Title 39, Public Finance
0 chapters · 1,355 sections in this title.
La. Rev. Stat. § 39:98.6 Security to be furnished for appeal and other purposes; Master Settlement Agreement
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§98.6. Security to be furnished for appeal and other purposes; Master Settlement Agreement In order to secure and protect the monies to be received as a result of the Master Settlement Agreement, in civil litigation under any legal theory involving a signatory, or successor of a …
La. Rev. Stat. § 39:98.7 Tobacco Settlement Enforcement Fund
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§98.7. Tobacco Settlement Enforcement Fund A. The Tobacco Settlement Enforcement Fund, hereinafter referred to as the "fund", is hereby created in the state treasury. The fund shall consist of monies appropriated to the fund by the legislature, grants, donations, other monies whi…
La. Rev. Stat. § 39:99 Investment contracts; definitions; obligations of state treasurer; obligations of participating school boards; contractual requirements
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§99. Investment contracts; definitions; obligations of state treasurer; obligations of participating school boards; contractual requirements A. As used in this Section the following terms shall have the meanings provided in this Subsection unless the context clearly requires othe…
La. Rev. Stat. § 39:99.1 Title
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§99.1. Title This Subpart shall be known and may be cited as the "Tobacco Settlement Financing Corporation Act". Acts 2001, No. 1145, §1.
La. Rev. Stat. § 39:99.10 Bankruptcy
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§99.10. Bankruptcy Prior to the date that is one year and one day after which the corporation no longer has any bonds outstanding, the corporation is prohibited from filing and shall have no authority to file a voluntary petition under the federal bankruptcy code as it may, from …
La. Rev. Stat. § 39:99.11 Exclusive jurisdiction and venue; service of process; bond validation actions
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§99.11. Exclusive jurisdiction and venue; service of process; bond validation actions The Nineteenth Judicial District Court for the state of Louisiana shall have exclusive jurisdiction and venue of any suit or action of any nature brought by or against the corporation. Any suit …
La. Rev. Stat. § 39:99.12 Sale of tobacco assets
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§99.12. Sale of tobacco assets A.(1) Subject to the conditions and declarations set forth in Subsection B hereof, the State Bond Commission subject to approval of the Joint Legislative Committee on the Budget and subject to approval by a majority vote of the legislature if the le…
La. Rev. Stat. § 39:99.13 Ownership of tobacco assets and tobacco settlement payments
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§99.13. Ownership of tobacco assets and tobacco settlement payments On and after the effective date of each sale of tobacco assets, the state of Louisiana shall have no right, title or interest in or to the tobacco assets sold and conveyed; and the tobacco settlement payments sha…
La. Rev. Stat. § 39:99.14 Issuance of bonds of the corporation
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§99.14. Issuance of bonds of the corporation A. In order to provide current assets and funds for the Millennium Trust pursuant to this Subpart for the benefit of the state, the board is hereby authorized and empowered to provide by resolution, at one time or from time to time, fo…
La. Rev. Stat. § 39:99.15 Security for payment of bonds; provisions of trust indenture or resolution
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§99.15. Security for payment of bonds; provisions of trust indenture or resolution A. In the discretion of the board, any bonds issued, and any ancillary contracts or swaps made under the provisions of this Subpart, may be secured by a trust indenture by and between the corporati…
La. Rev. Stat. § 39:99.16 Ancillary contracts and swaps
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§99.16. Ancillary contracts and swaps A. The corporation may enter into, amend, or terminate, as it determines to be necessary or appropriate, any ancillary contracts (i) to facilitate the issuance, sale, resale, purchase, repurchase, or payments of bonds, including without limit…
La. Rev. Stat. § 39:99.17 Bonds exempt from taxation
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§99.17. Bonds exempt from taxation The bonds, their transfer and the income therefrom, including any profit made on the sale thereof, shall at all times be free and exempt from taxation by the state of Louisiana and by any other political subdivision of the state. Acts 2001, No. …
La. Rev. Stat. § 39:99.18 Bond and other proceeds received by the state
