§ 39:621 — Enactment declared to be under powers reserved to state by federal

§621. Enactment declared to be under powers reserved to state by federal
constitution and laws
The legislature declares that it enacts R.S. 39:619 through 622 in the exercise
of the powers reserved to the state by the tenth amendment to the constitution of the
United States and by the Act of Congress approved May 24, 1934, c. 345, 48 Stat.
798, and in order to keep unimpaired the obligations of the contracts of the state, its
political subdivisions, public boards and corporations, parishes, municipalities, and
other taxing districts, and in their enforcement and payment to afford the holders of
such contracts the due process of law guaranteed to them by the constitutions of the
United States and the State of Louisiana. The legislature also declares that it enacts
this legislation in furtherance of the condition imposed by the Congress of the United
States for the confirmation of any plan of readjustment of debts authorized by the Act
of Congress approved May 24, 1934, c. 345, 48 Stat. 798, which condition is that no
such plan shall be confirmed by the courts of the United States unless the taxing
district, as defined in said Act, is authorized by law, upon confirmation of the plan,
to take all action necessary to carry out the plan.

Legislative History

Amended by Acts 1950, No. 316, §10.