SLS 10RS-1839 ORIGINAL
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2010
SENATE BILL NO. 778
BY SENATOR LAFLEUR
BONDS. Provides that bonds secured by ad valorem taxes issued by political subdivisions
may be sold at private sale. (8/15/10)
AN ACT1
To enact R.S. 39:1426(D), relative to the sale of general obligation bonds by political2
subdivisions; to provide for conditions of such sales; and to provide for related3
matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 39:1426(D) is hereby enacted to read as follows:6
ยง1426. Advertising for public sale of securities; private sale of securities7
* * *8
D. All general obligation bonds, or other such bonds or indebtedness9
secured in whole or in part by ad valorem taxes issued by political subdivisions10
may be sold at private sale provided the issuance of any such general obligation11
bonds or other such bonds or indebtedness is approved by the State Bond12
Commission.13 SB NO. 778
SLS 10RS-1839 ORIGINAL
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Martha S. Hess.
DIGEST
Proposed law authorizes all general obligation bonds or other such bonds or indebtedness
secured in whole or in part by ad valorem taxes issued by political subdivisions to be sold
at private sale provided the issuance of any such general obligation bonds or other such
bonds or indebtedness is approved by the State Bond Commission.
Effective August 15, 2010.
(Adds R.S. 39:1426(D))