§ 49:199 — Special provisions for entities with bonds outstanding

Notwithstanding any other provisions of this Part to the contrary, no entity which has bonds outstanding shall be abolished until and unless provision is made for the payment of principal and interest of said bonds at or before maturity or for the assumption of such indebtedness by the state or any agency or subdivision thereof.

Legislative History

Added by Acts 1976, No. 277, §10.