Bossier City Marshal Lynn Austin was elected as president of the Louisiana Community Development Authority (LCDA) in Baton Rouge last week at its annual board meeting.
Austin is succeeding Mr. William Lazaro who represents Jefferson Parish.
The LCDA is a political entity established by the Louisiana Legislature to arrange bonding for local political subdivisions and 501c3 to aid in projects that will assist local governments and provide jobs for communities.
The organization arranges for bonding attorneys, bond ratings and financial advice as well as brokering the bonds for the agency members.
Its, approximately, 80 members arrranges roughly $1.2 billion in bond issues per year.
Final approval is granted by the State Bond Commission.
The executive committee meets once a month in Baton Rouge and consist of seven members representing the entire board, Bossier City, Bossier Parish and the Caddo / Bossier Port Commission and all members of the LCDA.
Austin has served on the executive board for six years and is appointed by the mayor with council approval.