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Police are investigating a fatal accident Sunday morning that left an unidentified man dead.more>> Police are investigating a fatal accident Sunday morning that left an unidentified man dead.more>> The National Flood Insurance Program has set up a hotline to provide information to Louisiana residents.more>> The National Flood Insurance Program has set up a hotline to provide information to Louisiana residents.more>> It's all about the odds, and one lone ticket in Florida has beaten them all by matching each of the numbers drawn for the highest Powerball jackpot in history at an estimated $590.5 million, lottery officials said Sunday.more>> It's all about the odds, and one lone ticket in Florida has beaten them all by matching each of the numbers drawn for the highest Powerball jackpot in history at an estimated $590.5 million, lottery officials said Sunday.more>> The incident happened Saturday afternoonmore>> The incident happened Saturday afternoonmore>> 1500 jobs could be in jeopardy if the Algiers-Canal Street ferry goes out of service because of lack of funding. That's according to a local non-profit who recently surveyed riders.more>> 1500 jobs could be in jeopardy if the Algiers-Canal Street ferry goes out of service because of lack of funding. That's according to a local non-profit who recently surveyed riders.more>> The battle to recall St. Tammany Parish Coroner, Dr. Peter Galvan is heating up in a major way.more>> The battle to recall St. Tammany Parish Coroner, Dr. Peter Galvan is heating up in a major way.more>> Police are investigating two fatal shootings that left a 37-year-old man dead in Central City and a 20 -year-old man dead in the Florida area.more>> Police are investigating two fatal shootings that left a 37-year-old man dead in Central City and a 20 -year-old man dead in the Florida area.more>> The New Orleans Police Department is investigating a shooting in the 1200 block of Horace Street that killed a woman Friday night.more>> The New Orleans Police Department is investigating a shooting in the 1200 block of Horace Street that killed a woman Friday night.more>> Lafourche Parish is preparing to begin more than $6 million in flood protection projects for the Raceland and Des Allemands areas.more>> Lafourche Parish is preparing to begin more than $6 million in flood protection projects for the Raceland and Des Allemands areas.more>> Baton Rouge's police chief says it was a mistake not to take everyone to jail accused in the beating of a family at a gas station.
more>> Baton Rouge's police chief says it was a mistake not to take everyone to jail accused in the beating of a family at a gas station.
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BATON ROUGE, La. (AP) - Agriculture Commissioner Mike Strain will borrow $7 million to take control of a defunct sugar cane mill in southwest Louisiana that was built with state tax dollars and only operational for 90 days.
Strain received approval Thursday from the Bond Commission to borrow the money through a bond sale and repay it over 10 years.
The mill is teetering on default of its debt payments. Strain says if the state doesn't buy out the mill, a bank would take over the property and the agriculture department wouldn't be able to sell it or lease it to recoup some of its investment.
Strain said his department has spent $78 million to build and maintain the Lacassine mill constructed under his predecessor, Bob Odom. It was appraised for less than $7 million.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
