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2018 Louisiana Laws
Revised Statutes
TITLE 38 - Public Contracts, Works and Improvements
RS 38:473 - Interest on bonds
Universal Citation: LA Rev Stat § 38:473 (2018)
§473. Interest on bonds
The interest on the bonds shall be paid out of funds arising from the collection of taxes and other revenues of the levee board or levee and drainage board, and the state treasurer shall pay any interest that may be due on the bonds when presented by any bona fide holder or holders of the bonds. A sufficient amount of the taxes and revenues shall always remain on hand to pay one-half year's interest on the bonds and shall not be diverted to any other purpose by any authority whatever, except as may be necessary to pay the principal and interest of the bonds already issued by the levee board.
Acts 1985, No. 785, §1, eff. July 22, 1985.
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