RS 48:869
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/la/title-48/48-696A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
RS 48:869
§869. Privilege upon bond proceeds
Subject to the provisions of R.S. 48:882, all moneys received from any bridge revenue bonds issued pursuant to this Sub-part shall be applied solely to the payment of the cost of the bridge or bridges or to the appurtenant sinking funds. Until so applied, there is a privilege upon the money in favor of the holders of the bonds or the trustee in respect of the bonds.