Louisiana Revised Statutes 39:461.7 – Limitation on indebtedness
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Terms Used In Louisiana Revised Statutes 39:461.7
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
The total amount of indebtedness outstanding at any one time and the amount appropriated from the state general fund for the current fiscal year by the interim emergency board as authorized by Article VII, Section 7 of thethe Louisiana Constitution shall not exceed one-tenth of one percent of total state revenue receipts for the previous fiscal year.
Added by Acts 1982, No. 502, §3.