BATON ROUGE, La. (AP) – The Jindal administration is looking at ways to restructure Louisiana's debt to keep dollars flowing for state construction projects, even as the state hovers near its debt ceiling.
The governor's top budget adviser, Commissioner of Administration Kristy Nichols, said Thursday that the administration will ask the Bond Commission next week for approval to bring on a financial adviser to help chart the plans.
Among the options being considered, she says, are a debt refinancing that could help the state take advantage of lower interest rates, which could free up more money for construction projects.
The state's pool of money to pay for ongoing construction projects is running dry, and Louisiana is teetering so close to its debt ceiling that there's little room to borrow more to replenish the fund.