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Article: High bids delay bonds for New Orleans convention center.
- Article from:
- The Bond Buyer
- Article date:
- September 1, 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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ATLANTA - A $180 million revenue bond issue needed to expand New Orleans' convention center has been pushed back because construction bids came in more than 15% over budget.
A construction committee of the Ernest N. Morial Convention Center board meets this morning to decide how to handle the situation.
If it decides to negotiate with the low bidder, Centex Landis Construction Co. of New Orleans, bonds previously scheduled for sale in August could go to market in October. If the panel decides to rebid the Phase 3 expansion, the bond issue will be postponed for three to five months, said the convention hall's chief financial officer, Dave Ohlmeyer.
"I ...