DALLAS - Louisiana will issue at least $303.5 million of 35-year, second-lien gasoline and fuel tax bonds this week in a negotiated sale that will benefit the state's ongoing $5.2 billion transportation program.

The issue will include $200 million of variable-rate tax-exempt debt enhanced with a letter of credit from JPMorgan Chase Bank NA and at least $103.5 million of variable-rate taxable Build America Bonds. Proceeds will finance the next 12 months of the Transportation Infrastructure Model for Economic Development capital improvement program that voters approved in 1989.

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