§ 47:338.41 — Regularity of proceedings; recital on bonds

Louisiana § 47:338.41

• Jurisdiction: Louisiana
• Title 47: Revenue and Taxation

Text

Before bonds are issued hereunder, the governing authority shall investigate and determine the regularity of the proceedings. The resolution authorizing the bonds may direct that they contain the following recital:
"It is certified that this bond is authorized by and is issued in conformity with the requirements of the constitution and statutes of this state."
Such recital shall be deemed to be an authorized declaration of the governing authority and to import that there is constitutional and statutory authority for issuing the bonds and imposing the tax; that all the proceedings therefor are regular; that all acts, conditions and things required to exist, happen and be performed precedent to and in the issuance of the bonds and imposition of the tax have existed, have happened and have been performed in due time, form and manner as required by law, that the amount of the bonds, together with all other indebtedness of the municipality, does not exceed any limit or limits prescribed by the constitution or statutes of the state. If any bonds are issued containing the above recital, the same shall be construed according to the import herein declared, and it shall be conclusively presumed that the recital is true, and neither the municipality nor any taxpayer thereof shall be permitted to question the validity or regularity of the obligations or tax in any court or in any action or proceeding.

Legislative History

Acts 1962, No. 300, §12; Redesignated from R.S. 33:2717.12 pursuant to Acts 2011, No. 248, §4.