Louisiana Revised Statutes 39:1119 – Setting aside of taxes
Terms Used In Louisiana Revised Statutes 39:1119
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
The governing authority of any political subdivision issuing bonds hereunder, shall set aside in a separate fund each year during the life of the bonds and until such bonds shall have been paid in full in principal and interest, the proceeds from the collection of the tax pledged and dedicated to the payment of the principal and interest of the bonds authorized and issued. Should any subdivision neglect or fail, for any reason, to thus set aside the proceeds from the collection of the tax, any person in interest may enforce the setting aside thereof in any court having jurisdiction of the subject matter, and any suit, action or proceeding brought by such person in interest, shall be a preferred cause and shall be heard and disposed of without delay.