2014 Louisiana Laws
Revised Statutes
TITLE 39 - Public Finance
RS 39:834 - Bonds, notes or certificates, declared valid obligations
§834. Bonds, notes or certificates, declared valid obligations
The issue of the bonds, notes or certificates of indebtedness authorized by this Part is hereby declared to create a valid contract between the governing authority of any political subdivision issuing them and each and every holder of the bonds, which the issuing authority shall not impair. The bonds, notes or certificates shall be a valid obligation of the political subdivision issuing them in favor of any holder, and no court shall enjoin the payment of the principal or interest thereof, or the setting aside of the revenues of the political subdivision issuing them not otherwise dedicated, before their issuance.
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