Title 39, Public Finance
0 chapters · 1,355 sections in this title.
La. Rev. Stat. § 39:115 Notice requirements
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§115. Notice requirements A. The office of facility planning and control shall send notice to all nonstate entities of the need to resubmit a capital outlay budget request for projects that do not receive a line of credit for the total amount of bond proceeds authorized in the Ca…
La. Rev. Stat. § 39:116 Capital Outlay reporting requirements; projects in any Capital Outlay Budget Act for eight or more years; completed projects
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§116. Capital Outlay reporting requirements; projects in any Capital Outlay Budget Act for eight or more years; completed projects A. The Joint Legislative Committee on Capital Outlay shall receive an annual reporting of capital outlay projects which have been active in the capit…
La. Rev. Stat. § 39:1171 Parish governing authorities, school boards and municipal corporations may appropriate portion of taxes to pay indebtedness
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§1171. Parish governing authorities, school boards and municipal corporations may appropriate portion of taxes to pay indebtedness Parish governing authorities, school boards and municipal corporations, the city of New Orleans excepted, may dedicate, appropriate and pledge not mo…
La. Rev. Stat. § 39:1172 Duty of governing authority when certificates are authorized
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§1172. Duty of governing authority when certificates are authorized The certificates shall be issued only when authorized by ordinance or resolution passed by the governing authority issuing them and when certificates have been so authorized the governing authority shall dedicate…
La. Rev. Stat. § 39:1173 To whom certificates of indebtedness may be issued
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§1173. To whom certificates of indebtedness may be issued For the purpose of evidencing the indebtedness, the governing authorities of parishes, school boards and municipal corporations, subject to the conditions hereinafter prescribed in this Chapter, may issue to any creditor, …
La. Rev. Stat. § 39:1174 Supplementary method of paying claims
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§1174. Supplementary method of paying claims As an additional and supplementary method of paying and liquidating the claims, accounts or charges composing the aforesaid indebtedness, the governing authorities of municipal corporations, parishes, and school boards may fund the ava…
La. Rev. Stat. § 39:1175 Contest
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§1175. Contest For a period of thirty days after the promulgation of any resolution issuing the certificates of indebtedness as provided for in this Chapter, in whole or in part, any party in interest shall have the right of action in any court of competent jurisdiction to contes…
La. Rev. Stat. § 39:1176 Form of certificates
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§1176. Form of certificates The certificates of indebtedness shall be executed and signed by the president and secretary or clerk of the parish governing body or school board, or by the mayor and secretary or clerk of the municipal corporation issuing them, or by other officials …
La. Rev. Stat. § 39:1177 Sale of certificates, par; interest
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§1177. Sale of certificates, par; interest The certificates of indebtedness may be sold at either private or public sale within the discretion of the issuing bodies but no certificate shall be sold for less than par plus accrued interest to the date of delivery, and no certificat…
La. Rev. Stat. § 39:1178 Sale of certificates; publication
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§1178. Sale of certificates; publication A. If the issuing bodies deem it to their best financial interest to sell the certificates at public sale, then all certificates issued by authority of this Chapter shall be advertised for sale on sealed bids, and the advertisements shall …
La. Rev. Stat. § 39:1179 Proceeds of sale of certificates to go into special fund
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§1179. Proceeds of sale of certificates to go into special fund The proceeds from the sale of the certificates shall be deposited in a separate and special fund and used exclusively for the payment, satisfaction and liquidation of the claims, accounts or charges composing the ind…
La. Rev. Stat. § 39:12 Powers and duties
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§12. Powers and duties A. The commissioner of administration may adopt rules and regulations to: (1) Require that all state property in the name of any state agency be placed in the name of the state of Louisiana. (2) Require that documents and records pertaining to transactions …
La. Rev. Stat. § 39:121 Division of administration powers, duties, and functions
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§121. Division of administration powers, duties, and functions The division of administration, in accordance with the provisions of R.S. 39:1410 in order to exercise supervision over the expenditure of funds and the construction projects, shall specifically: (1) Have the authorit…
La. Rev. Stat. § 39:121.1 Timely submission of invoices
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§121.1. Timely submission of invoices Any entity administering a capital outlay project included in the comprehensive capital outlay budget may require all parties performing any portion of planning and designing, including engineers and architects, or parties contracted with for…
La. Rev. Stat. § 39:1211 Depositing authorities defined
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§1211. Depositing authorities defined The term, "local depositing authorities", includes all parishes, municipalities, boards, commissions, sheriffs and tax collectors, judges, clerks of court, and any other public bodies or officers of any parish, municipality or township, but i…
La. Rev. Stat. § 39:1212 Daily deposits
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§1212. Daily deposits After the expiration of existing contracts, all funds of local depositing authorities shall be deposited daily whenever practicable, in the fiscal agency provided for, upon the terms and conditions, and in the manner set forth in this Chapter. Deposits shall…
La. Rev. Stat. § 39:1213 Fiscal agencies designated
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§1213. Fiscal agencies designated The fiscal agency with which funds are deposited shall be a stock-owned federally insured depository institution organized under the laws of this state or of any other state of the United States, or under the laws of the United States, as may be …
