DALLAS — Louisiana is rapidly running out of general obligation bond proceeds to finance state capital projects and can’t issue enough additional debt to pay for projects already on the books.

That’s the dilemma facing an executive committee authorized Feb. 21 by the State Bond Commission. The commission set up the blue-ribbon panel after receiving a bleak report from Whit Kling, director of the commission, on the state’s dwindling capital-outlay escrow account.

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