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State Bond Commission approves slate of local bonds, refinancings and a refunding resolution; several approvals conditional
Summary
The State Bond Commission approved a package of local elections items, loans, bonds, refinancings and a refunding resolution on May 21, 2026, largely by unanimous voice assent. Item 19 requires compliance with La. R.S. 33:4712.10 before disbursement; Item 24 was approved contingent on verification of a May 13, 2026 certified resolution.
The State Bond Commission met at 8:00 a.m. May 21, 2026, in Senate Committee Room A-B at the State Capitol Building and approved a slate of agenda items ranging from local election financing to bond refundings.
Representative Phillip R. DeVillier, Speaker of the House, moved the series of approvals and Senator Kirk Talbot seconded; most motions were approved "without objection," according to the meeting record. Ms. Folse summarized the staff synopses for multiple groupings of items before the votes.
Why it matters: approvals by the commission authorize or clear the way for local governments and authorities to issue or refinance debt, to proceed with planned projects, or to access loan proceeds. Several approvals included conditions or preliminary status that require further verification before funds are disbursed.
Key actions and conditions - Items 3–10 (Local Governmental Units — Elections, Nov. 3, 2026): approved after Ms. Folse’s synopsis; Mr. JP Morrell, president of the New Orleans City Council, spoke in support of Item 5. - Items 11–12 (Local Political Subdivisions — Loans): approved. - Items 13–19 (Local Political Subdivisions — Bonds, final approval): approved as a group; Item 19 is subject to the applicant’s compliance with La. R.S. 33:4712.10 before any disbursement for purchase of immovable property and disbursement must not exceed the appraisal valuation. - Items 20–21 (Refinancings): approved. - Items 22–23 (Other local political subdivision actions): approved. - Item 24 (Louisiana Housing Corporation — Federal City, Building 10 Project): conditionally approved pending verification of a certified resolution adopted May 13, 2026 authorizing the incurrence of the debt. - Item 25 (Northwest Louisiana Finance Authority — Petro Tower Project): granted preliminary approval. - Items 26–27 (Public trusts — final approval): approved; additional information on Item 27 was provided by bond counsel Tiffaney Trosclair (Foley and Judell, LLP) and Christopher Hines, chief operating officer of Crescent City Schools. - Items 28–33 (Cost of issuance reporting) and Item 34 (State of Louisiana general obligation bonds): status updates were provided. - Item 35 (State of Louisiana general obligation refunding bonds): a resolution to adopt the refunding was moved and adopted. - Item 36 (Monthly reports): reported; the chairman moved to adjourn and the meeting was adjourned without objection.
The meeting record shows routine approval language and no recorded roll-call tallies for individual yes/no votes; actions were taken by motion and sustained "without objection." For items carrying conditions — notably Item 19 and Item 24 — the commission’s approvals require follow-up verification before any proceeds are disbursed.
A verbatim transcript of the items in the specific order they were considered is available from the State Bond Commission.
Votes at a glance - Approval of April 16, 2026 minutes: Mover — Representative Phillip R. DeVillier; Seconder — Senator Kirk Talbot; outcome — approved (SEG 011). - Items 3–10 (Elections): Mover — Representative Phillip R. DeVillier; Seconder — Senator Kirk Talbot; outcome — approved (SEG 012). - Items 11–12 (Loans): Mover — Representative Phillip R. DeVillier; Seconder — Senator Kirk Talbot; outcome — approved (SEG 013). - Items 13–19 (Bonds, final approval): Mover — Representative Phillip R. DeVillier; Seconder — Senator Kirk Talbot; outcome — approved with condition on Item 19 per La. R.S. 33:4712.10 (SEG 014). - Items 20–21 (Refinancings): Mover — Representative Phillip R. DeVillier; Seconder — Senator Kirk Talbot; outcome — approved (SEG 015). - Items 22–23 (Other): Mover — Representative Phillip R. DeVillier; Seconder — Senator Kirk Talbot; outcome — approved (SEG 016). - Item 24 (Louisiana Housing Corporation — Federal City Building 10): Mover — Representative Phillip R. DeVillier; Seconder — Senator Kirk Talbot; outcome — conditionally approved pending verification of a certified resolution dated May 13, 2026 (SEG 018). - Item 25 (Northwest Louisiana Finance Authority — Petro Tower): Mover — Representative Phillip R. DeVillier; Seconder — Senator Kirk Talbot; outcome — preliminary approval (SEG 019). - Items 26–27 (Public trusts): Mover — Representative Phillip R. DeVillier; Seconder — Senator Kirk Talbot; outcome — approved (SEG 020). - Item 35 (State GO refunding bonds): Mover — Representative Phillip R. DeVillier; Seconder — Senator Kirk Talbot; outcome — resolution adopted (SEG 021).
Next steps: For conditional approvals, applicants or staff must provide the required certified documentation or demonstrate statutory compliance before disbursement. The commission’s office holds the verbatim transcript and the formal record of conditions and approvals.
