State Sells $120 Million in Bonds
|Previous||1 of 1||Next|
small (250x250 max)
medium (500x500 max)
large ( > 500x500)
State sells $120 million in bonds By JOHN M. HILL Gannett News Service BATON ROUGE - The state Bond Commission Tuesday sold $120 million in state bonds to finance more than 40 construction projects around the state. Gov. David Treen, who usually sends a proxy to represent him on the com-mission, made a rare appearance to urge the commission to accept the low bid of 9.496 percent interest. The low bid was submitted by a syndi-cate headed by Citibank, First Boston Corp. and Howard Weil Labouisse Friedrichs Inc. Treen noted the interest is more than one point less than the 10.6 percent the commission had to pay on a $197 million bond issue in June Almost half the money raised from Tuesday's bond sale will go to build projects in the New Orleans area: $23 million for relocation of U.S. 90 between Morgan City and Houma, $20 million for construction of the new Mississippi River bridge at New Orleans, and $10 million for the West Bank Expressway in Jef-ferson and Orleans parishes. The governor made a thinly veiled pitch for an additional revenue source, noting those three projects alone will cost more than $750 million when completed. The governor said the state has tre-mendous capital needs and faces further borrowing. "Our needs are great and we must get on with it," he said. Last summer, Treen proposed a $450 million oil and gas transportation tax — the Coastal Wetlands Environmental Levy — to pay for capital construction, but the oil and gas industry easily de-feated the tax. The following is a list of area projects which will be funded through the bond sale: • Construction of a segment of Shreveport's Inner Loop Expressway be-tween Interstate 20 and Jewella Avenue, $6.9 million. • Completion of planning and start-up construction costs for the new E. A. Conway Hospital building at Monroe, $2.5 million. • Renovations to the burn and trauma' unit at Louisiana State University Medi-cal Center-Shreveport, $1.4 million, as well as renovations to the center's dietary unit, $960,000. • Planning for improvements to streets, parking lots, utilities, drainage and lighting at Grambling State Univer-sity, Lincoln Parish, $315,000. • Construction of the forestry, wildlife and plant science complex at Louisiana Tech University, Ruston, $2 million • Further construction at the North-western School of Nursing at Shreveport, $1 million, and completion of the utilities master plan at Northwestern's main campus at Natchitoches, $250,000. • Planning for renovations at the Northwestern buildings to be used by the new Louisiana School for the Gifted and Talented, a residential prep school at Natchitoches, $750,000.
|Title||State Sells $120 Million in Bonds|
Hill, John M.
Burn and Trauma Center (Louisiana State University Health Sciences Center – Shreveport)
|Identifier||See reference URL on the navigation bar.|
|Source||Louisiana State University Health Sciences Center Shreveport Medical Library (http://lib.sh.lsuhsc.edu)|
|Coverage-Spatial||Shreveport (Caddo, La.)|
|Rights||Physical rights are retained by Louisiana State University Health Sciences Center Shreveport. Copyright is retained in accordance with U.S. copyright laws.|