Louisiana § RS 33:7809 - Bonds

§ RS 33:7809. Bonds

A.  For the purpose of acquiring, constructing, extending, or improving water, sewer, and sewage disposal facilities, or any combination of these, the commission may issue bonds or other debt obligations in the manner and under the terms and provisions as provided in Part XIII of Chapter 4 of Subtitle II of Title 39 of the Louisiana Revised Statutes of 1950 (R.S. 39:1011, et seq.).  Such bonds or other debt obligations shall not be a charge upon the other income and revenues of the commission which are not pledged to the payment of the bonds, or of any other political subdivision of the state of Louisiana.  The issuance of a notice of intention, the publication thereof, approval by the State Bond Commission and the St. Bernard Parish Police Jury and the holding of a public hearing thereon under said Part XIII prior to the original enactment of this Chapter is hereby ratified, confirmed, and approved.  Any project or undertaking by the commission from which revenue is or will be derived, whether by lease, rents, fees, charges, or otherwise, shall be considered a revenue producing work of public improvement of the commission.

B.  For the purpose of acquiring, constructing, maintaining, or improving water, sewer, or sewage disposal facilities, or any combination of these, the commission, acting through the board, may also issue general obligation bonds under Article VI, Section 33 of the Constitution of Louisiana and levy special taxes for the construction, maintenance, and operation thereof when authorized by a vote of a majority of the electors of the parish who vote thereon at an election held for that purpose in accordance with law.

C.  The issuance of bonds shall be approved by the State Bond Commission and the St. Bernard Parish Police Jury, but no approval by the districts or any other entity shall be required.

Acts 1986, No. 377, §1, eff. July 2, 1986.