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State Bond Commission approves election propositions, local bonds, lines-of-credit and routine reports

July 17, 2025 | 2025 Legislature LA, Louisiana


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State Bond Commission approves election propositions, local bonds, lines-of-credit and routine reports
The State Bond Commission on July 17 approved a slate of propositions, local bond issues, amendments and routine reports after staff review and technical vetting. Several items drew no public objection and were approved on voice motions.

Key votes at a glance (all approved unless noted):
- Items 3–8: Election requests to place ad valorem tax and parcel-fee propositions on the Nov. 15 ballot (deadline noted for Secretary of State filings: Sept. 22). Staff and the offices of the attorney general and the secretary of state reviewed the propositions and recommended they meet technical requirements. Representative Johnson moved approval; Senator Veil seconded; no objection recorded.
- Item 10: Orleans Parish Law Enforcement District — limited-tax bonds not to exceed $15,000,000 to fund facility and security upgrades. Representative Johnson moved approval; Senator Mizell seconded.
- Item 11: Village of Robeline — taxable sewer revenue bonds not to exceed $990,000, including partial forgiveness loan through DEQ up to $742,500 for sewer improvements. Staff recommended approval.
- Item 12: Terrebonne Parish Hospital Service District No. 1 (Terrebonne General Health System) — hospital revenue and refunding bonds not to exceed $80,000,000. The transaction included a non-economic refunding of roughly $26,000,000 and approximately $54,000,000 in new-money financing; staff recommended approval.
- Item 14: City of Minden — sales-tax revenue bonds not to exceed $10,500,000 for recreation complex improvements; sewer verifications indicate compliance.
- Item 15: LCDA City of Gretna public-improvement revenue bonds not to exceed $18,000,000 for water/sewer meters and drainage/park/road improvements. Staff recommended approval after sewer-status verifications.
- Item 16: City of St. George — amendment to previously authorized $20,000,000 revenue note line to allow purchase and improvement of an office building for city hall; staff recommended approval.
- Items 17–24: Cost-of-issuance reports for previously issued bonds (Port of New Orleans, Vidalia Port Commission, LPFA Chevron project, LHC projects, Patriot Services Group portfolio, Ochsner Clinic Foundation). These reports required no motion; staff noted net fee changes and remaining approved fees.
- Items 25–30: Reauthorizations of cash and non-cash lines of credit submitted by the Division of Administration totaling $5,480,000,000 (priority 1 cash lines $1,120,000,000; additional P5 lines $4,360,000,000). Roger Husser, assistant commissioner in the Division of Administration, said these are routine reauthorizations of lines previously approved but not drawn; Representative Johnson moved approval; Senator Meisel seconded.
- Item 31: Authorization to plan a bond refunding of the outstanding $488,000,000 JP Morgan Chase term loan (original $554,000,000 term loan executed April 2020) to seek savings; preliminary and final resolutions were presented to allow pricing. Representative Johnson moved approval; Senator Meisel seconded.
- Item 32: Exception to the state's municipal-advisory services contract to allow Public Resources Advisory Group (PRAG) to serve as municipal advisor to the Office Facilities Corporation for statewide office-building projects; staff noted a prior exception given last fall for similar matters. Representative Johnson moved approval; Senator Meisel seconded.
- Monthly reports: Applications received but not put on the agenda, volume-cap report (approximately $4,000,000 available ceiling) and the elections receivable report were presented for the record.

How the commission handled these items. In nearly every case staff reported the applications met technical requirements and recommended approval; motions were made by Representative Johnson and typically seconded by a senator (Senator Mizell, Senator Meisel or Senator Veil). In the few cases where the commission heard public comment (notably Bogalusa items, covered in a separate article), staff reiterated that operational and historical questions (procurement, prior-grant follow-up, audits) are generally outside the bond commission’s narrow technical review and suggested off-line meetings with elected legislators and the fiscal administrator.

Administrative and advisory notes. The commission noted the municipal adviser Wendell Gertner was on the phone and that the Division of Administration’s assistant commissioner Roger Husser provided an orientation on the lines-of-credit reauthorizations as routine annual items. Several staff reports referenced external parties (DEQ, legislative auditor, municipal fiscal agents such as Renasant Bank and Investar Bank) as part of application reviews.

Next steps. Approved financings proceed under any staff contingencies and required reporting; staff will continue to verify legal and technical prerequisites, and the commission asked applicants and local officials to follow up with staff for outstanding documentation.

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