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State Bond Commission approves a slate of bond items, adopts refunding and awards GO bond sale to Bank of America Securities
Summary
At its April 16, 2026 meeting, the State Bond Commission approved agenda items 3–68 (including local bond approvals and a refunding), recused Senator Jay Morris on Item 58, and approved the competitive sale of general obligation bonds to Bank of America Securities (TIC 3.720393%).
The State Bond Commission met April 16, 2026, in Senate Committee Room A‑B at the State Capitol and approved a series of bond-related items and routine reports. Treasurer John Fleming called the meeting to order; Ms. Snell called the roll.
Ms. Folse presented synopses for multiple agenda items. Representative Mike Johnson moved approval of the minutes from the March 19, 2026 meeting; Senator Mike Reese seconded the motion and, without objection, the minutes were approved. The commission then approved Items 3–51 (local governmental units related to the June 27, 2026 elections) after Ms. Folse’s synopsis; Representative Johnson moved approval and Senator Reese seconded.
Several local bond items were approved with statutory conditions. Item 53 (St. Tammany Parish, Recreation District No. 11) was approved subject to the applicant’s compliance with La. R.S. 33:4712.10 before any disbursement of proceeds for purchase of immovable property and with the requirement that such disbursement not exceed the appraisal valuation. Likewise, among Items 54–57, Item 56 carried the same statutory pre‑disbursement condition.
On Item 58 (Louisiana Community Development Authority; Innovative Student Facilities, Inc. — Louisiana Tech University Infrastructure Improvements Project), the record notes that Senator John C. “Jay” Morris was recused for that item. Following the recusal, Representative Johnson moved approval; Senator Reese seconded and Item 58 was approved without objection.
The commission gave preliminary approval to Item 59 (Louisiana Public Facilities Authority; Southern Housing Foundation, LLC project) on a motion from Representative Johnson, seconded by Senator Reese, and approved without objection.
Ms. Folse updated the commission on cost of issuance reports for Items 60–65 and explained Item 66, a competitive sale of General Obligation Bonds to fund cash lines of credit for projects under the Capital Outlay Budget Act. Bids were evaluated for lowest cost to the state and verified by Public Resources Advisory Group (PRAG). PRAG representatives Wendell Gaertner and Mickey Johnston (appearing by telephone) verified the results. Ms. Folse read the lowest bid and confirmed Bank of America Securities as the winning bidder with a True Interest Cost of 3.720393%. Representative Johnson moved to adopt the resolution approving the sale; Senator Reese seconded and, without objection, the resolution was adopted.
The commission approved Item 67 (State of Louisiana General Obligation Refunding Bonds) on a motion by Representative Johnson, seconded by Senator Reese, without objection. Ms. Folse then provided information on Item 68 (Monthly Reports). On motion of the chairman and without objection, the meeting was adjourned.
The meeting record notes that a verbatim transcript in specific order of items is available with the Bond Commission. This article reports actions and conditions as recorded in the meeting minutes; statutory references appearing in the minutes (for example, La. R.S. 33:4712.10) are cited here exactly as they appear in the record.
