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Bond Commission approves election measures, local projects, university conversion, and refunding resolution
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Summary
At its April 16 meeting the State Bond Commission approved election requests for the June and November ballots, multiple local revenue and water projects and hospital refunding bonds (some subject to statutory conditions), preliminarily approved a $130 million student housing financing, and approved a resolution for up to $425 million in GO refundings.
The State Bond Commission on April 16 approved a package of election requests and local financing actions, including several revenue bond issues, a university infrastructure project and a tentative refunding plan.
Commission staff presented Items 3–51 — election requests for the June 27, 2026 ballot covering ad valorem and sales taxes, parcel fees and general-obligation bonds — and recommended they meet technical and legal requirements. Representative Johnson moved approval; Senator Reese seconded and, hearing no objection, the items were approved.
The commission also approved Item 52, an election request for the Lake Bullard Neighborhood Improvement District to appear on the Nov. 3 ballot, following staff review. Representative Johnson moved and Senator Reese seconded the motion to approve Item 52.
On project financing, the commission approved Items 54–57, which include: Livingston Parish Fire Protection District No. 5 (revenue bonds up to $1.2 million for truck bays); Pointe Coupee Parish consolidated Water Works District No. 1 (not exceeding $14.5 million in water revenue bonds to consolidate debt and fund meters); St. Tammany Parish Hospital Service District No. 1 (up to $90 million in hospital revenue and refunding bonds, approval subject to compliance with the provisions of statute cited in the record); and the Town of Farmerville (water bonds up to $1.5 million to address significant drinking-water deficiencies). The chair noted Item 56 is approved subject to the condition stated by staff.
Item 53, a limited-tax bond not exceeding $3,000,000 for Saint Tammany Parish Recreation District No. 11 to acquire roughly 100 acres and construct athletic facilities, was approved subject to statutory purchase provisions.
Item 58 — an LCDA financing for Innovative Student Facilities Inc., serving Louisiana Tech University, for up to $17,000,000 in revenue bonds — received approval. Staff said the university plans to retire its aging on-campus cogeneration plant, switch its electrical provider to the City of Ruston and expects about $365,000 in annual operations-and-maintenance savings after debt service. The application was recommended subject to statutory compliance required for property purchases.
Item 59, a notice of intent for up to $130,000,000 in revenue bonds for Southern Housing Foundation LLC to build two new student housing buildings totaling about 850 beds, was given preliminary approval; staff noted final approval will require additional transaction documents, a market study, pro formas and Board of Regents approval.
Under other business staff presented monthly cost-of-issuance reports for items 60–65 (Colfax, Leamingston Parish Juvenile Crossing EDD, Caddo Parish Law Enforcement District, Louisiana Tech refunding, and Louisiana Housing Corporation projects), noting fee changes and net cost adjustments; no motion was required for those reports.
The commission also approved Item 67, a resolution to authorize up to $425,000,000 in general-obligation refunding bonds to refund Series 2016 and potentially tender other outstanding GO bonds; staff recommended a negotiated sale with a tentative schedule to adopt a second resolution in May and potentially close in June. Representative Johnson moved approval and Senator Reese seconded.
Senator Morris announced a recusal for items noted earlier in the record. With no other business, the chair adjourned the meeting.
