the republic logo

Louisiana sells $200M in bonds to investors, to refill state construction project account


BATON ROUGE, Louisiana — Louisiana has borrowed $200 million to replenish the account that pays for state-financed construction projects.

The money came through a general obligation bond sale Thursday. The state sells bonds to investors to generate upfront cash, and the debt is paid over years with interest.

Citigroup Global Markets Inc. had the winning bid for the bonds, with an interest rate of 3 percent. The State Bond Commission accepted the bid without objection.

The dollars will go into a state escrow account that keeps money flowing for state building repairs, economic development projects, road work and lawmakers' local projects.

A disagreement between Gov. Bobby Jindal's administration and Treasurer John Kennedy over financial paperwork had threatened to disrupt the borrowing plans. But the two sides struck a compromise earlier this month.

Think your friends should see this? Share it with them!

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to and it will be forwarded to the appropriate editor or reporter.

We also have more stories about:
(click the phrases to see a list)


Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.