$7.4 million approved for Ascension schools

Staff reports

BATON ROUGE – The State Bond Commission approved $214 million in funding for projects in the Baton Rouge area at the March 19 meeting, according to State Treasurer John Kennedy.

Included in the funding is $7.4 million in bonds for the Ascension Parish School Board Parishwide School District for refinancing  debt. By refinancing the debt, the School Board will save taxpayers $660,914, Kennedy said in a release.

The Bond Commission also approved:

• A $4.5 million loan for the Florida Parishes Juvenile Justice District for equipment and furnishings.

• A $100,000 loan for the Tangipahoa Parish Council, Rural Fire Protection District No. 2 (Wilmer Volunteer Fire Department, Inc.) to purchase a fire truck.  A $2.24 million loan for Washington Parish, City of Bogalusa for operating expenses.

• $200 million in bonds for the East Baton Rouge Parish, East Baton Rouge Sewerage

Commission for constructing and acquiring sewers and sewerage disposal works within the

parish including necessary sites, rights-of-way, machinery and equipment.

“The commission also signed off on refinancing debt for local governments across the state that

will result in a total savings of $6.83 million,” Kennedy said. “In addition, Citizens Property

Insurance will move forward with restructuring auction rate bonds to fixed rate bonds resulting in a savings of $280 million.”