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Code · Louisiana · Title 38 — Public Contracts, Works and Improvements

RS 38:1655

98 words·~1 min read·/la/title-38/38-139

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RS 38:1655
§1655. Additional levy for payment of principal and interest
In case the proceeds of the original tax levy made under the provisions of R.S. 38:1631 are not sufficient to pay the principal and interest of all bonds issued, then the board of commissioners shall make any additional levy or levies upon benefits assessed necessary for this purpose. Under no circumstances shall any tax levies be made that will in any manner or to any extent impair the security of the bonds or the funds available for the payment of the principal and interest of the bonds.
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