Notwithstanding any other law to the contrary, no port commission and no port, harbor, or terminal district shall issue bonds or other evidences of indebtedness, hereinafter referred to as "bonds", which are secured by the full faith and credit of the state; provided, however, that any port commission or port, harbor, or terminal district may, if authorized by other law, issue bonds secured by the full faith and credit of the state to refund bonds previously issued which are secured by the full faith and credit of the state.
La. R.S. 39:1364.1
Issuance of bonds secured by the full faith and credit of state by certain political subdivisions prohibited in certain situations
Known as the Louisiana General Debt Policy Law and Procedures Act
The act spans §§ 39–39 (8 sections).
Added by Acts 1977, No. 697, §1, eff
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.