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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2010 ENROLLED
SENATE BILL NO. 778
BY SENATOR LAFLEUR
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. Notwithstanding the provisions of any other law relating to the9
issuance of general obligation bonds by political subdivisions or the issuance by10
political subdivisions of any other bonds or indebtedness secured in whole or in11
part by ad valorem taxes, all such general obligation bonds or other such bonds12
or indebtedness may be sold as provided for in Subsection A of this Section or13
may be sold at private sale in the manner determined by the governing14
authority of the issuer thereof; provided the issuance of any such general15
obligation bonds or other such bonds or indebtedness is approved by the State16
Bond Commission, and in the case of a private sale, is approved by two-thirds17
of the members present and voting of the State Bond Commission. For purposes18
of this Subsection, the terms "general obligation bonds" and "political19
subdivisions" shall have the meanings ascribed to them in Article VI, Section20
44 of the Constitution of Louisiana.21
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
ACT No. 903