[{"_1":2,"_112":-5,"_113":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88,100],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",5979858,"mediaKeyId","5808727-bba5ace7378a1e183015af2420d464b3","parentId",5808727,"title","Bond commission authorizes planning to convert or refund $116.5 million gasoline and fuel tax bonds","audioSeconds",104,"startMs",2084250,"endMs",2188355,"viewUrl","/Search/View?dp=1&key=5808727-bba5ace7378a1e183015af2420d464b3&start=2084&end=2188","thumbnailUrl","https://assets.pipeline.soar.com/5808727-bba5ace7378a1e183015af2420d464b3/thumbnail_2084250.jpg","articleUrl","/articles/5979858/Louisiana/Bond-commission-authorizes-planning-to-convert-or-refund-1165-million-gasoline-and-fuel-tax-bonds","mediaUrl","https://secure.pipeline.soar.com/5979858-766911d3b6521a3c93adc5c31aa783eb/orig.mp4?Expires=1770799078&Signature=l~4OKNoMJJ0nEsRlkZ0F8iGHYLK42kvKVzlcJpwnUTDdO6gXqi78ZveVu3rCWiueSSHZXaAmtV94Och3-Zjzvs3Flk2rNkZCKO~SJxe3kCX2FF9OVZOSBhw-wGQCBnCGpBWIDhS8zkTIP9wweeZSxiWfKyTYIL5660lVV2rZg~ajLeY5L4iaz4ujtDgUiPwXkr6i-kl4ObCeKJQqyTyoJWCCq7iTW8sRuJi1kucQlcQ~A7r6LLjo3aietFDqGLG85~BR1M5HjrX60pFbgU5uolmUA41WPiBgqwT2AKQxUpcVorTOLG6PmMijVRInsDLdt7bCY6cmkblRw5VYmB2luw__&Key-Pair-Id=KUT5TJCACFTXG","author","Louisiana Legislature","date","2025-09-18T00:00:00Z","article","The State Bond Commission on Sept. 18 authorized staff to proceed with development of a plan of finance to convert or refund up to $116,500,000 of outstanding gasoline and fuel tax bonds (series 2022A), which are currently variable-rate and hedged with two interest rate swap agreements.

Staff materials said the bonds are in a SOFR index mode in which the state pays 70% of SOFR plus 50 basis points, and that the bonds have a mandatory tender date of May 1, 2026 and are callable Nov. 1. The commission’s municipal advisor, Wendell Gertner, recommended soliciting bank proposals now rather than waiting for the mandatory tender, saying there may be lower-cost options available under current market conditions.

The financing team, if authorized, would include the commission’s municipal advisor, bond counsel (Foley & Judell), and proposals would be solicited from the commission-approved investment banking pool that was established in August 2024. Staff proposed a tentative schedule: release the solicitation immediately after authorization, return to the commission in October to select structure and bank, and seek preliminary resolution authorization in October, with a supplemental resolution and pricing in November and closing after the Nov. 20 meeting.

Speaker de Villier moved approval of the authorization to proceed; Senator Womack seconded. There were no objections and the commission approved the solicitation and planning schedule.","mediaType","Video","parentTitle","State Bond Commission Sep 18, 2025","oneSentenceSummary","The commission authorized staff to develop financing options for converting or refunding $116.5 million of variable-rate gasoline and fuel tax bonds that are subject to a May 1, 2026 mandatory tender; municipal advisor recommended proceeding now to seek lower-cost options.","taxTitle","2025 Legislature LA, Louisiana","taxId",78558,"location","Louisiana","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},5979863,"State Bond Commission approves a series of local loans, bonds and a major sewer refunding",592,1156105,1748294,"/Search/View?dp=1&key=5808727-bba5ace7378a1e183015af2420d464b3&start=1156&end=1748","https://assets.pipeline.soar.com/5808727-bba5ace7378a1e183015af2420d464b3/thumbnail_1156105.jpg","/articles/5979863/Louisiana/State-Bond-Commission-approves-a-series-of-local-loans-bonds-and-a-major-sewer-refunding","https://secure.pipeline.soar.com/5979863-02825171f0047fcecbe116656a377ecd/orig.mp4?Expires=1770799078&Signature=Q0IQuGdkgIklFUxZI6fxW1TjuvQLtsT4m9myw93g3F15TexbqkjAM9GcD7BqjRLJKoejQbKSRvgWesj3UfyxQRZpgpp0lFFGi9F9kdJV2es3~52J26rnAXmdfjMw0poUpzKl12u3s3eUIrJckPMSuhzh0GJC4SkjACcMh6z3Y4JpqeY5MbnFt9MVKaoN0rX03jS1r1t1BpU0bPg~1HLLzc3ypoXFTE1WzlpKSn0neTD0vMKOLugxamFIuaQY5MaTffkyrAP2IUUZs9m9F1QQCc~fIdIWaO6WaIFhuGELfPK7zWBwgrptDQ9ka93BNYScq9DIAT7ttSTr3G1DYkxuhQ__&Key-Pair-Id=KUT5TJCACFTXG","The State Bond Commission on Sept. 18 approved a slate of local loans and bond financings for municipalities, school districts and utility authorities across the state and authorized a $497,925,000 revenue refunding for the East Baton Rouge Sewerage Commission.

