La. R.S. § 33:4720.61 Issuance of Bonds

• Library: Louisiana Statutes
• Edition: 2023
• Currency: Current with changes from the 2023 Legislative Session
• Year: 2023
• Citation: La. R.S. § 33:4720.61

A. The authority shall have power to issue bonds of the authority from time to time in its discretion to finance its activities or operations under this Chapter, including without limiting the generality of the foregoing the repayment with interest of any advances or loans of funds made to the authority by the federal government, or other source, for any surveys or plans made or to be made by the authority in exercising its powers under this Chapter, and shall also have power to issue refunding or other bonds from time to time in its discretion for the payment, retirement, renewal, or extension of any bonds previously issued, and to provide for the replacement of lost, destroyed, or mutilated bonds previously issued under this Section.

B. Bonds which are issued under this Section:

(1) May be general obligation bonds of the authority to the payment of which, as to both principal and interest, and premiums, if any, the full faith, credit, and assets, acquired and to be acquired, of the authority are irrevocably pledged.

(2) May be special obligations of the authority which, as to both principal and interest, and premiums, if any, are payable solely from and secured only by a pledge of any income, proceeds, revenues, or funds of the authority derived or to be derived by it or held by it in connection with its undertaking of any project or projects of the authority, including any grants or contributions of funds made or to be made by it with respect to any such project or projects, and any funds derived or to be derived by it or held or to be held by it in connection with its sale, lease, rental, transfer, retention, management, rehabilitation, clearance, development, redevelopment, preparation for development or redevelopment, or its operation or other utilization or disposition of any real or personal property acquired or to be acquired by it or held or to be held by it for any of the purposes of this Chapter, and including any loans, grants, or contributions of funds made or to be made to it by the federal government, in aid of any project or projects of the authority or in aid of any of its other activities or operations.

(3) May be special obligations of the authority which, as to both principal and interest, and premiums, if any, are payable solely from and secured only by a pledge of any loans, grants, or contributions of funds made or to be made to it by the federal government, or other source, in aid of any project or projects of the authority or in aid of any of its other activities or operations.