2011 Louisiana Laws
Revised Statutes
TITLE 39 — Public finance
RS 39:838 — Securing payment of obligations; subdivisions may mortgage property


LA Rev Stat § 39:838 What's This?

§838. Securing payment of obligations; subdivisions may mortgage property

For the purpose of further securing the payment of bonds, notes or certificates of indebtedness issued under the provisions of this Part, for the construction, acquisition, extension, repair or improvement of any revenue producing public utility, instrumentality or facility, any political subdivision may, through its proper governing authority, mortgage the buildings, machinery and equipment comprising the utility, instrumentality or facility and the lands upon which they may be situated.

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