Louisiana

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.

DALLAS — Gov. Bobby Jindal reiterated his stance against new taxes to balance Louisiana’s fiscal 2012 budget Monday at the opening of the regular legislative session.

DALLAS — Louisiana’s State Bond Commission declined Tuesday to approve a tax-exempt option for $75 million of bonds for a grocery distribution facility in St. Tammany Parish.

DALLAS — Sen. David Vitter, R-La., met last week with federal officials to oppose Louisiana’s request for credit enhancement on $400 million of revenue bonds for a new $1.2 billion teaching hospital in New Orleans.

The Internal Revenue Service has closed an audit of about $300 million of Series A special tax bonds issued by the Ernest N. Morial-New Orleans Exhibition Hall Authority in 2003 to help finance a convention center expansion.

DALLAS — The Louisiana State Bond Commission approved a staff report Thursday that set the par amount of net state tax-supported debt at $5.9 billion as of Dec. 31, 2010.

All of Louisiana’s 64 parishes will share in the first $5 million from BP’s $30 million contribution to help rebuild a tourism economy that was devastated last year by the Deepwater Horizon oil spill disaster in the Gulf of Mexico.

DALLAS — Louisiana Gov. Bobby Jindal presented the Legislature on Friday with a proposed $24.93 billion operating budget for fiscal 2012 that allocates $1.12 billion less than in the current fiscal year.

Standard & Poor’s has revised its outlook to positive from stable on sewer revenue bonds issued by the New ­Orleans Sewerage & Water Board.

Louisiana is seeking damages of $1 million a day each from BP and other companies associated with the Deepwater Horizon oil spill in the Gulf of Mexico last year.

DALLAS — Louisiana’s Revenue Estimating Conference on Tuesday adopted an official revenue estimate for fiscal 2012 that shows only slight relief for next year’s $1.6 billion budget shortfall.