billion state hospital in New Orleans in favor of a smaller, less-expensive project was outlined Thursday at a joint news conference by U.S. Sen. David Vitter, Louisiana Treasurer John Kennedy, and House Speaker Jim Tucker.

The proposed $1.2 billion University Medical Center in New Orleans may be built with the proceeds from bonds supported solely by hospital revenue if federal mortgage insurance is denied for the debt.

DALLAS — The proposed $1.2 billion University Medical Center hospital in New Orleans will require an annual subsidy from Louisiana of $100 million, according to a new financial analysis of the 424-bed facility.

DALLAS — Debate on Louisiana’s proposed $25 billion budget for fiscal 2012 was halted Wednesday in the House when lawmakers failed to reach consensus on how to balance the spending plan.

DALLAS — A $77 million revenue gap in Louisiana’s current budget was acknowledged Wednesday by a new financial forecast adopted by the Revenue Estimating Conference.

Unveiling of the latest bond proposal by East Baton Rouge Parish Mayor-President Melvin “Kip” Holden was delayed last week because Public Works personnel were busy preparing for a Mississippi River flood.

DALLAS — A Louisiana bill proposing $3 billion of revenue bonds for state road projects died in a legislative committee Tuesday when its sponsor voluntarily deferred it due to opposition from lawmakers and Gov. Bobby Jindal. The bill would have raised the state’s private-vehicle registration fee to $30 from $10 to support up to $3 billion of bonds for 42 projects in 27 parishes.

DALLAS — Louisiana lawmakers will consider a resolution this week to require legislative approval of a plan to issue revenue bonds to finance a proposed new state hospital in New Orleans.

DALLAS — Standard & Poor’s raised its rating Wednesday on Louisiana’s general obligation debt to AA from AA-minus due to the state’s willingness to resolve structural issues in its budget.

DALLAS — The Louisiana House Appropriations Committee declined Monday to give the go-ahead for construction of a $1.2 billion state hospital in New Orleans until a more complete business plan is developed.

DALLAS — Tolls on twin state bridges across the Mississippi River in New Orleans should be allowed to expire next year with the final payment on the bonds that financed the spans, an advocacy group argues.