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Louisiana Revised Statutes Tit. 40, § 599.30. Bond anticipation notes

Current as of January 01, 2023 | Updated by Findlaw Staff

A. An authority may issue negotiable bond anticipation notes in anticipation of the sale of bonds for any corporate purpose.

B. Bond anticipation notes issued under this Section shall be issued in the same manner as bonds.

C. Bond anticipation notes issued under this Section and the resolution authorizing them may contain any provision, condition, or limitation that may be included in a trust agreement.

D. An authority may issue bond anticipation notes to pay any other anticipation notes.

E. Bond anticipation notes shall be paid from:

(1) Money available and not otherwise pledged.

(2) Revenues of the authority.

(3) The proceeds of the sale of the bonds in anticipation of which the notes were issued.

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Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 40, § 599.30. Bond anticipation notes - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-40-sect-599-30/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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