Louisiana § RS 49:343 - Grant of authority
Full text of Louisiana Louisiana Civil Code § RS 49:343 — Grant of authority, with citation guidance and answers to common questions.
§ RS 49:343. Grant of authority
A. In addition to any other grant of authority contained in the statutes of the state with respect to the investment of public funds and not by way of limitation, public entities shall be authorized to invest the proceeds derived from the sale of their bonds and monies held in any fund established in connection with the bonds in any direct obligation of, or obligation guaranteed by, the United States of America, without limitation as to maturity, and in tax-exempt bonds until such time as such proceeds or monies are required to be expended for the purpose of the issue.
B. Any authorized officer of a public entity which proposes to invest in tax-exempt bonds pursuant to the authority contained in this Part shall to the extent possible give preference and priority to tax-exempt bonds of the state of Louisiana and its political subdivisions and public corporations; and said officer may conclusively rely with respect to the tax-exempt status of any bond on an opinion of nationally recognized bond counsel rendered at the time of issuance of the tax-exempt bond.
C. Nothing contained in this Part is or shall be construed as a restriction or a limitation upon any other powers had and possessed by any public entity and this Part is cumulative and in addition to any such powers. This Part does and shall be construed to provide a complete and additional method for the doing of the things authorized hereby and shall be regarded as supplemental and additional to powers conferred by other laws.
Acts 1986, No. 66, §1, eff. June 13, 1986.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 49:343
What does Louisiana Civil Code § RS 49:343 cover?
Section RS 49:343 ("Grant of authority") 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 49:343?
A common citation format is "Louisiana Civil Code § RS 49:343" (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 49:343 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.