Houma Courier: Bonds to finance major projects

The Lafourche Parish Council last week voted to sell $14.5 million in bonds from expected federal offshore revenue.

The money, stemming from the Gulf of Mexico Energy Security Act, will be used to pay for eight major projects in the parish.

Selling bonds from the annual payments allows the parish to receive the $14.5 million upfront and quickly begin the approved projects. GOMESA bonds can only be used for coastal conservation, restoration and hurricane protection.

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