Approvals included cash-flow and short-term borrowings for local districts and municipalities (items 43–46), municipal loans for street and lighting projects, and a series of long-term bonds and revenue financings (items 47–58). Notable approvals included:

- East Baton Rouge Pier St. George Fire Protection District No. 2: revenue anticipation notes not exceeding $12,500,000 for annual cash-flow borrowing; request up $2,500,000 from last year due to increases in salaries and lease payments, but the district expects new 4-mill levies in 2024 to bring about $6,500,000 in additional revenue and plans to reduce annual loan amounts over time.

- Town of Welch: sales tax bonds not exceeding $825,000 to resurface and pave six streets.

- Savin (Saving) Parish School Board sales tax district No. 1: sales tax bonds not exceeding $1,400,000 for renovations at Manning High School’s field house, and a second sales tax district authorization of $750,000 for softball facilities and ADA accessibility upgrades.

- Town of Erath: grant anticipation notes not exceeding $855,000 for street lighting upgrades; separate electric revenue bonds not exceeding $1,300,000 for electric system improvements including a substation and two large transformers. The town expects $2,400,000 in a Department of Energy and Natural Resources grant toward a $4,000,000 project and indicated it is addressing recent DEQ compliance findings.

- Village of Morroville, Pollock, Rapides Parish Sewer District No. 1 and others: a series of partial-forgiveness loans (DEQ forgivable amounts noted in staff materials) to rehabilitate wastewater treatment plants and lift stations.

- Lafayette Parish Public Power Authority: authorization not to exceed $95,000,000 in electric revenue bonds to either convert the coal-fired Rhodamaka Unit No. 2 to natural gas or make improvements to keep it coal-fired while meeting EPA standards; the total maximum project cost is about $178,000,000 and costs will be split among joint owners (authority 50%, CLECO 30%, Louisiana Energy and Power Authority 20%). Security for the bonds is the authority’s ownership interest in the unit and other pledged funds.

The commission also approved item 59, a $497,925,000 refunding for the East Baton Rouge Sewerage Commission, which staff said would provide approximately $19,000,000 in gross savings depending on bondholder participation. Item 60 — a $9,160,000 revenue bond authorization as matching funds for a consolidated wastewater treatment system in West Baton Rouge Parish — was also approved; project sources total $18,000,000 including $10,000,000 in water-sector funds.

The Town of Erath application included staff notes that the town’s sewage system is not in compliance with DEQ but that the town had identified remediation work already underway and sufficient reserves dedicated to sewer maintenance to complete remedial measures, according to the staff report.

Most items met technical requirements and were recommended by staff; motions to approve were made and recorded for the grouped item sets and carried without objections.

Several applicants received partial-forgiveness DEQ funding as part of their project financing; the commission’s staff materials listed required verifications and noted compliance or remediation steps where applicable.

