Louisiana § 38:475 Taxes and local contributions for payment of interest; setting apart amount necessary

Louisiana Statutes

§ 38:475 — Taxes and local contributions for payment of interest; setting apart amount necessary

Louisiana·Title 38 Public Contracts, Works and Improvements

For the purpose of paying the interest on the bonds, the board of commissioners of the levee district or levee and drainage district shall annually levy, in an amount sufficient for that purpose, taxes and local contributions which they are authorized and empowered to levy as well as taxes and local contributions which it may hereafter be authorized to levy. From the first money realized from the taxes and local contributions, the state treasurer shall set apart annually an amount necessary to pay the interest and the money thus set apart shall not be diverted to any other purpose.

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For the purpose of paying the interest on the bonds, the board of commissioners of the levee district or levee and drainage district shall annually levy, in an amount sufficient for that purpose, taxes and local contributions which they are authorized and empowered to levy as well as taxes and local contributions which it may hereafter be authorized to levy. From the first money realized from the taxes and local contributions, the state treasurer shall set apart annually an amount necessary to pay the interest and the money thus set apart shall not be diverted to any other purpose.

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