2011 Louisiana Laws
Revised Statutes
TITLE 39 — Public finance
RS 39:681 — Authorization to issue eight percent municipal bonds payable from public utility and tax revenue in lieu of six percent bonds authorized by statute
SUBPART D. MUNICIPAL BONDS PREVIOUSLY
AUTHORIZED BY ELECTION
§681. Authorization to issue eight percent municipal bonds payable from public utility and tax revenue in lieu of six percent bonds authorized by statute
All municipalities in which the issuance of bonds payable from the revenues of a municipal revenue producing public utility, as the same is defined in Subpart A, Part I, Chapter 10, Title 33 of the Louisiana Revised Statutes of 1950, or bonds payable from the revenues of a municipal sales and use tax pursuant to Subpart D, Part I, Chapter 6, Title 33 of the Louisiana Revised Statutes of 1950, has heretofore been authorized at a municipal election held for such purpose are hereby authorized to issue in lieu of such bonds heretofore authorized, bonds payable from the said respective revenues at a rate of interest not exceeding the maximum rate provided for conventional interest by Article 2924 of the Louisiana Civil Code as the same now exists or may be hereafter amended, in the manner provided herein. Such bonds may be issued in an amount not exceeding the amount of bonds heretofore authorized at the said election and shall be issued for the purpose and term stated in the proposition approved at said election.
Acts 1970, No. 30, §1, emerg. eff. June 18, 1970 at 11:35 A.M.
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