DALLAS - The sponsor of a proposed film studio complex in West Baton Rouge Parish that received an allocation of Gulf Opportunity Zone bonds in early 2007 from the Louisiana State Bond Commission is suing the agency after being denied an extension of its $250 million bond allocation.

Studio City Louisiana LLC filed suit on April 7 in the 19th Judicial District of East Baton Rouge Parish, one day before it would have had to issue its bonds or return its allocation to the bond commission for redistribution to other projects. The commission on April 3 rejected Studio City's request for an additional 30 days shortly after adopting a new rule that allowed extensions upon payment of a fully refundable deposit of 0.5% of the requested allocation.

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