§ 48:592 — Liquidation bonds

The bonding ordinance specified in R.S. 48:591 shall first order the preparation and execution of consolidated road district coupon bonds. These shall be of as many series as there are district bond issues and shall be called liquidation bonds. Except as to date of issue, which may be the date when the last interest coupon of the district issue was paid, each series shall be as nearly as possible identical with a corresponding issue of district bonds in denominations, date of maturity, date of interest payment, rate, percent, and recitals. Each series shall bear a series number which shall identify it with the issue it is intended to liquidate.