RS 2:657 Refunding bonds; single issue bonds
§657. Refunding bonds; single issue bonds
NOTE: Repealed by Acts 2008, No. 686, §3, eff. July 1, 2009, if the Department of Economic Development recommends that the Louisiana Transportation Center is not economically feasible or the department does not receive the appropriate funding to conduct the study. See Acts 2008, No. 686, §§4 and 5.
A. The authority is hereby authorized to provide by resolution for the issuance of refunding bonds of the authority for the purpose of refunding any bonds then outstanding and issued by the provisions of this Chapter, whether or not such outstanding bonds have matured or are then subject to redemption. The authority is further authorized to provide by resolution for the issuance of a single issue of bonds of the authority for the combined purposes of:
(1) Paying the costs of any airport or airport facility.
(2) Refunding bonds of the authority which shall theretofore have been issued under the provisions of this Chapter and which shall then be outstanding, whether or not such outstanding bonds have matured or are then subject to redemption.
B. The issuance of such bonds, the maturities and other details thereof, the rights and remedies of the holders thereof, and the rights, powers, privileges, duties, and obligations of the authority with respect to the same, shall be governed by the foregoing provisions of this Chapter insofar as the same may be applicable.
Acts 1992, No. 508, §1, eff. June 22, 1992; Acts 2008, No. 686, §3.