LCDA issues bonds for Louisiana Community and Technical College System
On October 24, 2017, the Louisiana Local Government Environmental Facilities and Community Development Authority (“LCDA”) issued two (2) series of bonds for the Louisiana Community and Technical College System (“LCTCS”). The first issuance of $22,750,000 was for the refunding of bonds for the Delta Campus Facilities Corporation, which is a non-profit entity to benefit the Delta Community College located in Monroe, Louisiana. The second issuance for LCTCS, in the amount of $88,590,000, was for the refunding of bonds issued under Act 391.
The two refunding transactions realized significant debt service savings for the State which were then used to generate $24,000,000 in new funding for the LCTCS Act 360 projects, the bonds were issued by the LCDA on October 25, 2017.
“The financing team did an outstanding job coordinating three simultaneous transactions that resulted in significant savings and investment in community colleges throughout Louisiana” according to John Mayeaux of Sisung Securities who served as the Financial Advisor on the transactions.
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