Requisites of certificates of indebtedness

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RS 743 - Requisites of certificates of indebtedness

The certificates of indebtedness shall be made due and payable annually not later than March first of any future year; provided that certificates of indebtedness issued by municipalities and parishes shall mature within five years from the date of their issuance.

The certificates of indebtedness shall bear a rate of interest not greater than six per cent per annum; they shall be issued in such manner and form as the governing authority of the municipality or parish may provide; and they shall be legal and valid obligations of the municipality or parish on behalf of which they were issued.

NOTE: §743 as repealed by Acts 2018, No. 569, eff. July 1, 2021.

RS 743 - Repealed by Acts 2018, No. 569, §2, eff. July 1, 2021.

Amended by Acts 1952, No. 127, §14; Acts 1961, No. 52, §1; Acts 2018, No. 569, §2, eff. July 1, 2021.


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