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State Bond Commission approves multiple municipal and state financing requests; recusal noted
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Summary
At its Jan. 15 meeting the State Bond Commission approved a series of municipal loans, refundings and bond issues — including a $300 million New Orleans Aviation Board authorization — and recorded a recusal by Senator Morris for two items.
The State Bond Commission on Jan. 15 approved a slate of municipal and state financing requests, including cash‑flow borrowings, tax and revenue bonds, and refundings, and noted a commissioner recusal for two airport and housing items.
Staff presented item 3, a revenue anticipation note for Tinsall Parish not to exceed $210,000; Representative Reiser moved approval and Senator Mizell seconded. “Hearing none, item is approved,” the chair said after no objections were raised.
The commission approved item 4, the City of Caring Cove request not to exceed $7,150,000 in tax bonds (described in staff materials as a 100% forgiveness loan administered through the DEQ Clean Water State Revolving Loan Fund for water-system improvements), and item 5, Terrebonne Parish Recreation District No. 10’s request not to exceed $1,770,000 in hurricane-recovery revenue bonds to repair sports lighting and power systems. Representative Verizer moved approval of items 4 and 5 and Senator Mizell seconded; no objections were recorded.
Items 6–8 were approved together: the Town of Delcomb’s request for up to $500,000 in taxable sewer revenue bonds (an add-on to an earlier $3,000,000 DEQ SRF loan due to higher bids), St. James Parish Council revenue bonds up to $12,000,000 to build a multipurpose facility near a new senior center (sewer verifications provided), and City of Slidell taxable utility revenue bonds up to $5,100,000 to rehabilitate eight sewer lift stations. Representative Reiser moved and Senator Mizell seconded; the commission approved the items by voice vote.
The commission also approved economic refundings: Saint Mary Parish’s limited tax refunding bonds not to exceed $10,000,000 (estimated gross savings about $393,000) and Terrebonne Parish School Board’s refunding not to exceed $13,455,000 (estimated gross savings about $412,000). Representative Reiser moved approval and Senator Mizell seconded.
Twin Parish Port Commission requests to provide local match and grant-cashflow support were approved (revenue notes up to $1,650,000 and grant anticipation notes up to $7,400,000 to cash-flow about $7,800,000 in grants). Representative Reiser moved approval and Senator Meisel seconded.
Chair noted that Senator Morris recused himself from items 13 and 14. Item 13, a New Orleans Aviation Board request not to exceed $300,000,000 in general airport revenue and refunding bonds (to fund runway and airfield work, stormwater pump upgrades, terminal demolition and early connector phases, and to refinance $125,000,000 of bond anticipation notes issued Feb. 2024), was approved after Representative Reiser moved and Senator Meisel seconded. Item 14, a Capital Area Finance Authority request not to exceed $50,000,000 in single‑family mortgage revenue bonds to finance loans for low‑ and moderate‑income first‑time homebuyers (issuer applied for a $54,000,000 allocation from the state private‑activity volume cap), also passed on a motion by Representative Reiser and second by Senator Mizell.
The commission reviewed cost-of-issuance reports (items 15–22) for a variety of previously approved bond authorizations — including the City of Opelousas, Lake Providence Port Commission, Terrebonne Parish School Board, Terrebonne Parish Council, Louisiana Community Development Authority projects, Louisiana Housing Corporation King Oaks 5, and the Louisiana Public Facilities Authority South Quad 4 — and no motion was required for those reports. Staff noted administrative fee adjustments and remaining issuance authority where applicable.
Finally, staff summarized monthly reports (two applications submitted but not on the agenda) and said there was no volume cap report this month pending updated population estimates needed to calculate the 2026 volume cap ceiling. With no other business, the chair adjourned the meeting.
Votes at a glance: motions to approve the minutes and each contested agenda item were moved and seconded as recorded in the meeting; the chair announced approval by voice for each motion and no roll‑call tallies were recorded in the transcript.
