§ 39:1410.66 — Filing of bond transcripts

Louisiana § 39:1410.66

• Jurisdiction: Louisiana
• Title 39: Procurement and Contract

Text

A. Within six months of the closing of a bond issue or other evidence of debt by a political subdivision, the bond counsel shall transmit the bond transcript to the political subdivision. A copy of the transmittal letter shall also be filed with the State Bond Commission.
B. Any bond counsel who violates this Section shall be subject to a civil penalty of not more than five thousand dollars as determined by the State Bond Commission. The State Bond Commission shall adopt rules and regulations to provide for the enforcement of this civil penalty.
C. For purposes of this Section:
(1) "Bond transcript" shall mean all relevant documents related to the bond or debt issue, including but not limited to the authorizing ordinance or resolution, debt instrument, amortization schedule, indenture or loan agreement, publication notice, bond counsel opinion, and special tax counsel opinion.
(2) "Political subdivision" shall mean municipalities, parishes, and school boards.

Legislative History

Acts 1999, No. 508, §1.