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State Bond Commission approves $50 million to rebuild Calcasieu Parish schools

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Posted at 10:13 AM, Sep 17, 2021
and last updated 2021-09-17 11:13:12-04

According to the Louisiana Treasury Department, the State Bond Commission has approved $50 million in revenue bonds to help the Calcasieu Parish School Board resume construction work on schools damaged by hurricanes Laura and Delta.

Construction halted because of delays in FEMA reimbursement, they said.

The School Board used $40 million in insurance proceeds, $20 million in School Board General Fund money and $100 million in bond proceeds to begin initial repair work following the storms.

FEMA has remitted $116,000 of the School Board’s nearly $300 million in reimbursement requests.

“This bond issue will allow repairs on schools to resume,” said Treasurer Schroder. “Meanwhile, I hope our federal delegation can successfully convince FEMA to accelerate the recovery from the 2020 hurricanes. We cannot forget southwest Louisiana.”

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