[StBernard] Treasury Update Nov. 2, 2009

[Westley Annis]

Treasury Update

November 02, 2009

 	  	  	 
Inside This Issue	 

	

	*	• In the News...
	*	• Louisiana Bond Rates Upgraded
	*	• $325M in GO Bonds Awarded
	*	• Streamlining Commission
	*	• Searched For Your Money Lately?

 	 
 	 In the News... 	 	 
 	 The Advocate
<http://www.votervoice.net/link/clickthrough/ext/75161.aspx>  -- Louisiana
bond rating upgraded
<http://www.votervoice.net/link/clickthrough/ext/75161.aspx> 


The Opelousas Daily World
<http://www.votervoice.net/link/clickthrough/ext/75162.aspx>  -- State
treasurer warns of looming budget woes
<http://www.votervoice.net/link/clickthrough/ext/75162.aspx> 
The Times Picayune
<http://www.votervoice.net/link/clickthrough/ext/75163.aspx>  -- State
officials want residents to collect millions in unclaimed property
<http://www.votervoice.net/link/clickthrough/ext/75163.aspx> 

The Times of Southwest Louisiana
<http://www.votervoice.net/link/clickthrough/ext/75164.aspx>  --
<http://www.votervoice.net/link/clickthrough/ext/75164.aspx>  Streamlining
Government: State Treasurer John Kennedy Explains the Task
<http://www.votervoice.net/link/clickthrough/ext/75164.aspx> 

The Natchez Democrat
<http://www.votervoice.net/link/clickthrough/ext/75165.aspx>  -- Treasurer:
Budget no longer blessed by Katrina
<http://www.votervoice.net/link/clickthrough/ext/75165.aspx> 
The Amite-Tangi Digest -- State Treasurer John Kennedy delivers wonderful
speech at Chamber
<http://www.votervoice.net/link/clickthrough/ext/75166.aspx> 
 	 

 	 Louisiana Bond Rates Upgraded 	 	 
 	 Earlier this month both Fitch and Standard and Poor’s upgraded
Louisiana’s bond ratings and Moody’s Investor Services raised the state’s
credit outlook from stable to positive, a precursory step to a possible
rating upgrade.

“No other state in the U.S. has received two rating increases in such a
short period of time. Assuming a ½ % interest cost reduction, Louisiana will
save over $15 million in interest cost rate savings over the next 20 years
due to the ratings increases,” said State Treasurer John Kennedy.

The increases are due to positive changes the state has made regarding
financial management and actions being taken to maintain a balanced budget,
build up reserves and prepare for future shortfalls.


 	 

 	 $325M in GO Bonds Awarded 	 	 
 	 Using the competitive online auction service Parity®, the State
Bond Commission awarded $325 million in General Obligation Bonds to
investors on Wednesday.

In the first auction, $200 million in General Obligation Bonds, Series
2009-A (New Money Bonds), were awarded to Barclays Capital Inc., who
submitted the lowest total interest cost rate bid of 3.946683%. The second
auction winner was J.P. Morgan Securities, Inc. for $124,780,000 in General
Obligation Refunding Bonds, Series 2009-B (Refunding Bonds), with a total
interest cost rate bid of 1.499440%.

“The participation level and bid results were excellent today, showing that
the recent rating and outlook upgrades from the three bond rating agencies
are greatly benefiting the State of Louisiana. Our efforts this summer were
well worth it.” said State Treasurer Kennedy.



 	 

 	 Streamlining Commission 	 	 
 	 The legislatively-created Louisiana Commission on Streamlining
Government has been meeting since July with the goal of finding ways to
reduce the cost of government in order to address the severe funding gap
Louisiana will be facing in fiscal year 2012. The State Treasurer is an
active member of the Streamlining Commission and Chair of the Commission's
advisory group on efficiency and benchmarking.

You can read more about the Streamlining Commission and submit your
cost-saving ideas at: 
http://senate.legis.state.la.us/streamline
<http://senate.legis.state.la.us/streamline/> .

 	 

 	 Searched For Your Money Lately? 	 	 
 	 The Treasury's Unclaimed Property Program is diligently working to
reunite unclaimed money with its owners. In the past three months, there
have been a number of large sums of money found and delivered to claimants
in the following Louisiana cities:

$271,603.99 Lafayette
$105,883.48 Thibodaux
$100,000.00 Crowley
$67,348.57 Baton Rouge
$62,329.00 Sulphur
$56,280.90 New Orleans
$50,000.00 New Roads
$41,804.28 Zwolle
$40,146.29 Lake Charles
$36,960.00 Shreveport
$36,387.48 Ruston
$36,387.48 Alexandria
$33,950.97 Harvey
$33,576.30 Covington
$32,801.75 Paradis
$26,595.96 Boothville
$25,092.88 Morgan City
$25,000.00 Monroe

To check if you have any unclaimed property, you can call the Treasury's
toll-free number for assistance at (888) 925-4127. If you are in Baton
Rouge, call (225) 219-9400. You can also search the online database at:
www.latreasury.com
<http://www.treasury.state.la.us/Home%20Pages/UnclaimedProperty.aspx> .


	 	 

www.LATreasury.com <http://www.LATreasury.com> 	 

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