RS 39:1362

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RS 39:1362

§1362. Definitions

As used in this Chapter, the following words, terms and phrases shall have the meanings ascribed to them in this Section, except where the context clearly indicates a different meaning:

(1)"Bond" means all general obligation bonds or other instruments evidencing indebtedness of the state of Louisiana or any of its boards, departments, commissions, authorities and agencies issued pursuant to Article VII, Section 6 of the constitution of Louisiana. Excluded from the operation of this Chapter are non-full faith and credit bonds of the state issued by its boards, departments, commissions, authorities and agencies, and bonds or other instruments evidencing indebtedness of a local political subdivision or agency issued pursuant to other provisions of the constitution and statutes of Louisiana, whether said bonds are full faith and credit obligations of the local agency or are non-full faith and credit obligations of the local agency secured or payable from a particular tax or particular taxes of the local agency or secured or payable from nontax revenues, including assessment collections of the local agency, or secured or payable from a combination of taxes and revenues of the local agency.

(2)"Note" means temporary indebtedness of the state of Louisiana which shall have a maturity date, including all renewals thereof, of not greater than five years.

(3)"Issuing agency" means the State Bond Commission as provided for in Article VII, Section 8 of the constitution of Louisiana and R.S. 39:1401 through R.S. 39:1410.

(4)"State agency" shall mean any board, department, commission, authority or agency whose activities are financed by appropriations of the legislature or by dedication of state revenues, whose executive head or a majority of whose membership on the governing board are appointed by the governor, and whose bonds are backed by a guarantee of the state.

(5)"Bond act" means the act authorizing the issuance of bonds which adopts this statement of policy by specific inclusion or by reference.

Added by Acts 1968, Ex.Sess., No. 27, §1. Amended by Acts 1975, No. 764, §1; Acts 1982, No. 737, §1, eff. Aug. 2, 1982.