Louisiana

DALLAS — New Orleans Mayor Ray Nagin on Friday outlined a 2010 general fund budget that relies on more vigorous revenue collection and cuts to departmental budgets to plug a $67.7 million deficit.

DALLAS — Louisiana officials were gratified Tuesday with significant investor interest in the state’s first offering of new-money debt in three years.

DALLAS — Louisiana will sell $325 million of general ­obligation bonds next week as the state enters the new-money market for the first time in three years.

The five-week old state tax amnesty program has generated more than $40 million. The program began Sept. 1 and is set to expire Oct. 31.

A planned March 2010 election for $200 million of bonds requested by the Jefferson Parishwide School District has been postponed until October 2011.

Voters in Louisiana’s Iberia Parishwide School District will decide on a $60 million general obligation bond package Saturday that would finance projects contained in a capital improvement plan adopted by school trustees in July.

DALLAS — East Baton Rouge Parish’s proposed $900.8 million bond package will remain on the Nov. 14 ballot despite efforts by several members of the Metropolitan Council to postpone the election until 2010.

Fitch Ratings and Standard & Poor’s raised their ratings on Louisiana’s general obligation bonds by one notch as the state prepares a competitive sale of $324.8 million of GOs for Oct. 27.

BRADENTON, Fla. — Just ahead of Louisiana’s $324.8 million general obligation sale later this month, Fitch Ratings on Thursday upgraded the state’s GO rating to AA-minus from A-plus.

Louisiana has opted for binding arbitration to resolve its dispute over the replacement value for Charity Hospital in New Orleans, wich was severely damaged by Hurricane Katrina in 2005.

New Orleans hopes to generate at least $5 million in revenue from businesses with a sales tax amnesty program that will begin Oct. 1 and extend through Dec. 4.

The Ascension Parish-Wide School District would upgrade 20 schools with the proceeds from a $100 million bond issue going to voters on Oct. 17.