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La. Rev. Stat. § 39:1405.3 Local governmental approval of industrial revenue bonds
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§1405.3. Local governmental approval of industrial revenue bonds A. Notwithstanding any provision of law to the contrary, the State Bond Commission shall not approve the issuance of industrial revenue bonds or other bonds, notes, certificates of indebtedness, or other debt instru…
La. Rev. Stat. § 39:1405.4 Costs of issuance and reporting requirements
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§1405.4. Costs of issuance and reporting requirements A. Bonds, notes, or other issuances of indebtedness of any issuer required by the constitution or laws of Louisiana to be sold or approved by the State Bond Commission shall not be sold or approved unless and until the estimat…
La. Rev. Stat. § 39:1406 Applicability of Chapter
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§1406. Applicability of Chapter This Chapter shall not be applicable to any bond issues in process prior to November 25, 1968, and the determination of such facts and findings so made by the state treasurer, as evidenced by a certificate to this effect, shall be conclusive, excep…
La. Rev. Stat. § 39:1408 Transfer of functions from State Bond and Tax Board
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§1408. Transfer of functions from State Bond and Tax Board A. By authority of Section 32 of Article III of the Constitution of 1921, the powers, duties and functions of the State Bond and Tax Board as provided in R.S. 47:1801-1808 are hereby transferred to and vested in the State…
La. Rev. Stat. § 39:141 Duties of the office of telecommunications management
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§141. Duties of the office of telecommunications management A. The office of telecommunications management shall have the following duties: (1) To establish and coordinate all telecommunications systems and telecommunications services affecting the management and operations of th…
La. Rev. Stat. § 39:1410 Transfer of certain functions of the State Bond Commission to the division of administration
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§1410. Transfer of certain functions of the State Bond Commission to the division of administration A. All the powers, duties, and functions transferred by the provisions of R.S. 39:1409(B) from the State Bond and Building Commission to the State Bond Commission, which relate to …
La. Rev. Stat. § 39:1410.31 Agreements providing for outlay of funds for capital improvement or expenditure; State Bond Commission approval required; penalties
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§1410.31. Agreements providing for outlay of funds for capital improvement or expenditure; State Bond Commission approval required; penalties A. No agreement, including, but not limited to agreements of lease, lease-purchase or third party financing, shall be entered into by, on …
La. Rev. Stat. § 39:1410.32 Certificate of "impossibility or impracticality"
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§1410.32. Certificate of "impossibility or impracticality" A. A project in the Capital Outlay Budget Act may be declared "impossible or impractical" by the State Bond Commission. A certificate showing reasons in sufficient detail shall be signed by the head of the Facility Planni…
La. Rev. Stat. § 39:1410.33 Notification to legislators
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§1410.33. Notification to legislators A. Whenever a certificate of impossibility and impracticality is filed with the Bond Commission and a hearing on that certificate is scheduled, the Bond Commission shall notify each member of the legislature within whose district the project …
La. Rev. Stat. § 39:1410.41 Legislative findings
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§1410.41. Legislative findings This legislature hereby finds that the state currently experiences and may hereafter experience fluctuations in revenues and expenditures and that, as a consequence thereof, temporary cash flow deficits could occur resulting in the temporary inabili…
La. Rev. Stat. § 39:1410.42 Definitions
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§1410.42. Definitions As used in this Part, unless the context otherwise requires: (1) "Commission" means the State Bond Commission of the state. (2) "Fund" means the state general fund. (3) "Note" means any note or other evidence of borrowing made under the authority of this Par…
La. Rev. Stat. § 39:1410.43 Authority to issue and sell notes
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§1410.43. Authority to issue and sell notes A.(1) Notwithstanding any law to the contrary, and provided that the budget status report required by R.S. 39:75 reflects the state general fund balance not in a deficit posture, the commission may issue and sell from time to time notes…
La. Rev. Stat. § 39:1410.45 Form and terms of notes
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§1410.45. Form and terms of notes A.(1) Notes shall be issued in a form consistent with the provisions of this Part describing the fund and the revenue from which such notes are payable; however, in no event shall the notes be payable from any revenues other than those credited t…
La. Rev. Stat. § 39:1410.46 Execution of notes
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§1410.46. Execution of notes The notes shall be executed in such manner as may be provided by the resolution authorizing their issuance. Acts 1991, No. 827, §1.
La. Rev. Stat. § 39:1410.47 Manner of sale of notes
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§1410.47. Manner of sale of notes Notes may be sold at public sale on a competitive bid basis or at negotiated sale and may be sold at such price as determined by the commission. Acts 1991, No. 827, §1.
