Issuance of up to $14 million in bonds and notes approved
The State Bond Commission last week gave unanimous approval to the issuance of up to $14 million in bonds and notes to construct and equip the extension of a pier at the Port of South Louisiana in Reserve.
View full sizeThis rendering shows the 700-foot-long pier extension from the Globalplex dock. Attorneys for the project said that $6 million will be covered by "anticipation notes" based on pledges by the state to pay $5 million in the 2012 port priority program and $1 million in the 2013 program.
The other money for the pier, about $8 million, will come from revenue bonds, according to commission analyst Carrie Chen. The pier work is part of a project at the port's Globalplex facility, Chen said.
