(GALLIANO, LA.- JULY 10, 2008) – Governor Bobby Jindal appointed Port Fourchon Director Ted Falgout to the Coastal Protection and Restoration Financing Corporation. The Coastal Protection and Restoration Financing Corporation has the authority to carry out the financing, purchasing, owning and managing of the offshore royalty revenues and offshore royalty revenue assets. The board works closely with the Governor’s Office of the Coastal Protection and Restoration Authority.
Senator Reggie Dupre said, “I am very pleased that Ted was appointed. I recommended him from day one. I believe that he is a perfect fit for this board and is most qualified for the position due to his experience in securing bonds for the LA1 project.” Port Director Ted Falgout said, “I look forward to serving on this very significant state corporation. The Port has long been a leader in working to secure a share of the federal offshore oil and gas revenues for the state and now it appears I will have the chance to expand our leadership role.”
According to statute, the board is comprised of fifteen members which include the governor, the state treasurer, the attorney general, the president of the senate, the speaker of the House of Representatives, the chairman of the Coastal Protection and Restoration Authority, the secretary of the Department of Natural Resources, the secretary of the Department of Transportation and Development, or their designees, and seven members appointed by the governor, which are subject to senate confirmation. Each gubernatorial appointment is selected from each of the seven congressional districts. Falgout represents the 3rd Congressional District.
The other members appointed to the board include John D. Becker of Mandeville, Frank Bonifay of Prairieville, Bill Krutzer of Monroe, King Milling of New Orleans, Frederick Prejean Sr. of Lafayette, and Aubrey Temple Jr. of Deridder.