Louisiana

The Louisiana State Bond Commission on Tuesday reserved $600 million of Gulf Opportunity Zone private-activity bonds for an unidentified manufacturing project in the southern part of the state.

New Orleans has only $1.2 billion available to finance $1.5 billion of recovery projects announced in 2009 by former Mayor Ray Nagin, city officials said last week.

Sales and vehicle tax revenue in East Baton Rouge Parish fell 4% in June from last year, continuing a string of skimpy collections since the start of 2010.

BRADENTON, Fla. — Boosted by the popularity of Build America Bonds and refunding opportunities, issuers in the 11 states that comprise the Southeast region sold $34.5 billion of municipal bonds in the first half of 2010, up 7.4% over the same period last year.

DALLAS — Louisiana is taking $403.5 million of gasoline and fuel-tax bonds to market next week as tax-exempt debt, rather than Build America Bonds, in response to investor demand.

DALLAS — The Louisiana Community and Technical College System will continue its capital improvements effort at its campuses across the state with proceeds from the negotiated sale of $68.7 million of revenue bonds on Aug. 23.

DALLAS — Today’s negotiated sale of $104.5 million of general obligation refunding bonds by the Orleans Parish Parishwide School District is seen as an indication that New Orleans is recovering from the devastating storms of 2005.

DALLAS — The Louisiana State Bond Commission on Thursday amended its allocation policy for Gulf Opportunity Zone bonds to provide up to $500 million of the debt for a major industrial project.

DALLAS — The federal ban on new deepwater drilling in the Gulf of Mexico could be more devastating to the region’s economic recovery than the crude oil that gushed from the BP well blowout for almost three months.

DALLAS — New Orleans is spending millions to purchase a hospital damaged by Hurricane Katrina and renovate the vacant facility to serve residents of the city’s east side.

DALLAS — New Orleans is a great city whose municipal finances are in shambles, Mayor Mitch Landrieu said Thursday in his first state of the city address since taking office in early May.

DALLAS — Louisiana Treasurer John Kennedy criticized the Legislature and Gov. Bobby Jindal on Monday for developing what he called a precariously balanced fiscal 2011 budget that doesn’t come to grips with the state’s tenuous fiscal situation.

The Louisiana Revenue Estimating Conference on Monday accepted a forecast by state economists that general fund revenue for fiscal 2010 would total $7.28 billion.

The St. Helena Parish School District has asked a federal court in Baton Rouge to impose a property tax on residents to support bonds that would help rebuild its aging schools.

DALLAS — Louisiana lawmakers sent a $26 billion operating budget to Gov. Bobby Jindal on Sunday night after the House reluctantly agreed to the Senate’s version of the fiscal 2011 spending plan.

DALLAS — Louisiana will transfer at least $500 million into the general fund from its capital outlay escrow fund to pay its bills for fiscal 2010, which ends June 30.

DALLAS — The Louisiana State Bond Commission on Thursday selected an underwriting team for the planned sale of $500 million of fuel tax revenue bonds to finance a constitutionally mandated road and bridge construction program.

DALLAS — Louisiana Treasurer John Kennedy yesterday said he supports the $20 billion oil-spill escrow plan announced by President Obama and BP executives to handle claims arising from the Deepwater Horizon blowout in the Gulf of Mexico.

DALLAS — State economists told the Revenue Estimating Conference on Friday that Louisiana’s budget deficit for fiscal 2010 has ballooned by another $261.4 million from April’s revised lower estimate.

DALLAS — Louisiana Treasurer John N. Kennedy has urged Gov. Bobby Jindal to develop a financial contingency plan in case BP Corporation North America Inc. declares bankruptcy due to the enormous costs associated with its oil spill in the Gulf of Mexico.