Louisiana § 38:432 Bonds in lieu of outstanding bonds

Louisiana Statutes

§ 38:432 — Bonds in lieu of outstanding bonds

Louisiana·Title 38 Public Contracts, Works and Improvements

The intent of this Subpart is that the levee districts and levee and drainage districts may issue bonds in lieu of the bonds already authorized, not in addition thereto, but in carrying out the power to refund outstanding bonds into bonds under this Subpart. The bonds under this Subpart may be negotiated before the retirement of the outstanding bonds, but the proceeds of the bonds thus negotiated shall remain in the state treasury, as provided in R.S. 38:435.
{{NOTE: REGARDING R.S. 38:431-436, SEE ALSO R.S. 38:1117(A)(3) AS PER ACTS 1985, NO. 466, §2, WHICH MAY BE CONFLICTING.}}

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The intent of this Subpart is that the levee districts and levee and drainage districts may issue bonds in lieu of the bonds already authorized, not in addition thereto, but in carrying out the power to refund outstanding bonds into bonds under this Subpart. The bonds under this Subpart may be negotiated before the retirement of the outstanding bonds, but the proceeds of the bonds thus negotiated shall remain in the state treasury, as provided in R.S. 38:435.
{{NOTE: REGARDING R.S. 38:431-436, SEE ALSO R.S. 38:1117(A)(3) AS PER ACTS 1985, NO. 466, §2, WHICH MAY BE CONFLICTING.}}

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