LCDA announces the recent closing on the first of its kind municipal bond issue in Louisiana and the United States for Cameron Parish, Louisiana

June 20, 2018
Louisiana Local Government Environmental Facilities and Community
Development Authority (LCDA) Issues First of Its Kind GOMESA
Municipal Bonds for Cameron Parish, Louisiana
Baton Rouge— June 20, 2018 — the Louisiana Local Government Environmental
Facilities and Community Development Authority (Louisiana Community Development
Authority or LCDA), announced the recent closing on the first of its kind municipal bond issue
in Louisiana and the United States for Cameron Parish, Louisiana. The $11,895,000 Green Bond
Designated issuance, using GOMESA revenues received by the Parish from the Federal
Government, will be used to finance additions, acquisitions, repairs and/or expansions needed for
coastal restoration, protection and for other activities and endeavors permitted under the
provisions of the GOMESA Act of 2006 within the Parish.
“We were extremely delighted to be able to assist Cameron Parish, one of our valued
members, in this very unique issuance to help them protect the coast of their Parish and citizens,”
said Ty E. Carlos, Executive Director at the Louisiana Local Government Environmental
Facilities and Community Development Authority.
Cameron Parish is home to one of the most rapidly eroding portions of the Louisiana gulf
shoreline at the Gulf of Mexico interface of the Rockefeller Wildlife Refuge. The placement of
granite rock barriers approximately 150 yards offshore will help the Parish to combat the effects
of coastal erosion and provide much needed protection to its’ citizens during storms.
“Throughout the decision-making process to leverage and stretch the GOMESA dollars,
the Cameron Parish Police Jury realized that it could no longer afford to wait. It was time for
action.” said Ryan Bourriaque, Parish Administrator for Cameron Parish. “The funding secured
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through the bond process resulted in a $12 million in flux of revenues to begin these critical
projects today. At current payment rates of the GOMESA funds, the Parish would have waited
nearly 11 years to receive the amount of funds that was bonded out. The protection afforded by
this investment stabilizes our vulnerable shoreline beginning today. We no longer have to wait.”
The financing team included the following: Borrower: Cameron Parish, Louisiana;
Issuer: Louisiana Local Government Environmental Facilities and Community Development
Authority; Bond Counsel: Joseph A. Delafield & Associates; Underwriter/Investment Banker:
Morgan Stanley; Municipal Advisor: Government Consultants and Bond Trustee: Hancock
Whitney Bank.
Since its creation in 1991, the Louisiana Local Government Environmental Facilities and
Community Development Authority has issued in excess of $7 billion in bonds to assist
municipalities, 501c3 and IDB issuers in Louisiana.
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For more information, please contact:
Ty E. Carlos, Executive Director - LCDA
225-924-6150
Ty.Carlos@louisianacda.com