State gets out of post hurricane dome deal - KNOE 8 News; KNOE-TV; KNOE.com |

State gets out of post hurricane dome deal

Posted: Updated:
Source: AP Source: AP

NEW ORLEANS, La. (KNOE 8 News & AP) - Louisiana will pay nearly 110 million dollars to get out of a bond that helped upgrade the Superdome after Hurricane Katrina, but skyrocketed in interest costs.

The stadium and Exposition District is borrowing 361 million dollars to restructure the bond deal from 2006.

That 110-million dollar penalty fee will be rolled into refinanced borrowing and paid off over the next several decades, along with the rest of the debt.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KNOE. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.