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Article: New Orleans city, schools plan $322 million bond vote for capital needs.(New Orleans, Louisiana; Orleans Parish, Louisiana)
- Article from:
- The Bond Buyer
- Article date:
- June 23, 1995
- Author:
CopyrightCOPYRIGHT 1995 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New Orleans and the Orleans Parish School Board this week kicked off plans for a shared, $322 million bond referendum on July 15 that would fund capital projects.
The city's part of the referendum would be a competitively bid $147 million bond deal to help fund a five-year, $171 million capital project plan. Bond proceeds would finance the construction and repair of roads, buildings, and playgrounds.
The school district would use its $175 million share of the debt for building and repairs.
In connection with the new-money issue before the voters, the city will refund some outstanding debt and the school board will move to expand its tax base.
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