2015 Louisiana Laws
Revised Statutes
TITLE 39 - Public Finance
RS 39:562.1 - Provisions of R.S. 39:562 inapplicable to certain debts and bonds

§562.1. Provisions of R.S. 39:562 inapplicable to certain debts and bonds

The limitations contained in R.S. 39:562 shall not apply to (1) debts assumed under any general law which authorizes any parish to assume the debt of any road district, subroad district, consolidated road district, drainage district, irrigation district, levee district, waterworks district, road lighting district, fire protection district, airport district, hospital service district, recreation district, or sewerage district created by the governing authority of a parish, or school district, wholly within such parish, and if any such district is composed of territory located in more than one parish to assume that proportion of the debt of such district or districts which bears against that territory wholly within such parish upon the condition that the assumption of such debt or proportion of such debt shall be authorized by a vote of a majority of the electors of such parish who vote at an election held for that purpose; (2) debts assumed in accordance with Subpart C of Part 3 of Chapter 4 of Title 39 of the Louisiana Revised Statutes of 1950 as amended; or (3) to any refunding bonds issued for the purpose of readjusting, refunding, extending, or unifying the whole or any part of any such assumed indebtedness which may be issued as authorized by law.

Added by Acts 1975, No. 518, §1.