§ 33:4053 — Effect of consolidation on authority to issue bonds; transfer of records

§4053. Effect of consolidation on authority to issue bonds; transfer of records
to consolidated district; assumption of outstanding indebtedness; rights
and privileges of consolidated district
At the expiration of such thirty day period, sewerage districts included
in any such consolidated district shall no longer have the right to issue bonds
and all books and records and assets thereof shall be transferred to the
consolidated district. Unless such consolidated district shall vote to assume
the indebtedness of each underlying district as hereinafter provided, it shall be
the duty of the governing authority of the consolidated district to cause taxes
to continue to be levied for the payment of the outstanding indebtedness of
each underlying district in all respects as would have been required had such
consolidation not been effected, except that where such indebtedness of any
underlying district consists of revenue bonds payable from service charges or
obligations payable from the proceeds of special assessments, the governing
authority shall continue to impose and collect such service charges and
assessments. Such taxes as may be levied by the governing authority of the
consolidated district in the underlying districts shall be entitled to the benefit
of the exemption and to the reimbursal authorized by R.S. 39:253.
Consolidated sewerage districts created under this Sub-part shall have
all rights, powers and privileges granted to and enjoyed by other sewerage
districts under the constitution and laws of Louisiana.
NOTE: Former R.S. 39:253 was repealed by Act No. 10 of the 1972
Extraordinary Session.

Legislative History

Added by Acts 1958, No. 276, §1, pars. 3, 4.