La. Rev. Stat. § 39:1410.48 Contest period
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§1410.48. Contest period A. Within thirty days after publication of the notice of intention to issue notes, any person in interest may contest the legality of the resolution, any provision of the notes to be issued pursuant to it, the provisions securing the notes, and the validi…
La. Rev. Stat. § 39:1410.49 Investment of proceeds; income therefrom
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§1410.49. Investment of proceeds; income therefrom The state treasurer is authorized to invest and reinvest the proceeds of the notes in any securities which are legal investments for the state general fund. The income from any such investment shall be credited to the state gener…
La. Rev. Stat. § 39:1410.50 No full faith and credit debt created
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§1410.50. No full faith and credit debt created Notes shall be payable solely from the revenues pledged thereto, and the registered owners or holders of the notes may not look to any other source for repayment of the principal of or interest on the notes. In every case, the reven…
La. Rev. Stat. § 39:1410.51 Notes as legal investment and eligible collateral
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§1410.51. Notes as legal investment and eligible collateral Notwithstanding the provisions of any other statute to the contrary, notes shall be legal investments for any political subdivision or public body of the state and shall be eligible for use as collateral for deposits of …
La. Rev. Stat. § 39:1410.52 Exemption from taxes
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§1410.52. Exemption from taxes All notes authorized to be issued pursuant to the provisions of this Part, together with interest thereon, income therefrom, and gain upon the sale thereof, shall be exempt from state and local taxes. Acts 1991, No. 827, §1.
La. Rev. Stat. § 39:1410.53 Construction with other statutes
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§1410.53. Construction with other statutes The powers conferred by this Part constitute an additional and separate grant of powers for the issuance and payment of the notes and all other acts in connection therewith authorized by this Part. If there is any inconsistency between t…
La. Rev. Stat. § 39:1410.60 Approval of application; incurring indebtedness
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§1410.60. Approval of application; incurring indebtedness A. No parish, municipality, public board, political or public corporation, subdivision, or taxing district, and no road or subroad district, school district, sewerage district, drainage or subdrainage district, levee distr…
La. Rev. Stat. § 39:1410.61 Approval of application; special fiscal elections
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§1410.61. Approval of application; special fiscal elections Before incurring any debt, holding any election to authorize the incurring of any debt or the levy of any special tax, borrowing any money for any purpose whatever, issuing any bonds or other evidences whatever of debt, …
La. Rev. Stat. § 39:1410.62 Delinquent payments or fund transfers on outstanding indebtedness; notification to commission
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§1410.62. Delinquent payments or fund transfers on outstanding indebtedness; notification to commission All parishes, municipalities, and any other unit of local government, including but not limited to school boards and special districts, authorized by law to perform governmenta…
La. Rev. Stat. § 39:1410.63 Penalties for violation
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§1410.63. Penalties for violation A. Any contract, debt, obligation, bond, or other evidence of indebtedness whatsoever, incurred or issued in violation of this Part, and without the consent and approval of the commission shall be null and void, and no court of this state shall h…
La. Rev. Stat. § 39:1410.64 Approval of petitions in bankruptcy court
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§1410.64. Approval of petitions in bankruptcy court No petition in relation to the readjustment of the debts of any agency of the state of Louisiana included in the provisions of R.S. 39:1410.60 shall be received or filed in the courts of bankruptcy of the United States unless ac…
La. Rev. Stat. § 39:1410.65 Applications of provisions
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§1410.65. Applications of provisions The provisions of this Part shall extend and apply to any debt incurred or bond or other evidence of debt issued by any such governmental agency named in R.S. 39:1410.60, although the same has been authorized by an election of the qualified el…
La. Rev. Stat. § 39:1410.66 Filing of bond transcripts
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§1410.66. Filing of bond transcripts A. Within six months of the closing of a bond issue or other evidence of debt by a political subdivision, the bond counsel shall transmit the bond transcript to the political subdivision. A copy of the transmittal letter shall also be filed wi…
La. Rev. Stat. § 39:1411 No state assistance for discriminatory programs
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§1411. No state assistance for discriminatory programs No person in the State of Louisiana shall, on the ground of race, color, religion, or national origin, be excluded from participation in, be denied the benefits of, or be subjected to discrimination under any program or activ…
La. Rev. Stat. § 39:1412 Effectuation of R.S
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§1412. Effectuation of R.S. 39:1411 Each department, commission, board, institution, agency and political subdivision of the state and the officers thereof which are empowered to extend financial assistance to any program or activity, by way of grant, loan, or contract other than…
La. Rev. Stat. § 39:142 Duties of state agencies
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§142. Duties of state agencies State agencies shall be responsible for submitting data for planning purposes, upon request by the office of telecommunications management. State agencies shall be responsible for establishing and exercising cost control measures regarding usage of …
La. Rev. Stat. § 39:1421 Definitions
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§1421. Definitions As used in this Chapter, the following words and terms shall have the meaning hereinafter ascribed to each: (1) "Securities" means bonds, notes, certificates or other written obligations for the repayment of borrowed money, including obligations to refund any o…
La. Rev. Stat. § 39:1422 Legislative intent
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§1422. Legislative intent It is the intent of the Legislature in enacting this law to establish uniform provisions relating to maximum interest rates and advertising for bids for public sale of securities of public entities so as to assist public entities in marketing their secur…
