Louisiana § RS 33:4255 - Sinking fund
Full text of Louisiana Louisiana Civil Code § RS 33:4255 — Sinking fund, with citation guidance and answers to common questions.
§ RS 33:4255. Sinking fund
Any resolution authorizing the issuance of bonds hereunder shall provide for the creation of a sinking fund into which shall be paid from the revenues of the utility, subject only to prior payment of the reasonable and necessary expenses of operating and maintaining the utility, sums fully sufficient to pay the principal and interest of the bonds, and to create such reserve for contingencies as may be required by the resolution. The moneys in the sinking fund shall be applied to the payment of interest on and principal of the bonds or to the purchase or retirement of the bonds prior to maturity in the manner provided in the resolution.
The resolution authorizing their issuance may contain such covenants with the future holder of the bonds as to
(1) the management and operation of the utility,
(2) the imposition and collection of fees and charges for the products, commodities or services furnished thereby,
(3) the disposition of such fees and revenues,
(4) the issuance of future bonds and the creation of future liens and encumbrances against the utility and the revenues thereof,
(5) the carrying of insurance on the properties constituting the utility,
(6) the disposition of the proceeds of any such insurance, and
(7) other pertinent matters, deemed necessary by the governing body to assure the marketability of the bonds, provided such covenants are not inconsistent with the provisions of this Sub-part.
Frequently Asked Questions About Louisiana § RS 33:4255
What does Louisiana Civil Code § RS 33:4255 cover?
Section RS 33:4255 ("Sinking fund") 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 33:4255?
A common citation format is "Louisiana Civil Code § RS 33:4255" (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 33:4255 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.