State Holds $113 Million Bond Sale For Work On Interstate 49.
State Treasurer John Kennedy told KPEL that a bond sale was going to happen this week to raise money to finish more work on Intersate 49, mainly in the northern portion of the state.
The bond sale happened Tuesday, and now the state has sold $113 million in bonds for the work.
In selling the bonds, the state of Louisiana now has upfront money to pay for construction and the debt will be paid off over time.
The I-49 bonds will be repaid using money that comes from the state's unclaimed property, but Kennedy says people can still claim all of their unclaimed money.
Of the $113 million, $92 million will be spent to finish the work on I-49 North, while $21 million has been set aside for completion of I-49 South between Lafayette and New Orleans.