La. Rev. Stat. § 39:1214 Bids to be invited
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§1214. Bids to be invited A. Local depositing authorities shall, within thirty days prior to the expiration of any contract that may be entered into under this Chapter, give written notice to each of the banks located in any parish which embraces all or any portion of the politic…
La. Rev. Stat. § 39:1215 Depositing authorities located in parishes or municipalities of over one hundred thousand; private contract with banks
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§1215. Depositing authorities located in parishes or municipalities of over one hundred thousand; private contract with banks A. If any local depositing authority, located in whole or in part in any parish or municipality with a population of over one hundred thousand, is unable …
La. Rev. Stat. § 39:1216 Depositing authorities located in parishes or municipalities of over one hundred thousand; supplemental private contracts with banks
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§1216. Depositing authorities located in parishes or municipalities of over one hundred thousand; supplemental private contracts with banks If a local depositing authority, located in whole or in part in a parish or municipality having a population of over one hundred thousand fi…
La. Rev. Stat. § 39:1217 Depositing authorities located in parishes or municipalities of less than one hundred thousand; private contracts with banks
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§1217. Depositing authorities located in parishes or municipalities of less than one hundred thousand; private contracts with banks If any depositing authority, located in any parish or municipality with a population of less than one hundred thousand, advertises for banks to qual…
La. Rev. Stat. § 39:1217.1 Depositing authorities located in parishes or municipalities of less than one hundred thousand; exemption
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§1217.1. Depositing authorities located in parishes or municipalities of less than one hundred thousand; exemption Any depositing authority located in a parish or municipality with a population of less than one hundred thousand shall generally be exempt from the provisions of R.S…
La. Rev. Stat. § 39:1218 Fiscal agent banks and private contract banks; security and service
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§1218. Fiscal agent banks and private contract banks; security and service Any bank selected as the fiscal agency of any depositing authority, or any bank with whom a private contract is entered into, whether the bank is within or without the state, shall give security for the sa…
La. Rev. Stat. § 39:1219 Fiscal agent banks; trust funds and security
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§1219. Fiscal agent banks; trust funds and security Any fiscal agent bank, operating under the laws of this state for the purpose of paying bonds and coupons of this state, of any political subdivision, or of any depositing authority, shall set aside all such funds deposited by a…
La. Rev. Stat. § 39:122 Commencement of work; delays in construction; public statement; allocated funds
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§122. Commencement of work; delays in construction; public statement; allocated funds A.(1) No work shall commence and no contract shall be entered into for any project contained in the Capital Outlay Act unless and until funds are available from the cash sources indicated in the…
La. Rev. Stat. § 39:1220 Selection of depositories
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§1220. Selection of depositories A. Local depositing authorities shall, except as otherwise provided in this Chapter, select as the depositories of their funds, financial institutions domiciled or having branch offices located in the parish or municipality or congressional distri…
La. Rev. Stat. § 39:1220.1 Local depositing authorities; activity charges
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§1220.1. Local depositing authorities; activity charges Notwithstanding any provision of law to the contrary, all fiscal agent or depository banks shall pay at par and receive on deposit at par all checks and drafts drawn by or deposited for the account of the local depositing au…
La. Rev. Stat. § 39:1221 Security for deposits; kinds
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§1221. Security for deposits; kinds A. Local depositing authorities shall require as security for deposits: (1) Bonds or other interest-bearing securities of the United States, or any agency thereof, including but not limited to the Federal National Mortgage Association, or bonds…
La. Rev. Stat. § 39:1222 Security of deposits; approval by depositing authority
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§1222. Security of deposits; approval by depositing authority Where any fiscal authority elects to deposit as security any bonds, certificates of indebtedness, paving certificates, promissory notes, evidence of participation in promissory notes or other interest-bearing securitie…
La. Rev. Stat. § 39:1223 Security for deposits; value of securities
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§1223. Security for deposits; value of securities Any bonds and certificates of indebtedness, including paving certificates, of any authority referred to in R.S. 39:1221(1), whose revenue in whole or in part is not derived from ad valorem taxes, and any paving certificates of any…
La. Rev. Stat. § 39:1224 Security for deposits; authorized depositories
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§1224. Security for deposits; authorized depositories The bonds, certificates of indebtedness, paving certificates, promissory notes, evidence of participation in promissory notes, and other interest-bearing securities or obligations furnished as security, shall be deposited with…
La. Rev. Stat. § 39:1225 Security for deposits; amount of security
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§1225. Security for deposits; amount of security The amount of the security shall at all times be equal to one hundred percent of the amount of collected funds on deposit to the credit of each depositing authority except that portion of the deposits insured by any governmental ag…
La. Rev. Stat. § 39:1226 Additional security; failure to provide
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§1226. Additional security; failure to provide If the security required under the provisions of R.S. 39:1221, R.S. 39:1223, R.S. 39:1224, or R.S. 39:1225 is not furnished by a fiscal agency or depository bank, the depositing authority may require such additional or other security…
