Title 39, Public Finance
0 chapters · 1,355 sections in this title.
La. Rev. Stat. § 39:466.11 Authorization to buildings, structures and facilities
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§466.11. Authorization to buildings, structures and facilities The State Bond Commission is hereby authorized and directed to obtain funds not in excess of eleven million dollars for the construction by the Capital Construction and Improvement Commission of buildings, structures …
La. Rev. Stat. § 39:466.12 Bonds
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§466.12. Bonds A. To provide said funds for such capital outlay, the State Bond Commission is authorized to borrow money and issue and sell bonds and other obligations of the state of Louisiana subject to the first paragraph of Article IV, Section 2 of the Constitution of Louisia…
La. Rev. Stat. § 39:466.13 Powers
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§466.13. Powers The Capital Construction and Improvement Commission is hereby vested with all powers necessary or convenient to carry out the purpose of this Chapter with respect to the construction of the buildings, structures and other facilities comprising the capital outlay p…
La. Rev. Stat. § 39:466.2 Repealed by Acts 2010, No
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§466.2. Repealed by Acts 2010, No. 743, §15B, eff. July 1, 2010.
La. Rev. Stat. § 39:466.3 Repealed by Acts 2010, No
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§466.3. Repealed by Acts 2010, No. 743, §15B, eff. July 1, 2010.
La. Rev. Stat. § 39:466.4 Repealed by Acts 2010, No
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§466.4. Repealed by Acts 2010, No. 743, §15B, eff. July 1, 2010.
La. Rev. Stat. § 39:466.5 Repealed by Acts 2010, No
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§466.5. Repealed by Acts 2010, No. 743, §15B, eff. July 1, 2010.
La. Rev. Stat. § 39:466.6 Repealed by Acts 2010, No
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§466.6. Repealed by Acts 2010, No. 743, §15B, eff. July 1, 2010.
La. Rev. Stat. § 39:466.7 Repealed by Acts 2010, No
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§466.7. Repealed by Acts 2010, No. 743, §15B, eff. July 1, 2010.
La. Rev. Stat. § 39:467 Sales of services and tangible personal property at a publicly owned domed stadium
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§467. Sales of services and tangible personal property at a publicly owned domed stadium facility or baseball facility; sales and use tax; exemptions A. Definitions. For purposes of this Chapter the following terms and phrases shall have the following meanings: (1) "Event" means …
La. Rev. Stat. § 39:468 Sales of services and tangible personal property at certain public facilities; sales and
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§468. Sales of services and tangible personal property at certain public facilities; sales and use tax; exemptions A. The provisions of this Section shall apply to any public facility that is not subject to the provisions of R.S. 39:467. Sales occurring at an event conducted at a…
La. Rev. Stat. § 39:469 Tax rebate; publicly-owned facility activity
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§469. Tax rebate; publicly-owned facility activity A. As used in this Section, the following words and expressions shall have the meanings provided in this Subsection, unless the context clearly requires otherwise: (1) "Public facility" means a stadium facility owned and operated…
La. Rev. Stat. § 39:471 Governing authorities
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§471. Governing authorities The following governing authorities of subdivisions are: (1) For parishes and roads and subroad districts, the police jury or the equivalent; (2) For cities, towns, villages and sewerage districts composed of territory within their corporate limits, th…
La. Rev. Stat. § 39:471.1 Certain home rule charter parishes
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§471.1. Certain home rule charter parishes Pursuant to Article VI, Section 6 of the Constitution of Louisiana, in any parish which operates under a home rule charter which provides for the governing authority of any road, subroad, waterworks, subwaterworks, sewerage, gravity drai…
La. Rev. Stat. § 39:472 Interest on default in paying certificates of indebtedness
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§472. Interest on default in paying certificates of indebtedness Any certificate of indebtedness issued by any police jury of this state, and any resolution or ordinance authorizing these certificates, shall contain a provision that in case of default in the payment of principal …
La. Rev. Stat. § 39:473 Facsimile signatures on securities of state or political subdivisions
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§473. Facsimile signatures on securities of state or political subdivisions A. Notwithstanding any other law to the contrary, public securities heretofore or hereafter authorized to be issued and delivered at any one time in a principal amount of one hundred thousand dollars or m…
La. Rev. Stat. § 39:5 Commissioner of administration; bond
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§5. Commissioner of administration; bond A. The commissioner of administration shall, under supervision of the governor, direct the activities of the division of administration and such other subdivisions thereof as are created by the governor. The commissioner shall be appointed…
La. Rev. Stat. § 39:501 Designation
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§501. Designation This Part may be referred to as the "Consolidated Local Government Public Finance Act". Acts 2018, No. 569, §1, eff. July 1, 2018.
