2011 Louisiana Laws
Revised Statutes
TITLE 39 — Public finance
RS 39:563 — Maximum duration; interest

LA Rev Stat § 39:563 What's This?

§563. Maximum duration; interest

No bonds issued by any subdivision shall run for a longer period than forty years from the date thereof, or bear a greater rate of interest than the maximum authorized by Act No. 19 of the First Extraordinary Session of the Legislature of Louisiana for the year 1975, [R.S. 39:1421 to 39:1426], as the same now exists or may be hereafter amended, payable annually or semiannually, or be sold for less than par. Such bonds shall become due and payable in annual installments beginning not more than three years after the date of issuance.

Amended by Acts 1975, No. 161, §1.

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