Louisiana Revised Statutes 33:7837 – Bonds
Terms Used In Louisiana Revised Statutes 33:7837
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
A. For the purpose of acquiring, constructing, extending, or improving water, sewer, and sewage treatment or disposal facilities, or any combination of these, the commission may issue bonds or other debt obligations in the manner and under the terms and provisions as provided in Part VII or Part XIII of Chapter 4 of Subtitle II of Title 39 of the Louisiana Revised Statutes of 1950, as amended. Such bonds or other debt obligations shall not be a charge upon the other income and revenues of the commission which are not pledged to the payment of the bonds, or of any other political subdivision of the state of Louisiana. Any project or undertaking by the commission from which revenue is or will be derived, whether by lease, rents, fees, charges, or otherwise, shall be considered a revenue producing work of public improvement of the commission.
B. For the purpose of acquiring, constructing, maintaining, operating, or improving water, sewer, or sewage treatment or disposal facilities, or any combination of these, the commission, acting through the board, may also, under La. Const. Art. VI, § 32 levy special taxes when authorized by a vote of a majority of the electors of the area contained within the boundaries of the commission who vote thereon at an election held for that purpose in accordance with law.
C. The issuance of any bonds or debt obligations or the levy of special taxes by the commission, shall be approved by the State Bond Commission and the parish governing authority, but no approval by any underlying district or any other entity shall be required.
Acts 1988, No. 259, §1, eff. July 7, 1988.