BATON ROUGE, La., (KNOE 8 News) - Louisiana Citizens Property Insurance Corp.'s board has voted to borrow $100 million through bonds to cover a $70 million shortfall - in direct defiance of the Jindal administration's wishes.
In an email after Thursday's vote, Division of Administration spokesman Michael DiResto criticized the proposed bond issue, describing it as bad for all property owners and taxpayers.
Citizens issued $978 million in bonds in 2006 to cover its Hurricane Katrina and Rita claims. Citizens billed property insurance companies doing business in the state for the payments on those bonds.
Citizens Chief Financial Officer Steve Cottrell said Citizens can arrange its payment schedule so that the current assessment, 3.74 percent of property insurance premiums, does not increase for policyholders.
Friday, May 17 2013 12:09 PM EDT2013-05-17 16:09:18 GMT
FARMERVILLE, La. (KNOE 8 News) - The family of a Farmerville teen who died at football practice last week says it is overwhelmed by the community's gratitude.
FARMERVILLE, La. (KNOE 8 News) - The family of a Farmerville teen who died at football practice last week says it is overwhelmed by the community's gratitude.
MONROE, La. (KNOE 8 News) - Monroe's first Bayou Desiard Dragon Boat Festival is here."It's something that I saw in another town and I really wanted to bring it to Monroe. You know, we could not have done
MONROE, La. (KNOE 8 News) - Dragon boat racing kicks off this Saturday and the proceeds are going to a good cause.
Friday, May 17 2013 7:24 PM EDT2013-05-17 23:24:29 GMT
MONROE, La. (KNOE 8 News) – Jeane Gonzales has lived in the same house for nearly 40 years, but now she is facing a major problem. A leak is coming from her home's water meter.
MONROE, La. (KNOE 8 News) – Jeane Gonzales has lived in the same house for nearly 40 years, but now she is facing a major problem. A leak is coming from her home's water meter.
By Victoria Shirley MONROE, La. (KNOE 8 News)- Anglers get ready, the Ronald McDonald house just announced its 21st annual big bass tournament. Each year, the tournament is a fundraiser for the Ronald
MONROE, La. (KNOE 8 News)- Anglers get ready, the Ronald McDonald house just announced its 21st annual big bass tournament.