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§99.18. Bond and other proceeds received by the state All proceeds and monies received by the state, whether received as purchase price for the tobacco assets sold or as the residual interests or in any other way pursuant to this Subpart, shall be deposited in and credited to the…
La. Rev. Stat. § 39:99.19 Pledge and agreement
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§99.19. Pledge and agreement The state covenants and agrees with the corporation, and the holders of the bonds in which the corporation has included such pledge and agreement, that the state will (i) irrevocably direct the escrow agent and independent auditor under the master set…
La. Rev. Stat. § 39:99.2 Legislative findings and intent
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§99.2. Legislative findings and intent The major United States tobacco manufacturers and forty-six states (including the state of Louisiana) and other districts and territories of the United States have entered into a master settlement agreement that should result in Louisiana re…
La. Rev. Stat. § 39:99.20 Construction and effect
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§99.20. Construction and effect This Subpart and all powers granted hereby shall be liberally construed to effectuate its and their purposes, without implied limitations thereon. This Subpart shall constitute full and complete authority for all things herein contemplated to be do…
La. Rev. Stat. § 39:99.26 Title
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§99.26. Title This Subpart shall be known and may be cited as the "Coastal Protection and Restoration Financing Corporation". Acts 2007, No. 249, §1, eff. July 6, 2007.
La. Rev. Stat. § 39:99.27 Definitions
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§99.27. Definitions As used in this Subpart: (1) "Agreement" means the agreement or agreements, as authorized under this Subpart, between the state of Louisiana, as the seller, and the corporation, as the purchaser, of the revenue assets. The sale by the state of the revenue asse…
La. Rev. Stat. § 39:99.28 Corporation created; domicile; fiscal year
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§99.28. Corporation created; domicile; fiscal year The corporation is created as a special purpose, public corporate entity, an instrumentality independent of the state. The corporation shall be a public corporate body, intended, created and empowered to effectuate only the purpo…
La. Rev. Stat. § 39:99.29 Governing board; membership; terms; compensation and expenses; chairman and
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§99.29. Governing board; membership; terms; compensation and expenses; chairman and vice chairman; quorum; employees; agents; limitation of liability A. The board of the corporation shall exercise all powers, rights, and duties conferred by this Subpart or other provisions of law…
La. Rev. Stat. § 39:99.3 Definitions
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§99.3. Definitions As used in this Subpart: (1) "Agreement" means the agreement or agreements, as authorized under this Subpart, between the state of Louisiana, as the seller, and the corporation, as the purchaser, of the tobacco assets. The sale by the state of the tobacco asset…
La. Rev. Stat. § 39:99.30 Purposes and powers
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§99.30. Purposes and powers A. The corporation's purposes are, and it shall have the authority and powers, to carry out the financing, purchasing, owning, and managing of the Offshore Royalty Revenues and the Offshore Royalty Revenue Assets, the DWH NRD revenues and the DWH NRD a…
La. Rev. Stat. § 39:99.31 Corporate existence; dissolution
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§99.31. Corporate existence; dissolution The corporation shall have perpetual existence; provided, however, the board shall dissolve and terminate the existence of the corporation no later than two years after the date of final payment of all outstanding bonds and the payments or…
La. Rev. Stat. § 39:99.32 Staff; counsel; assistance by state officers, departments and agencies; auditors; consultants
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§99.32. Staff; counsel; assistance by state officers, departments and agencies; auditors; consultants A. The staff of the Department of the Treasury, including that of the State Bond Commission, may, pursuant to a cooperative endeavor agreement, serve as staff to the corporation …
La. Rev. Stat. § 39:99.33 Exemption from taxation
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§99.33. Exemption from taxation The exercise of the powers and authorities granted by this Subpart shall be in all respects for the benefit of the citizens of the state of Louisiana and for the promotion of their welfare, convenience and prosperity. Property of the corporation, w…
La. Rev. Stat. § 39:99.34 Bankruptcy
