Exclusion of sewer certificates from municipal debt computation; exemption from taxation; security for public deposits

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  5. Exclusion of sewer certificates from municipal debt computation; exemption from taxation; security for public deposits

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RS 3975 - Exclusion of sewer certificates from municipal debt computation; exemption from taxation; security for public deposits

A. Sewer certificates issued under the provisions of this Sub-part shall not be included in computing the indebtedness of the municipality nor in determining any constitutional or statutory limitations upon the indebtedness of the municipality.

B. All sewer certificates issued under this Sub-part shall be exempt from taxation. They shall be acceptable as security for any deposit of public funds.

Acts 1950, Ex.Sess., No. 6, §§15, 16.


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