Louisiana § RS 33:2923.1 - Certificates of indebtedness; customary and necessary benefits
Full text of Louisiana Louisiana Civil Code § RS 33:2923.1 — Certificates of indebtedness; customary and necessary benefits, with citation guidance and answers to common questions.
§ RS 33:2923.1. Certificates of indebtedness; customary and necessary benefits
A. Notwithstanding any provision of law to the contrary and as a complete and additional authority for incurring debt, any political subdivision, as defined in R.S. 33:2922, is hereby authorized to issue certificates of indebtedness maturing not more than five years from the dated date of such certificates for the purpose of paying customary and necessary benefits and/or services which will be available or provided to such political subdivision under a multi-year contract of not less than two years.
B. The political subdivision shall not issue such certificates of indebtedness unless the political subdivision certifies to the State Bond Commission that:
(1) The benefits and/or services are customary and necessary.
(2) The cost of such benefits and/or services if contracted for on an annual basis is greater than the sum of the cost of such benefits and/or services over the term of the multi-year contract plus the costs of incurring debt.
(3) There is no reasonable commercial alternative to obtaining such cost savings for the benefits and/or services other than on a multi-year contract basis.
C. For purposes of this Section, the costs of incurring debt shall include the costs of issuance and the administrative costs, including interest costs, attributable to such debt.
Acts 1997, No. 448, §1.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 33:2923.1
What does Louisiana Civil Code § RS 33:2923.1 cover?
Section RS 33:2923.1 ("Certificates of indebtedness; customary and necessary benefits") is part of the Louisiana Civil Code, the codified statutory law of Louisiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Louisiana § RS 33:2923.1?
A common citation format is "Louisiana Civil Code § RS 33:2923.1" (Louisiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Louisiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Louisiana official source linked on this page or consult a licensed Louisiana attorney.
How does Louisiana § RS 33:2923.1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Louisiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Louisiana.