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§99.34. Bankruptcy Prior to the date that is one year and one day after which the corporation no longer has any bonds outstanding, the corporation is prohibited from filing and shall have no authority to file a voluntary petition under the federal bankruptcy code as it may, from …
La. Rev. Stat. § 39:99.35 Exclusive jurisdiction and venue; service of process; bond validation actions
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§99.35. Exclusive jurisdiction and venue; service of process; bond validation actions The Nineteenth Judicial District Court for the state of Louisiana shall have exclusive jurisdiction and venue of any suit or action of any nature brought by or against the corporation. Any suit …
La. Rev. Stat. § 39:99.36 Sale of offshore royalty revenue assets
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§99.36. Sale of offshore royalty revenue assets A. The State Bond Commission subject to approval of the Joint Legislative Committee on the Budget and subject to approval by a majority vote of the legislature if the legislature is in session and by mail ballot during the interim, …
La. Rev. Stat. § 39:99.37 Ownership of Offshore Royalty Revenue assets and Offshore Royalty Revenue payments
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§99.37. Ownership of Offshore Royalty Revenue assets and Offshore Royalty Revenue payments On and after the effective date of each sale of Offshore Royalty Revenue assets, the state of Louisiana shall have no right, title or interest in or to the Offshore Royalty Revenue assets s…
La. Rev. Stat. § 39:99.38 Issuance of offshore royalty revenue bonds of the corporation
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§99.38. Issuance of offshore royalty revenue bonds of the corporation A. In order to provide current assets and funds for the Coastal Protection and Restoration Fund pursuant to this Subpart for the benefit of the state, the board is hereby authorized and empowered to provide by …
La. Rev. Stat. § 39:99.39 Security for payment of bonds; provisions of trust indenture or resolution
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§99.39. Security for payment of bonds; provisions of trust indenture or resolution A. In the discretion of the board, any bonds issued, and any ancillary contracts or derivative instruments made under the provisions of this Subpart, may be secured by a trust indenture by and betw…
La. Rev. Stat. § 39:99.4 Corporation created; domicile; fiscal year
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§99.4. Corporation created; domicile; fiscal year The Tobacco Settlement Financing Corporation is created as a special purpose, public corporate entity, an instrumentality independent of the state. The corporation shall be a public corporate body, intended, created and empowered …
La. Rev. Stat. § 39:99.40 Ancillary contracts and derivative instruments
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§99.40. Ancillary contracts and derivative instruments A. The corporation may enter into, amend, or terminate, as it determines to be necessary or appropriate, any ancillary contracts (i) to facilitate the issuance, sale, resale, purchase, repurchase, or payments of bonds, includ…
La. Rev. Stat. § 39:99.41 DWH NRD revenue
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§99.41. DWH NRD revenue A. Sale of DWH NRD assets. (1) The State Bond Commission, subject to approval of the Joint Legislative Committee on the Budget and subject to approval by a majority vote of the legislature if the legislature is in session and by mail ballot if during the i…
La. Rev. Stat. § 39:99.42 RESTORE revenue
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§99.42. RESTORE revenue A. Sale of RESTORE assets. (1) The State Bond Commission, subject to approval of the Joint Legislative Committee on the Budget and subject to approval by a majority vote of the legislature if the legislature is in session and by mail ballot during the inte…
La. Rev. Stat. § 39:99.43 Bonds exempt from taxation
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§99.43. Bonds exempt from taxation The bonds, their transfer and the income therefrom, including any profit made on the sale thereof, shall at all times be free and exempt from taxation by the state of Louisiana and by any other political subdivision of the state. Acts 2007, No. …
La. Rev. Stat. § 39:99.44 Bond and other proceeds received by the state
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§99.44. Bond and other proceeds received by the state All proceeds and monies received by the state, whether received as purchase price for assets sold or as the residual interests or in any other way pursuant to this Subpart, shall be deposited in and credited to the Coastal Pro…
La. Rev. Stat. § 39:99.45 Pledge and agreement
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§99.45. Pledge and agreement A. The state covenants and agrees with the corporation, and the holders of the bonds in which the corporation has included such pledge and agreement, that the state will (i) irrevocably direct the U.S. Department of the Interior or any successor agenc…