The commission also recorded small amendments and cost-of-issuance reports for prior financings (items 61–64) and approved a set of lines of credit (items 65–68) as requested by the Division of Administration.","The commission approved multiple local borrowings — from small municipal street projects to a $95 million electric authority bond — and authorized a $497.9 million refunding for the East Baton Rouge Sewerage Commission projected to yield roughly $19 million gross savings.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},5979868,"State Bond Commission clears dozens of local propositions for Nov. 15 ballot",57,121780,179670,"/Search/View?dp=1&key=5808727-bba5ace7378a1e183015af2420d464b3&start=121&end=179","https://assets.pipeline.soar.com/5808727-bba5ace7378a1e183015af2420d464b3/thumbnail_121780.jpg","/articles/5979868/Louisiana/State-Bond-Commission-clears-dozens-of-local-propositions-for-Nov-15-ballot","https://secure.pipeline.soar.com/5979868-e45b4dfab9be5253f64ce3b39b9a2c60/orig.mp4?Expires=1770799078&Signature=jma0HGSPVVtVSn40JjWQi~VlDszhf198xRKONUME4NzshTEqJHIyc2G5~vApoGRI7tPCvbcY-Hte~9SXIgcSqJLAmjvmTLXTztfhMn7AmpH8J40u3hBR6RrCKDL3L92dXa-MWnjOP2WJ8OyCKITciCJbwrZsiwXNw5EDx23V-F~-GrR5ufPiGi6W4XmlqTnX--tKkTMTKH1nxp3IZ8TcqZ~nxKjPLVPBSRCSwEagOElHAKAy2q4X7dHTAp3-Fg2GIm-tdjMtvArwKXoyofLqwc2k1oLKhfZLH4s7fYC7HcA0-wHQw3lgCdHSocKXqbszLqivF5ItThTp~f~Bse3ZiQ__&Key-Pair-Id=KUT5TJCACFTXG","The State Bond Commission voted Sept. 18 to present items 3 through 42 to voters on the Nov. 15 ballot, approving a range of ad valorem taxes, sales taxes, parcel fees, general obligation bonds and home-rule charter propositions after staff review by the Bond Commission, the Attorney General’s Office and the Secretary of State’s Office.

Staff told commissioners the slate meets technical and legal requirements and urged the measures be placed before voters before the Secretary of State’s proposition deadline of Sept. 22. The staff also noted an ad hoc election subcommittee will meet on Sept. 20 to consider three additional applications that could not be taken up at the Sept. 18 meeting.

The propositions listed in items 3–42, if approved by voters, would fund a broad set of local services and projects identified by applicants, including gravity drainage and sewage, streets and highways, police and fire protection, senior services, schools and public facilities, crime prevention and security, flood protection, affordable housing, libraries, parks and recreation, and other local needs.

Speaker Duvalier moved approval of items 3 through 42; President Henry seconded. There were no objections and the commission approved the slate.

The commission’s staff report said the propositions were reviewed by bond commission staff, the Attorney General’s Office and the Secretary of State’s Office and ‘‘meet the technical requirements’’ for placement on the ballot. The staff recommendation and the commission’s approval do not guarantee voter approval; placement only allows voters in the affected jurisdictions to decide on the measures in the Nov. 15 election.","The commission recommended items 3–42 — a slate of ad valorem and sales taxes, fees, bonds and charter propositions — for placement on the Nov. 15 ballot after staff legal and technical review and with a Sept. 22 Secretary of State deadline.",{"_33":101,"_35":36,"_37":38,"_39":102,"_41":103,"_43":104,"_45":105,"_47":106,"_49":107,"_51":108,"_53":109,"_55":56,"_57":58,"_59":110,"_61":62,"_63":64,"_65":111,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},5979873,"Bond commission approves $4 million cash-flow loan for St. Landry Parish after added oversight",819,329895,1149225,"/Search/View?dp=1&key=5808727-bba5ace7378a1e183015af2420d464b3&start=329&end=1149","https://assets.pipeline.soar.com/5808727-bba5ace7378a1e183015af2420d464b3/thumbnail_329895.jpg","/articles/5979873/Louisiana/Bond-commission-approves-4-million-cash-flow-loan-for-St-Landry-Parish-after-added-oversight","https://secure.pipeline.soar.com/5979873-d850d796335acfc6d8275d8fe7ea37f0/orig.mp4?Expires=1770799078&Signature=WZ5bT0CpTFdKtUWai9cZtzLMLiQZNRtYvG773RqQ181hPWlUIuT8kC3xPR8b2oHLYB-qAidzen34qsHwzccdBrKEYthmHmECZi2KKj6CXXbEZYKvFnX4kuxFdA-Cw1OYk0zgW0yb4EpMZ4b1xl5GoZyKgDPUpGFTxtmKkcZxUMtR1xrGe44DEcL6Y4zrALZ1UHFmwfSVUxsE-f6WHckSqDBC0ntCOP0-aUv47phrD0njhbi67E9aBwVYNoF9JV21xSfyEw1RAc~tFm6fOF5b3ptBJbsGJfOOAT0Vco-770k8BvJFZKYQN19axye~uR8Kz3sYOKYyGsy1qJwbv8pFtg__&Key-Pair-Id=KUT5TJCACFTXG","The State Bond Commission on Sept. 18 approved a request by St. Landry Parish for up to $4,000,000 in revenue anticipation notes to cover operating expenses, contingent on the commission’s receipt of a certified ordinance adopted by the parish council and a monthly report to the legislative auditor.

