EXECUTIVE ORDER KBB 06-15

Gulf Opportunity Zone Advance Refunding Bond Allocation Louisiana Stadium and Exposition District


WHEREAS, PL 109-135, also known as the Gulf Opportunity Zone Act of 2005 (hereafter "the Act"), was enacted to provide tax incentives to assist in the recovery and rebuilding efforts in certain areas affected by Hurricanes Katrina, Rita, and Wilma, and requires the governor of the state of Louisiana (hereafter "the State") to designate any advance refunding bonds as bonds issued pursuant to Section 1400(N) of the Act;

WHEREAS, the Louisiana Stadium and Exposition District (hereafter "the Issuer") proposes to issue two hundred thirty-seven million fifty thousand ($237,050,000) dollars of its Revenue and Refunding Bonds, Series 2006 (hereafter "the Bonds") for the purpose of advance refunding one hundred thirty-six million eight hundred twenty thousand ($136,820,000) dollars of outstanding bonds issued prior to August 28, 2005; and

WHEREAS, pursuant to the Act and Executive Order No. KBB 2006-9, issued on February 16, 2006, the governor of the state of Louisiana is required to designate such Bonds as Advance Refunding Bonds under the Ceiling;

NOW THEREFORE, I, KATHLEEN BABINEAUX BLANCO, Governor of the state of Louisiana, by virtue of the authority vested by the Constitution and laws of the state of Louisiana, do hereby order and direct as follows:

SECTION 1: The bond issue, as described in this Section, shall be and is hereby granted an allocation from the 2006 Ceiling as Advance Refunding Bonds in the amount shown:

 

Amount of Allocation

Name of Issuer

Name of Project

$154,425,000

Louisiana Stadium and

Exposition District

Revenue and Refunding Bonds

Series 2006 (Multiple Series)

SECTION 2: The allocation granted herein shall be used only for the bond issue described in Section 1 of this Order.

SECTION 3: The allocation granted herein shall be valid and in full force and effect through 120 days from issuance of this Order.

SECTION 4: All references in this Order to the singular shall include the plural, and all plural references shall include the singular.

SECTION 5: This Order is effective upon signature and shall remain in effect until amended, modified, terminated, or rescinded by the governor, or terminated by operation of law.

IN WITNESS WHEREOF, I have set my hand officially and caused to be affixed the Great Seal of Louisiana, at the Capitol, in the city of Baton Rouge, on this 22nd day of March, 2006.

 

Kathleen Babineaux Blanco
Governor

ATTEST BY
THE GOVERNOR
Al Ater
Secretary of State