RS 45:1278
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/la/title-45/45-547A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
RS 45:1278
§1278. Energy transition bonds
Energy transition bonds shall not be a debt or a general obligation of the state or any of its political subdivisions, agencies, or instrumentalities and shall not be a charge on their full faith and credit. An issue of energy transition bonds shall not, directly, indirectly, or contingently, obligate the state or any agency, political subdivision, or instrumentality of the state to levy any tax or make any appropriation for payment of the bonds, other than for paying energy transition charges in their capacity as consumers of electricity.
All energy transition bonds authorized by a financing order by the commission shall contain on the face of a statement the following: "Neither the full faith and credit nor the taxing power of the state of Louisiana is pledged to the payment of the principal of, or interest on, this bond".
Acts 2022, No. 255, §2, eff. June 3, 2022.