Louisiana § 38:476 Taxes and local contributions for payment of principal; setting apart sufficient amount

Louisiana Statutes

§ 38:476 — Taxes and local contributions for payment of principal; setting apart sufficient amount

Louisiana § 38:476

Title 38Public Contracts, Works and Improvements

This text of Louisiana § 38:476 (Taxes and local contributions for payment of principal; setting apart sufficient amount) 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. § 38:476 (2026).

Text

For the purpose of providing for the payment of the principal of the bonds issued under this Subpart as they mature, the levee board or levee and drainage board shall levy in an amount sufficient to pay the bonds maturing in each year the taxes and local contributions which they are authorized and empowered to levy, as well as any taxes and local contributions which they may hereafter be authorized to levy. From the first moneys realized from the taxes and local contributions, the state treasurer after providing for the payment of the principal and interest of the bonds shall set apart an amount sufficient to pay the principal of the bonds maturing that year, and the money thus set apart shall not be diverted to any other purpose.

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For the purpose of providing for the payment of the principal of the bonds issued under this Subpart as they mature, the levee board or levee and drainage board shall levy in an amount sufficient to pay the bonds maturing in each year the taxes and local contributions which they are authorized and empowered to levy, as well as any taxes and local contributions which they may hereafter be authorized to levy. From the first moneys realized from the taxes and local contributions, the state treasurer after providing for the payment of the principal and interest of the bonds shall set apart an amount sufficient to pay the principal of the bonds maturing that year, and the money thus set apart shall not be diverted to any other purpose.