Louisiana Revised Statutes 38:1575 – No dissolution without consent of bondholders or retirement of bonds
Current as of: 2024 | Check for updates
|
Other versions
If the drainage district or subdrainage district has bonds issued and outstanding, the resolution dissolving the drainage district or subdrainage district shall not become effective until the holders of all outstanding bonds have filed with the governing authority thereof their written consent to the dissolution or until the outstanding bonded indebtedness has been retired.