2014 Louisiana Laws
Revised Statutes
TITLE 39 - Public Finance
RS 39:562.2 - Limit of indebtedness of school districts in Beauregard, DeSoto, Sabine and Vernon parishes
§562.2. Limit of indebtedness of school districts in Beauregard, DeSoto, Sabine and Vernon parishes
Subject to having received a loan commitment from the United States of America, Department of Agriculture, Farmers' Home Administration, any parishwide school district or special school district in the parishes of Beauregard, DeSoto, Sabine, or Vernon may incur debt and issue bonds of said school district for the purposes set out in R.S. 39:554 which, including the existing bonded debt of said school district for such purposes, shall not exceed fifty percent of the total assessed valuation of all property in said school district, including both homestead exempt property and nonexempt property, to be ascertained by the last assessment for said school district previous to delivery of the bonds representing such debt, regardless of the date of the election at which said bonds shall have been voted.
Added by Acts 1979, No. 234, §1; Acts 1987, No. 221, §1.
Disclaimer: These codes may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