La. Rev. Stat. § 39:502 Purposes, rules of construction
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§502. Purposes, rules of construction A. The purposes of this Part are to clarify, modernize, and make uniform the laws relating to the powers of parishes, municipalities, school boards, school districts, and other political subdivisions of the state to incur debt and to issue bo…
La. Rev. Stat. § 39:503 Definitions
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§503. Definitions As used in this Part, the following words, terms, and phrases shall have the meanings ascribed to them in this Section, except where the context clearly indicates a different meaning: (1) "Bond" or "bonds" means any bonds, notes, warrants, certificates of indebt…
La. Rev. Stat. § 39:504 Statutory lien
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§504. Statutory lien A. It is the intention of the legislature that bonds issued by a governmental entity under this Part, or under any other statutory authority referenced herein, shall be secured debt entitled to the highest possible protection and priority afforded by the bank…
La. Rev. Stat. § 39:505 Authorization, sale, execution, and registration of bonds
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§505. Authorization, sale, execution, and registration of bonds A. Each governing authority shall have authority to adopt all proceedings necessary for the authorization, sale, and delivery of bonds, including the right to enter into all contractual arrangements as may be necessa…
La. Rev. Stat. § 39:506 Rights of bondholders
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§506. Rights of bondholders A. Any owner of bonds issued under this Part may by suit, action, mandamus, or other proceedings, protect and enforce the statutory lien provided by this Part as well as the security provided for such bonds or the repayment thereof by the proceedings a…
La. Rev. Stat. § 39:507 Validity of bonds; recital of regularity
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§507. Validity of bonds; recital of regularity A. Before bonds are issued under this Part, the governing authority shall investigate and determine the regularity of the proceedings. The proceedings authorizing the bonds may direct that the bonds contain the following recital: "It…
La. Rev. Stat. § 39:508 Applicability of general bond laws
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§508. Applicability of general bond laws Bonds issued under this Part shall be further subject to R.S. 39:244, Chapters 13, 13-A, and 14 of Subtitle III all of this Title, provided that in the event of any conflict between this Part and the provisions of said R.S. 39:244, Chapter…
La. Rev. Stat. § 39:509 Peremption
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§509. Peremption Every ordinance or resolution authorizing the issuance of bonds under this Part shall be published at least once in the official journal of the governmental entity issuing the bonds, or in a newspaper having general circulation therein. Exhibits to any such ordin…
La. Rev. Stat. § 39:51 General Appropriation Bill; other appropriation bills
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§51. General Appropriation Bill; other appropriation bills A.(1) The governor shall cause a General Appropriation Bill for the ordinary operating expenses of government to be introduced which shall be in conformity with the recommendations for appropriations contained in the budg…
La. Rev. Stat. § 39:51.1 General Appropriation Bill and other appropriation bills; nongovernmental entity
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§51.1. General Appropriation Bill and other appropriation bills; nongovernmental entity funding request form; exemptions A.(1)(a) No later than the first day of November each year any nongovernmental entity which is neither a budget unit nor a political subdivision of the state t…
La. Rev. Stat. § 39:510 Notice of default
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§510. Notice of default Any governmental entity that has issued bonds under this Part shall notify the State Bond Commission in writing when: (1) Any required deposit to any debt service sinking fund in connection with such bonds has not been made within five business days of whe…
La. Rev. Stat. § 39:511 Exemption from taxation; legal investments
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§511. Exemption from taxation; legal investments A. All bonds issued under this Part and the interest or other income thereon or with respect thereto shall be exempt from all income tax and other taxation in Louisiana. B. All bonds issued under this Part shall be legal and author…
La. Rev. Stat. § 39:512 Bonds negotiable and incontestable
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§512. Bonds negotiable and incontestable Bonds issued under this Part shall have all the qualities of negotiable paper and shall not be invalid for any irregularity or defect in the proceedings for their issuance and sale, and shall be incontestable in the hands of bona fide purc…
La. Rev. Stat. § 39:513 Application of proceeds
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§513. Application of proceeds A. The proceeds of bonds issued under this Part shall be used exclusively for the purpose or purposes for which the bonds are authorized to be issued, including but not limited to the payment of costs of issuance, the cost of funding any required deb…
La. Rev. Stat. § 39:514 Bond validation
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§514. Bond validation Bonds issued under this Part may be validated in accordance with Part XVI of Chapter 32 of Title 13 of the Louisiana Revised Statutes of 1950, or any successor laws relating to suits to determine validity of governmental bonds. Acts 2018, No. 569, §1, eff. J…
La. Rev. Stat. § 39:515 Lost, destroyed, or cancelled bonds
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§515. Lost, destroyed, or cancelled bonds A. Whenever any bond is lost, destroyed, or improperly cancelled, the issuing governmental entity may, by resolution of its governing body, authorize the issuance of new bonds to replace them, upon proof of such loss, destruction, or canc…
La. Rev. Stat. § 39:516 Employment of counsel; fees
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§516. Employment of counsel; fees The employment of counsel by a governmental entity in conjunction with the issuance of bonds under this Part, and the fees and compensation of such counsel shall be subject to approval by the attorney general and shall not exceed the attorney gen…
La. Rev. Stat. § 39:517 No other statutes applicable
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§517. No other statutes applicable This Part shall be a complete and additional method for the issuance and sale of bonds by any governmental entity, and this Part shall constitute full authority for the issuance and sale of the bonds authorized herein. No ordinance, resolution, …
La. Rev. Stat. § 39:52 Revenue bills
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§52. Revenue bills The governor may cause revenue raising bills to be introduced in accordance with the proposals submitted under authority of R.S. 39:38. Acts 1989, No. 836, §1, eff. July 1, 1989.
