DALLAS - Discussions at the first official meeting of Louisiana's Coastal Protection and Restoration Financing Corp. focused on the need to maintain and improve the state's economically important coastal areas with revenue bonds supported by future offshore revenues.

The special-purpose public corporation was established by the Legislature in 2007 to manage the state's share of royalties from oil and natural gas production in federal leases in outer continental shelf waters in the Gulf of Mexico off Louisiana. The CPRFC is authorized to issue bonds based on 100% of the royalties, which are expected to be between $400 million to $900 million a year when the revenue stream begins flowing in 2017.

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