House urges relief for Dome (1 Viewer)

[Dan in Lafayette]

Bond buyout plan targets rising rates

Ed Anderson / New Orleans Times-Picayune

BATON ROUGE -- With little debate, the House gave unanimous approval Wednesday to legislation that could lower the interest the Superdome Commission is paying on its bonds.

House Bill 5 by Speaker Jim Tucker, R-Algiers, now heads to the Senate for debate.

Tucker told colleagues that the commission, like many other private and public agencies in the country, "is the victim" of the nationwide financial crisis caused by the subprime mortgage problems that have rocked money markets. Full Story – Picayunehttp://www.nola.com/news/t-p/capital/index.ssf?/base/news-5/12053857066340.xml&coll=1