2011 Louisiana Laws
Revised Statutes
TITLE 39 — Public finance
RS 39:747 — Requisites of certificates of indebtedness
§747. Requisites of certificates of indebtedness
The certificates of indebtedness shall be made due and payable not later than March first of the year following that in which they are issued and shall be issued in such manner and in such form as the governing authorities or the municipalities may determine, and when issued for any expense as estimated, shall be legal and valid obligations of the parish or municipality issuing them.
Certificates of indebtedness issued by parishes hereunder shall not bear a greater rate of interest than eight per cent per annum and certificates of indebtedness issued by municipalities shall not bear a greater rate of interest than six per cent per annum.
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