HLS 15RS-105 ORIGINAL
2015 Regular Session
HOUSE BILL NO. 681
BY REPRESENTATIVE KLECKLEY
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
BONDS: Changes the description of a capital improvement project for the SOWELA
Technical Community College to be financed through the sale of bonds
1 AN ACT
2To amend and reenact R.S. 17:3394.3(C)(1)(y), relative to the issuance of bonds for
3 financing certain capital improvement projects on properties within the Louisiana
4 Community and Technical Colleges System; to provide with respect to the list of
5 projects to be financed from the issuance of bonds; to provide for an effective date;
6 and to provide for related matters.
7Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 17:3394.3(C)(1)(y) is hereby amended and reenacted to read as
9follows:
10 ยง3394.3. Authority of board to execute agreements related to the finance of capital
11 improvements and enhancements
12 * * *
13 C. The projects set forth in Subsection B of this Section and the following
14 projects shall comprise the entirety of public facilities and projects to be financed
15 under the authorities of this Part and R.S. 17:3361 et seq., with respect to these
16 projects. Each project set forth below shall require a no less than twelve percent
17 private match. No project shall be financed until all private funds are available for
18 that project. The dollar value listed for each project, plus an amount equal to fifteen
19 percent, together with other requirements including but not limited to costs of
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 15RS-105 ORIGINAL
HB NO. 681
1 issuance, capitalized interest, if any, credit enhancement and related costs, is the
2 maximum amount that may be financed for each of the following projects:
3 (1) WORKFORCE AND TECHNICAL EDUCATION
4 * * *
5 (y) SOWELA Technical Community College,
6 Morgan Smith Campus, Jennings,
7 Jefferson Davis Parish
8 Automotive, Welding, Nursing and Industrial
9 Programs Campus Main Campus, Calcasieu Parish $ 9,000,000
10 * * *
11 Section 2. This Act shall become effective on July 1, 2015; if vetoed by the governor
12and subsequently approved by the legislature, this Act shall become effective on July 1,
132015, or on the day following such approval by the legislature, whichever is later.
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 681 Original 2015 Regular Session Kleckley
Abstract: Changes one of the construction projects for the SOWELA Technical
Community College System for which bonds may be issued to finance from the
Morgan Smith Campus to the main campus.
Present law authorizes the board of the La. Community and Technical Colleges System
(LCTCS) to approve a specific list of construction and improvement projects for facilities
and properties in the LCTCS system to be funded through the issuance of bonds. Further
provides for requirements and limitations with respect to the issuance of bonds such as the
terms of the bonds, the interest rates, requirements for the actual sale of the bonds, and
approval by the State Bond Commission.
Present law provides for the financing of a $9 million project for an Automotive, Welding,
Nursing, and Industrial Programs building on the Morgan Smith Campus for the SOWELA
Technical Community College.
Proposed law changes the project referenced for the SOWELA Technical Community
College from an Automotive, Welding, Nursing, and Industrial Programs building on the
Morgan Smith Campus to a project on the main campus.
Effective July 1, 2015.
(Amends R.S. 17:3394.3(C)(1)(y))
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.