The loan request, reduced from an earlier $4,600,000 figure, was presented to the commission with revised cash-flow projections and audits staff said were reviewed by the parish’s CPA and bond commission staff. Commission staff recommended approval after the parish provided updated projections that they said showed a “substantially balanced general fund budget for fiscal year ’26 without the inclusion of the $3,300,000 next-era pilot payments.” The staff recommendation was conditioned on receipt of the certified ordinance adopted the night before the meeting.

Why it matters: Commission staff warned the parish’s operating reserves have been depleted and that, without borrowing, the parish “may be unable to continue operations and repay the prior year loan.” The loan would provide short-term cash flow while the parish implements revenue and expenditure changes it says will restore structural balance.

Commission and staff descriptions of the parish’s plan said the parish submitted an amended FY25 budget and a projected FY26 budget and added contingency measures should planned pilot payments fail to materialize. Those contingencies included reallocating racino revenues — which itself requires a separate parish ordinance — and additional layoffs that “could impact operations in public services.” Staff also noted some transfers from other funds and about $236,000 in reduced expenditures in the revised projections.

During public comment, Harold Taylor, who identified himself as “a lifelong member of St. Landry Parish, former mayor, businessman … and today I serve as a parish councilman and chairman of the parish finance committee,” criticized the parish president’s handling of finances and said council members lacked timely access to documents. Taylor said the administration had “floated unreliable solutions, such as opioid settlement payments … and solar panel project payments that have been repeatedly delayed,” and urged the commission to authorize a larger, one-time loan with independent oversight. “I propose St. Landau Pass government be authorized to borrow the full amount necessary estimated at 4,600,000.0 according to the ordinance to restore solvency,” he told commissioners.

Parish President Jesse Ballard told the commission he has agreed to work with the legislative auditor, saying the auditor “is gonna be involved in our closing of the books on the parish government” and that the auditor will receive monthly closing documents. Ballard said, “they're gonna get every document … review our cash flow on a monthly basis.” When asked whether the legislative auditor could require spending changes, Ballard said the parish would comply with recommendations: “So whatever they go recommend to make this work … we're gonna be working hand in hand with the legislative auditor's office on this issue.”

Commissioner Speaker de Villier moved approval of item 46 and stipulated — with parties’ agreement — that a monthly report be submitted to the legislative auditor as part of the motion. President Henry seconded the motion. There were no objections and the motion was approved.

The commission’s staff memorandum noted the loan’s maturity was reduced to 12 months and that the parish’s plan to regain positive cash flow had earlier been considered dependent on private development decisions; staff said the revised projections, CPA review and the certified ordinance supported a recommendation for approval. Staff also warned they could not “attest to the accuracy or ability of the parish to perform” if projected revenues do not materialize and that worst-case the full prior loan could be renewed.

The commission’s approval directs the treasurer and staff to complete the technical loan paperwork once the certified ordinance and required documentation are received.","The State Bond Commission approved a reduced, 12-month revenue anticipation note for St. Landry Parish after staff review and the parish’s agreement to monthly oversight by the legislative auditor; approval was contingent on receipt of a certified ordinance passed by the parish council.","actionData","errors"]

Article not found

Bond commission authorizes planning to convert or refund $116.5 million gasoline and fuel tax bonds

State Bond Commission approves a series of local loans, bonds and a major sewer refunding

State Bond Commission clears dozens of local propositions for Nov. 15 ballot

Bond commission approves $4 million cash-flow loan for St. Landry Parish after added oversight