§ 39:998 — Sale of bonds

The bonds issued under the authority of this Part may be sold at a private sale at such price or prices as may be determined by the governing body of the municipality after publication by the municipality of a notice of intention to sell the bonds at such a private sale. Said notice shall be published in a newspaper of general circulation, published in the parish where the entity issuing the bonds is located or has its domicile and also in a newspaper of general circulation or financial journal or newspaper containing a section devoted to municipal bond news published in either of the cities of New Orleans, Louisiana, or New York, New York, such publications to be made at least seven days in advance of the date scheduled for the sale of the bonds. Subject to the resolution authorizing their issuance, the proceeds derived from the sale of the bonds shall be used for the purpose or purposes for which they are issued, including, but not by way of limitation, trustees' fees and expenses, underwriting fees and commissions and other financing charges.

Legislative History

Acts 1964, No. 520, §1. Amended by Acts 1972, No. 433, §1; Acts 1975, No. 598, §1, eff. July 17, 1975; Acts 1978, No. 401, §1, eff. July 10, 1978.