La. Rev. Stat. § 39:99.46 Construction and effect
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§99.46. Construction and effect This Subpart and all powers granted hereby shall be liberally construed to effectuate its and their purposes, without implied limitations thereon. This Subpart shall constitute full and complete authority for all things herein contemplated to be do…
La. Rev. Stat. § 39:99.5 Governing board; membership; terms; compensation and expenses; chairman and vice chairman; quorum; employees, agents; limitation of liability
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§99.5. Governing board; membership; terms; compensation and expenses; chairman and vice chairman; quorum; employees, agents; limitation of liability A. The board of the corporation shall exercise all powers, rights, and duties conferred by this Subpart or other provisions of law …
La. Rev. Stat. § 39:99.6 Purposes and powers of the corporation
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§99.6. Purposes and powers of the corporation A. The corporation's purposes are, and it shall have the authority and powers, to carry out the financing, purchasing, owning and managing of the tobacco assets and activities incidental thereto, the corporation being vested (subject …
La. Rev. Stat. § 39:99.7 Corporate existence; dissolution
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§99.7. Corporate existence; dissolution The corporation shall have perpetual existence; provided, however, the board shall dissolve and terminate the existence of the corporation no later than two years after the date of final payment of all outstanding bonds and the payments or …
La. Rev. Stat. § 39:99.8 Staff; counsel; assistance by state officers, departments and agencies; auditors; consultants
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§99.8. Staff; counsel; assistance by state officers, departments and agencies; auditors; consultants A. The staff of the Department of the Treasury, including that of the State Bond Commission, may, pursuant to a cooperative endeavor agreement, serve as staff to the corporation u…
La. Rev. Stat. § 39:99.9 Exemption from taxation
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§99.9. Exemption from taxation The exercise of the powers and authorities granted by this Subpart shall be in all respects for the benefit of the citizens of the state of Louisiana and for the promotion of their welfare, convenience and prosperity. Property of the corporation, wh…
La. Rev. Stat. § 39:991 Authorization to issue revenue bonds
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§991. Authorization to issue revenue bonds In addition to any other authority conferred by the constitution and statutes of the state of Louisiana, any municipal corporation or any parish or any other political subdivision or taxing district authorized to issue bonds under R.S. 3…
La. Rev. Stat. § 39:991.1 Authorization to issue revenue bonds; South Louisiana Port Commission
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§991.1. Authorization to issue revenue bonds; South Louisiana Port Commission In addition to any authority conferred by other laws, the South Louisiana Port Commission created and now operating under the provisions of Chapter 30, Title 34 of the Louisiana Revised Statutes of 1950…
La. Rev. Stat. § 39:991.2 Authorization to issue revenue bonds; port commissions and port, harbor, and terminal districts
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§991.2. Authorization to issue revenue bonds; port commissions and port, harbor, and terminal districts In addition to any authority conferred by other laws, all port commissions and all port, harbor, and terminal districts, hereinafter referred to as commissions, shall constitut…
La. Rev. Stat. § 39:992 Resolution; nature and form of bonds
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§992. Resolution; nature and form of bonds Bonds issued under this Part shall be authorized by resolution of the governing body and shall be limited obligations of the municipality, the principal of and interest on which shall be payable solely from the income and revenue derived…
La. Rev. Stat. § 39:993 Mortgage and pledge; rights of bond holders
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§993. Mortgage and pledge; rights of bond holders Any bonds issued under the authority of this Part shall be payable from and secured by a pledge of the revenues herein above described and may be secured by a mortgage covering all or any part of the project or facility from which…
La. Rev. Stat. § 39:994 Priority of lien
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§994. Priority of lien If more than one series of bonds is issued hereunder, payable from the revenues of any project or facility acquired, constructed or improved from the proceeds of bonds issued under the provisions of this Part, priority of lien on such revenues shall depend …