La. Rev. Stat. § 39:52.1 Change in expenditure limit
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§52.1. Change in expenditure limit A change to the expenditure limit shall be made pursuant to a concurrent resolution adopted by a favorable vote of two-thirds of the elected members of each house directing the commissioner of administration to change the expenditure limit to a …
La. Rev. Stat. § 39:521 General obligation bonds
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§521. General obligation bonds A. Any governmental entity may incur debt and issue general obligation bonds under the authority of Article VI, Section 33 of the Constitution of Louisiana and this Part, for the purpose of financing any capital expenditures related to the lawful pu…
La. Rev. Stat. § 39:522 Limited tax bonds secured by special ad valorem taxes
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§522. Limited tax bonds secured by special ad valorem taxes A. Any governmental entity may anticipate the revenues to be realized from special ad valorem taxes that are authorized to be levied pursuant to provisions of the constitution and laws of Louisiana by borrowing money to …
La. Rev. Stat. § 39:523 Sales tax bonds
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§523. Sales tax bonds A. A governmental entity that is authorized to levy and collect a sales tax or a municipality or school board that receives an allocation of a sales tax levied by a parish, may fund sales tax revenues into bonds and issue the bonds from time to time for the …
La. Rev. Stat. § 39:524 Revenue bonds
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§524. Revenue bonds A. Any governmental entity may issue revenue bonds to construct, acquire, extend, or improve any system or work of public improvement. Such bonds may be secured by a mortgage on the lands, buildings, machinery, and equipment so improved as well as by the pledg…
La. Rev. Stat. § 39:525 Limited revenue bonds secured by a parcel fee or service charge
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§525. Limited revenue bonds secured by a parcel fee or service charge A. Any governmental entity that is authorized to levy a parcel fee or service charge may anticipate the revenues to be realized from such parcel fee or service charge voted pursuant to provisions of the constit…
La. Rev. Stat. § 39:526 Excess revenue bonds and certificates of indebtedness
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§526. Excess revenue bonds and certificates of indebtedness A. Any governmental entity may issue excess revenue bonds or certificates of indebtedness under this Section for the purpose of acquiring, constructing, extending, or improving any work of public improvement, or for acqu…
La. Rev. Stat. § 39:527 Revenue anticipation notes
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§527. Revenue anticipation notes Any governmental entity, in order to pay its current expenses for any fiscal year, may issue revenue anticipation notes for the purpose of anticipating the revenues for such fiscal year. Such revenue anticipation notes shall mature not later than …
La. Rev. Stat. § 39:528 Bond anticipation notes
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§528. Bond anticipation notes A. Any governmental entity may authorize the issuance of bond anticipation notes in one or more series in anticipation of the issuance of bonds which it has duly and lawfully authorized. The proceeds of the sale of such notes, exclusive of accrued in…
La. Rev. Stat. § 39:529 Grant anticipation notes
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§529. Grant anticipation notes A. A governmental entity may issue a grant anticipation note or notes in anticipation of and upon the security of specified accounts receivable from the state or the federal government, including without limitation, grants, loans, or a combination o…
La. Rev. Stat. § 39:53 Adoption of financial plan
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§53. Adoption of financial plan A. The financial plan presented in the executive budget shall be adopted by the passage of such appropriation and revenue acts and such other acts as the legislature may deem necessary to make the financial plan effective and with such amendments a…
La. Rev. Stat. § 39:530 Assessment certificates
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§530. Assessment certificates Governmental entities are authorized to issue bonds to finance works of public improvement secured by local or special assessments imposed pursuant to the provisions of Article VI, Section 36 of the Constitution of Louisiana. The certificates shall b…
La. Rev. Stat. § 39:531 Refunding bonds
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§531. Refunding bonds A. In addition to any other authority therefor, any governmental entity is authorized to issue refunding bonds for the purpose of refunding, readjusting, restructuring, refinancing, extending, or unifying the whole or any part of its outstanding bonds in an …