Louisiana § RS 38:453 - Payment of interest
Full text of Louisiana Louisiana Civil Code § RS 38:453 — Payment of interest, with citation guidance and answers to common questions.
§ RS 38:453. Payment of interest
The interest on refunding bonds shall be paid out of funds arising from the collection of taxes and other revenues of the levee board or levee and drainage board, and the state treasurer shall pay any and all interest that may be due on the bonds when presented by any bona fide holder or holders, and a sufficient amount of the taxes and revenues shall always remain on hand to pay one-half year's interest on the bonds and shall not be diverted to any other purpose by any authority except as may be necessary to pay the principal of and interest on the bonds theretofore issued by the board. All bonds issued under this Subpart shall be accorded the same rank and priority in the application and distribution of the taxes and revenues as were originally accorded to the bonds, notes, or certificates of indebtedness paid, refunded, or refinanced.
Acts 1985, No. 785, §1, eff. July 22, 1985.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 38:453
What does Louisiana Civil Code § RS 38:453 cover?
Section RS 38:453 ("Payment of interest") 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 38:453?
A common citation format is "Louisiana Civil Code § RS 38:453" (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 38:453 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.