Jackson HB No. 608
(KEYWORD, SUMMARY, AND DIGEST as amended by Senate committee
amendments)
BONDS. Authorizes certain school districts to increase, with voter approval, their level
of indebtedness
DIGEST
Present law (R.S. 39:554) provides that the governing authorities of school districts may
incur debt and issue bonds of the districts for the following purposes and none other:
acquiring or improving lands for building sites and playgrounds, including construction of
necessary sidewalks and streets; purchasing, erecting and/or improving school buildings,
teachers' homes, and other school related facilities, and acquiring the necessary equipment
and furnishings therefor. Proposed law retains present law.
Relative to a limit on the indebtedness of local school boards, generally:
Present law (R.S. 39:562(B)) provides that no debt shall be incurred and general obligation
bonds issued therefor for any one of the purposes provided by present law which, including
the existing bonded debt (with specified exceptions) shall exceed in the aggregate 10% of
the assessed valuation of the taxable property within the school district, including both
homestead exempt property and certain nonexempt property.
Proposed law authorizes a parish school district in any parish having a population of between
149,000 to 184,000 persons at the time any bonds are issued, with the approval of a majority
of the voters, to incur debt and issue bonds for the purposes specified in R.S. 39:554, which
may exceed 10% but shall not exceed 50% of the assessed valuation of the taxable property
within the geographic boundaries of the school system, including each of the following:
(1)Homestead exempt property, which must be included on the assessment roll for the
purpose of calculating debt limitation.
(2)Nonexempt property, as ascertained for local purposes by the last assessment of
property within the geographic boundaries of the school system governed by the
board prior to the delivery of the bonds representing the debt, regardless of the date
of the election at which said bonds were approved.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Adds R.S. 39:562(Q))
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Education to the
engrossed bill
1. Changes application of proposed law from a "parishwide school district and
of special school districts" in any parish having a population of between
149,000 to 184,000 persons to a "parish school district" in any parish having
a population of between 149,000 to 184,000 persons.
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Prepared by Alan Miller.