THE WATCH
It’s Christmas in July for Some Non-Profits in Swampland
The Louisiana State Bond Commission approved over $3.6 billion in financing last Thursday for a long slate of capital outlay projects authorized by the Louisiana Legislature during their unprecedented spending spree in Swampland (the Baton Rouge Capitol) earlier this year. This included over $105 million in cash lines of credit and new long-term debt obligations to finance projects for a select group of well-connected non-profit groups.