§2285. Issuance of bonds
A. The district, acting by and through the commission, with the approval of the State
Bond Commission, is authorized to incur debts for its lawful purposes, and to issue in its
name negotiable bonds or notes therefor, and to pledge for the payment of the principal and
interest of such negotiable bonds or notes the revenues derived from the operation of
properties and facilities maintained and operated by it or received by the commission from
any taxes authorized under this Chapter or from other sources.
B.
(1)No such bonds shall run for a longer period than forty years from the date of
issuance.
(2)Should the commission neglect or fail for any reason to impose or collect the
taxes for the payment of the principal and interest of any such bonds, any person in inter
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§2285. Issuance of bonds
A. The district, acting by and through the commission, with the approval of the State
Bond Commission, is authorized to incur debts for its lawful purposes, and to issue in its
name negotiable bonds or notes therefor, and to pledge for the payment of the principal and
interest of such negotiable bonds or notes the revenues derived from the operation of
properties and facilities maintained and operated by it or received by the commission from
any taxes authorized under this Chapter or from other sources.
B.(1) No such bonds shall run for a longer period than forty years from the date of
issuance.
(2) Should the commission neglect or fail for any reason to impose or collect the
taxes for the payment of the principal and interest of any such bonds, any person in interest
shall have a cause of action, enforceable in any court having jurisdiction of the subject
matter, to enforce the imposition and collection of such taxes.
(3) In addition to the pledge of revenues derived from taxes, the commission may
pledge for the payment of the principal and interest of such bonds, the revenues derived from
the operation of properties and facilities maintained and operated by it, or received by the
commission from other sources. The commission is authorized to pledge for the further
securing of the payment of the principal and interest of such bonds, all or any part of any
moneys received by the commission from the United States, the state of Louisiana, or any
political subdivision thereof, by gift, grant, donation or otherwise, unless otherwise provided
by the terms of such gift, grant or donation. In addition to the pledge of revenues to secure
said bonds, above stated, the commission may further secure their payment by conventional
mortgage upon any or all of the properties constructed or acquired or to be constructed or
acquired by it.
(4) Such bonds shall be authorized by a resolution of the commission and shall be
of such series, bear such date or dates, be in such denominations, be in such form, either
coupon or fully registered without coupons, carry such registration and exchangeability
privilege, be payable in such medium of payment and at such place or places and be subject
to such terms of redemption as such resolution may provide. The bonds shall be signed by
such officers as the commission shall determine, and coupon bonds shall have attached
thereto interest coupons bearing the facsimile signatures of the officer or officers of the
district it designates. Any such bonds may be issued and delivered, notwithstanding that one
or more of the officers signing such bonds or the officer or officers, whose facsimile
signature or signatures may be upon the coupons, shall have ceased to be such officer or
officers at the time the bonds shall actually have been delivered.