La. sells $500M in bonds for construction work - KLFY News 10

La. sells $500M in bonds for construction work

Updated:

BATON ROUGE, La. (AP) - Louisiana has borrowed nearly $500 million to refill the fund that pays for state-backed construction projects.

It did so through two general obligation bond sales on Tuesday. The bids were accepted without objection by the State Bond Commission.

The state sold $347 million in tax-exempt bonds and $149 million in taxable bonds to investors for upfront cash. The debt will be paid off over decades, with interest.

The dollars will go into a state escrow account. That will keep money flowing for college building repairs, economic development projects, road work and local projects financed through the state construction budget.

Replenishment of the construction fund eases concerns that some projects would have to be slowed because of a cash crunch.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Police Seek Bank Robbery Suspect

    Police Seek Bank Robbery Suspect

    Lafayette Police have released these surveillance images of a bank robbery that occurred on the 300 block of Heyman Boulevard. See if you can identify the suspect.More >>
    Lafayette Police have released these surveillance images of a bank robbery that occurred on the 300 block of Heyman Boulevard. See if you can identify the suspect.More >>
  • Death of 92 year old woman ruled homicide

    Death of 92 year old woman ruled homicide

    On Monday, August 25, 2014 at approximately 12:00 pm the Lafayette Police Department responded to 1404 Carmel Drive, a residence in Village Du Lac, in reference to the death of a 92 year old female. Initially the investigation did not reveal anything suspicious. The body was later examined by the coroner and determined to be a homicide.
    More >>
    On Monday, August 25, 2014 at approximately 12:00 pm the Lafayette Police Department responded to 1404 Carmel Drive, a residence in Village Du Lac, in reference to the death of a 92 year old female. Initially the investigation did not reveal anything suspicious. The body was later examined by the coroner and determined to be a homicide.

    More >>
  • Coroner rules Victor White death suicide

    Coroner rules Victor White death suicide

    The Iberia Parish Coroner's Office has determined the cause of Victor White's death is a single contact gunshot wound to the right lateral chest, and the manner of death is suicide.More >>
    The Iberia Parish Coroner's Office has determined the cause of Victor White's death is a single contact gunshot wound to the right lateral chest, and the manner of death is suicide. More >>
Powered by WorldNow

1808 Eraste Landry Rd, PO Box 90665,
Lafayette LA 70509

Telephone: 337.981.4823
Fax: 337.984.8323
Email: tip10@klfy.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Young Broadcasting of Louisiana, Inc. A Media General Company.