Louisiana Revised Statutes 39:991 – Authorization to issue revenue bonds
Terms Used In Louisiana Revised Statutes 39:991
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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
In addition to any other authority conferred by the constitution and statutes of the state of Louisiana, any municipal corporation or any parish or any other political subdivision or taxing district authorized to issue bonds under La. Rev. Stat. 39:551.1, La. Rev. Stat. 39:551.2, or La. Rev. Stat. 34:340.1 through La. Rev. Stat. 34:340.6, all of which are hereinafter in this Part referred to as municipal corporation or municipality may, in order to encourage the location of or addition to industrial enterprises therein or adjoining thereto, issue revenue bonds and use the funds derived from the sale of such bonds to acquire, purchase, lease, rent, construct, or improve industrial plant sites and industrial plant buildings, including facilities for the generation of electricity and production of steam and other forms of energy, and pollution abatement and control facilities, and necessary property and appurtenances thereto, and may sell, lease, sublease, or otherwise dispose of, by suitable and appropriate contract, to any enterprise locating or existing within or adjoining such municipality, such sites, buildings and/or facilities, and appurtenances thereto, all or severally. The funds derived from the sale of such bonds may be disbursed in whole or in part upon completion of the facilities or any partial completion thereof as shall be provided in the contract between the municipality and the industrial enterprise to be aided, encouraged, or benefited. For the purposes of this Part, the governing body of the municipal corporation shall be the body empowered to authorize and issue other bonds of the municipal corporation under the provisions of La. Rev. Stat. 39:551.1, La. Rev. Stat. 39:551.2, or La. Rev. Stat. 34:340.1 through La. Rev. Stat. 34:340.6, and other constitutional and statutory authority supplemental thereto.
Acts 1964, No. 520, §1. Amended by Acts 1974, No. 620, §1; Acts 1975, No. 155, §2.