2011 Louisiana Laws
TITLE 39 — Public finance
RS 39:833.1 — Pledge of net revenues
§833.1. Pledge of net revenues
The bonds, notes, or certificates of indebtedness may be secured by the income and revenues derived or to be derived from public works owned, leased, or operated by such political subdivision sufficient in amount to pay the principal of and the interest on such bonds, notes, or certificates of indebtedness as they severally mature. Such bonds, notes, or certificates of indebtedness shall not be a charge upon the other income and revenues of the political subdivision, as prohibited under the provisions of Article VI, Section 37 of the 1974 Louisiana Constitution. Any project or undertaking by any such political subdivision from which revenue is or will be derived, whether by lease, rents, fees, charges, or otherwise, shall be considered a public work within the meaning of this Part.
Added by Acts 1980, No. 259, §2, eff. July 12, 1980.
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