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

RS 38:1575

67 words·~1 min read·/la/title-38/38-47

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

RS 38:1575

§1575. No dissolution without consent of bondholders or retirement of bonds

If the drainage district or subdrainage district has bonds issued and outstanding, the resolution dissolving the drainage district or subdrainage district shall not become effective until the holders of all outstanding bonds have filed with the governing authority thereof their written consent to the dissolution or until the outstanding bonded indebtedness has been retired.