State Bond Commission

The State Bond Commission has approved a $400 million restructuring of a troubled bond deal that helped rebuild and upgrade the Superdome after Hurricane Katrina.

The Times-Picayune reports that it includes paying off the $238 million in bonds the state bought in 2008 to get the Louisiana Stadium and Exposition District out of debt, and fees to resolve litigation with Merrill Lynch.

The authority that oversees the Ernest N. Morial Convention Center will be able to save at least $6 million in interest costs on its outstanding bonds based on action taken by the State Bond Commission.

The Times-Picayune reports the commission on Thursday approved without objection the issuance of $75 million in refunding bonds for the Convention Center.