§ 38:1547 — Adjustment, compromise and settlement of claims

In issuing, funding or refunding bonds under the provisions of this Part, the board of drainage commissioners of any drainage district or sub-drainage district may enter into any agreement or agreements with holders of outstanding bonds or other indebtedness, for the settlement, adjustment, and compromise of all amounts due thereunder or thereupon, as well as to adjust, compromise, and settle any and all claims against any and all bondholders or other persons who may own lands within the drainage district or sub-drainage district, whether growing out of the levy and assessment of acreage taxes against the lands, or otherwise, to the end of causing the redemption of lands located in any drainage district or sub-drainage district theretofore adjudicated to the state, or the drainage or sub-drainage district, all with a view of rehabilitating and reestablishing the integrity of the drainage district or sub-drainage district and placing the lands of the district upon the assessment rolls.