Louisiana § 38:473 Interest on bonds

Louisiana Statutes

§ 38:473 — Interest on bonds

Louisiana § 38:473

Title 38Public Contracts, Works and Improvements

This text of Louisiana § 38:473 (Interest on bonds) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

La. Stat. Ann. § 38:473 (2026).

Text

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.

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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.