La. Rev. Stat. § 39:1423 Application of provisions
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§1423. Application of provisions The provisions of this Chapter, relating to maximum interest rates and advertising for bids shall supersede: (1) those provisions of the Louisiana Constitution of 1921 continued as statutes under the authority of Article XIV of the Louisiana Const…
La. Rev. Stat. § 39:1424 Maximum interest rates for securities
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§1424. Maximum interest rates for securities Notwithstanding any maximum interest rate limitation which may be set forth in any other law, the following shall constitute the maximum interest rates for securities issued by public entities: (1) Notwithstanding any other law to the …
La. Rev. Stat. § 39:1424.1 Variable, adjustable, noninterest bearing, or zero interest rate securities
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§1424.1. Variable, adjustable, noninterest bearing, or zero interest rate securities A. Notwithstanding any other provision of law to the contrary, public entities are hereby authorized to issue, in addition to fixed interest rate securities, variable interest rate securities or …
La. Rev. Stat. § 39:1425 Maximum interest rates for securities previously authorized at an election
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§1425. Maximum interest rates for securities previously authorized at an election Any bonds heretofore authorized at an election at which the proposition approved by the electors specified a maximum interest rate higher than the maximum interest rate permitted by laws in effect a…
La. Rev. Stat. § 39:1426 Advertising for public sale of securities; private sale of securities
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§1426. Advertising for public sale of securities; private sale of securities A. Notwithstanding any other requirement of law to the contrary, in every case where securities of public entities are required by law to be sold at public sale upon sealed bids after advertisement, the …
La. Rev. Stat. § 39:1427 Form in which securities may be issued
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§1427. Form in which securities may be issued Notwithstanding any other law to the contrary, securities may be issued in any one or more of the following forms: (a) payable to bearer with coupons attached for the payment of interest, subject to registration as to principal only o…
La. Rev. Stat. § 39:1428 Price at which securities may be sold
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§1428. Price at which securities may be sold A. It is the intent of the legislature to make uniform those portions of existing laws relating to the price at which securities may be sold, it being recognized by the legislature that there are differences in the prices at which secu…
La. Rev. Stat. § 39:1429 Credit enhancement, purchase and payment; authorization
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§1429. Credit enhancement, purchase and payment; authorization A. It is the intent of the legislature to facilitate the use of credit enhancement devices in connection with the sale of securities only in those instances where it can be financially advantageous to public entities …
La. Rev. Stat. § 39:143 Definitions
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§143. Definitions The following words and phrases shall be defined as follows: (1) "Agency" for the purposes of this Part and Part V of Chapter 17 of this Title has the same meaning as ascribed to it in R.S. 36:3(1). (2) "Telecommunications transmission facility" means any transm…
La. Rev. Stat. § 39:1430 Revenue bonds and security therefor
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§1430. Revenue bonds and security therefor A. Notwithstanding any provision of law to the contrary, public entities may issue revenue bonds for any authorized purpose payable out of the income, revenues, and receipts derived or to be derived from the properties and facilities own…
La. Rev. Stat. § 39:1430.1 Security interests by public entities
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§1430.1. Security interests by public entities Any pledge of and grant of security interest in taxes, income, revenues, monies, loan payments, reimbursement payments, or receipts, including without limitation water, gas, garbage, electricity or sewer charges, fees, receipts, rate…
La. Rev. Stat. § 39:1431 Definitions
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§1431. Definitions As used in this Chapter, the following terms shall have the meanings ascribed to each: (1) "Fully registered form" means securities which are registered as to the ownership of both the principal, interest, and premium, if any, thereon in any one or more of the …
La. Rev. Stat. § 39:1432 Legislative intent
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§1432. Legislative intent The intent of the Legislature in enacting this Chapter is to establish uniform provisions for the issuance, execution, registration, and transfer of securities of public entities in fully registered form, and to permit such public entities to use the mos…
La. Rev. Stat. § 39:1433 Application of provisions
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§1433. Application of provisions The provisions of this Chapter shall supersede all other laws of the state of Louisiana relating to the issuance, execution, registration, transfer, and payment of securities of public entities in fully registered form. Added by Acts 1983, 1st Ex.…
La. Rev. Stat. § 39:1434 Issuance, execution, and transfer of fully registered securities
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§1434. Issuance, execution, and transfer of fully registered securities A. Notwithstanding any other laws to the contrary, public entities may issue securities in fully registered form and provide for their execution, registration, and transfer in accordance with the terms and co…
La. Rev. Stat. § 39:1435 Contractual services; exemption; payment
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§1435. Contractual services; exemption; payment A. Public entities may contract for the services of a financial institution or other person, located in or out of the state, to perform any or all of the following functions with respect to an issue of fully registered securities an…
La. Rev. Stat. § 39:1436 Pledge and assignment of registered securities
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§1436. Pledge and assignment of registered securities Any form provided for in this Chapter to fully register securities may include a method of registering pledges or assignments of the securities, and such registration shall effect delivery and notification of the pledged or as…
