Louisiana § RS 39:466.12 - Bonds
Full text of Louisiana Louisiana Civil Code § RS 39:466.12 — Bonds, with citation guidance and answers to common questions.
§ RS 39:466.12. Bonds
A. To provide said funds for such capital outlay, the State Bond Commission is authorized to borrow money and issue and sell bonds and other obligations of the state of Louisiana subject to the first paragraph of Article IV, Section 2 of the Constitution of Louisiana.
B. Said bonds or other obligations shall be general obligations of the state of Louisiana to the payment of which, as to principal, premium, if any, and interest, as and when the same become due and payable, the full faith and credit of the state shall be and hereby is irrevocably pledged. The bonds shall be secured by moneys pledged and dedicated to and paid into the Bond Security and Redemption Fund and shall be payable on a parity with bonds or other obligations heretofore and hereafter issued which are secured by said fund.
C. The bonds or other obligations shall be issued from time to time and shall be in such series and form and for such term, not exceeding thirty years, and shall bear such rate or rates of interest as shall be determined by the State Bond Commission and otherwise shall be issued in accordance with the provisions of R.S. 39:1361 through 1366 and 1401 through 1406.
D. The proceeds from the bonds shall be deposited in the Capital Improvement Bond Fund and shall be disbursed by the state treasurer to the Capital Construction and Improvement Commission at such time or times as required by said commission for the construction by said commission of buildings, structures, and other facilities comprising the capital outlay program of the Louisiana State School for the Deaf to be located in East Baton Rouge Parish and the furnishings and equipment therefor.
Added by Acts 1970, No. 68, §2.
Frequently Asked Questions About Louisiana § RS 39:466.12
What does Louisiana Civil Code § RS 39:466.12 cover?
Section RS 39:466.12 ("Bonds") 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 39:466.12?
A common citation format is "Louisiana Civil Code § RS 39:466.12" (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 39:466.12 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.