§ 38:496 — Deposit of bonds with state treasurer; withdrawal

Louisiana § 38:496

• Jurisdiction: Louisiana
• Title 38: Public Contracts, Works and Improvements

Text

The bonds authorized by R.S. 38:491 shall be deposited with the state treasurer as soon as they have been printed; and before the bonds have been signed by the president of the board and attested by the signature of the secretary of the board of commissioners as provided by R.S. 38:492, they shall be registered at the office of the auditor who shall keep a record of the bonds. The bonds shall not be withdrawn from the treasury of the state except upon the warrant of the state auditor issued upon the order of the board of commissioners and countersigned by the secretary and in pursuance of a resolution of the board adopted at a regular meeting and shall not be withdrawn except after having all matured coupons removed. All matured coupons taken from the bonds shall be cancelled by the treasurer. The auditor and treasurer of the state shall keep a record of the bonds and of the coupons, subject to the inspection of any persons interested, and the bonds thus withdrawn from the treasury shall be conclusively presumed to have been executed, issued, and negotiated by the board.

Legislative History

Acts 1985, No. 785, §1, eff. July 22, 1985.