Louisiana Revised Statutes 48:1266 – Refunding bonds
Terms Used In Louisiana Revised Statutes 48:1266
- Authority: shall mean the Department of Transportation and Development. See Louisiana Revised Statutes 48:1253
- expressway project: shall mean any limited access express highway, bridge, tunnel, approach or facility thereto constructed or to be constructed under the provisions of this Chapter, including but not limited to bridges, tunnels, overpasses, underpasses, traffic circles, interchanges, feeder roads, landscaping, entrance plazas, approaches, toll houses, service areas, communication facilities, such facilities for motor fuel and food as the authority may deem necessary or desirable, and administration, storage and other buildings which the authority may deem necessary for the operation of such project, together with all property, rights, easements and interests which may be acquired by the authority for the construction or the operation of such project. See Louisiana Revised Statutes 48:1253
- revenue bonds: shall mean bonds of the authority authorized under the provisions of this Chapter. See Louisiana Revised Statutes 48:1253
The authority is hereby authorized to provide for the issuance of expressway revenue refunding bonds of the authority for the purpose of refunding any bonds then outstanding which shall have been issued under the provisions of this Chapter, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of such bonds, and, if deemed advisable by the authority, for the additional purpose of constructing improvements of an expressway project in connection with which the bonds to be refunded shall have been issued. The authority is further authorized to provide by resolution for the issuance of its expressway revenue bonds for the combined purpose of (a) refunding any bonds then outstanding which shall have been issued under the provisions of this Chapter, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of such bonds, and (b) paying all or any part of the cost of any additional project or projects. The issuance of such bonds, the maturities and other details thereof, the rights of the holders thereof, and the rights, duties and obligations of the authority in respect of the same, shall be governed by the provisions of this Chapter in so far as the same may be applicable.
Acts 1954, No. 232, §16.