Sewerage and Water Board Finance and Administration Meeting Agenda January 2026
$66M Water Revenue Bond for Lead Abatement Awarded
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Description
The Sewerage and Water Board of New Orleans awarded a $66 million, non-interest-bearing water revenue bond to the Louisiana Department of Health for a lead service line inventory and mitigation program, with up to 49% principal forgiveness. The bond will mature over up to 32 years and proceeds will fund capital improvements.
Contract Details
Contract Amount
$66,000,000 (up to, with $32,340,000 principal forgiveness)
Vendor
LOUISIANA DEPARTMENT OF HEALTH
Agency
Sewerage & Water Board of New Orleans, LA
Contract Type
FINANCIAL_SERVICES
Document Date
January 14, 2026
Contract Term
Matures in 30 annual installments, final maturity no more than 32 years from issue; principal payments start by December 1, 2027
Renewal Date
2056-12-01
Renewal Info
N/A – one-time bond issuance with scheduled annual principal payments.
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PENDINGIssuing Agency
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Special District
New Orleans, LA
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