La. Rev. Stat. § 39:1227 Failure of depository; depositing authority holding own notes; right to set-off
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§1227. Failure of depository; depositing authority holding own notes; right to set-off Any depositing authority which holds its own note as security, in whole or in part, for its deposits in any bank, shall, if the bank fails, have the right to set-off its deposits against its no…
La. Rev. Stat. § 39:1228 Failure of depository; participation in dividends
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§1228. Failure of depository; participation in dividends If any depository bank fails or suspends payment, the depositing authority shall participate in all dividends paid by the bank to other depositors, on the basis of the amount on deposit on the date the depository bank fails…
La. Rev. Stat. § 39:1229 Failure of depository; sale of security
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§1229. Failure of depository; sale of security If any depository bank fails or suspends, or fails on due demand without just cause, to pay any funds deposited with it, the fiscal officer with whom the collateral has been deposited as security, by direction of the authority which …
La. Rev. Stat. § 39:123 Construction progress report
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§123. Construction progress report The commissioner of administration shall provide quarterly to the legislature by the fifteenth day following the beginning of the first month in each quarter, a construction progress report listing all uncompleted capital construction, highway, …
La. Rev. Stat. § 39:1230 Deposit of proceeds of bonds; not subject to foregoing rules
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§1230. Deposit of proceeds of bonds; not subject to foregoing rules Local depositing authorities which have the right to deposit public funds and which may have bonds for sale, may, pursuant to an agreement with the purchaser of the bonds, deposit the proceeds of the bonds, until…
La. Rev. Stat. § 39:1231 Funds in registry of court; deposit
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§1231. Funds in registry of court; deposit A. All funds deposited in the registry of any court or coming into the hands of the clerk of court in any judicial proceedings and not belonging to such officer, shall be deposited in the bank previously selected by the clerk of court as…
La. Rev. Stat. § 39:1232 Responsibility of depositing officials
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§1232. Responsibility of depositing officials The treasurer of any depositing authority, or any other public official, having custody of public funds, shall not be responsible for any money or moneys deposited in the bank selected by the authority having the right to select the d…
La. Rev. Stat. § 39:1233 Bank officer who is member of depositing board not to vote for his bank
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§1233. Bank officer who is member of depositing board not to vote for his bank An officer of any bank who is a member of any board having authority to let public funds shall not cast any vote in favor of any bank of which he is an officer.
La. Rev. Stat. § 39:1233.1 Bank officer, director, or employee who is member of depositing authority; recusal
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§1233.1. Bank officer, director, or employee who is member of depositing authority; recusal Notwithstanding any provision of Chapter 15 of Title 42 of the Revised Statutes of 1950 or any other law to the contrary, any member of a local depositing authority, including the chief ex…
La. Rev. Stat. § 39:1234 Existing contracts not affected
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§1234. Existing contracts not affected Nothing in this Chapter shall be construed as abrogating or cancelling any existing contracts on the part of any local depositing authority, all of which shall remain in full force and effect until their expiration.
La. Rev. Stat. § 39:1235 Termination of contracts; set-off by depository
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§1235. Termination of contracts; set-off by depository Whenever the contract of any depositing authority with any fiscal agent or depository terminates by limitation or otherwise, or when any fiscal agent or depository fails or suspends payment, the fiscal agent or depository or …
La. Rev. Stat. § 39:124 Periodic inspections
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§124. Periodic inspections The facility planning and control section shall make periodic inspections at all stages of construction of any facility constructed pursuant to this Part and shall make detailed reports which shall be made available to the legislature and to the public.…
La. Rev. Stat. § 39:1241 Fiscal agent banks for cities over one hundred fifty thousand population
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§1241. Fiscal agent banks for cities over one hundred fifty thousand population Fiscal agent banks for the deposit of funds belonging to cities in this state having a population exceeding one hundred fifty thousand according to the last preceding federal census of the United Stat…
La. Rev. Stat. § 39:1242 Security for deposits
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§1242. Security for deposits A. The commissioner of public finance, or the finance officer of cities having a population exceeding one hundred fifty thousand, or any department, board, commission, or institution thereof, shall require as security for deposits belonging to and hel…
La. Rev. Stat. § 39:1243 Securities under control of depositing authorities
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§1243. Securities under control of depositing authorities All securities pledged for deposit of public funds belonging to cities of this state having a population exceeding one hundred fifty thousand, either in physical possession of the depositing authority or deposited under jo…
La. Rev. Stat. § 39:1244 Responsibility of depositing authorities for funds deposited; for collateral
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§1244. Responsibility of depositing authorities for funds deposited; for collateral Neither the commissioners of public finance, nor the finance officers of cities located in this state having a population exceeding one hundred fifty thousand, nor any department, board, commissio…
La. Rev. Stat. § 39:1245 Depositing authority and fiscal agent bank defined
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§1245. Depositing authority and fiscal agent bank defined "Depositing authority" as used in this Part means the commissioner of public finance or the finance officer, or any department, board, commission, or institution of cities located in this state having a population exceedin…