Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2023 | Updated by Findlaw Staff
A. When all revenue bonds issued under the provisions of this Chapter in connection with any expressway project or projects and the interest thereon shall have been paid or a sufficient amount for the payment of all such bonds and the interest thereon to the maturity thereof shall have been set aside in trust for the benefit of the bondholders, the authority shall, if such project or projects are then in good condition and repair to the satisfaction of the department, transfer such project or projects to the department to become part of the state road system to be maintained thereafter by the Department of Transportation and Development; provided, that in any event any such project or projects shall remain subject to sufficient tolls to pay the cost of the maintenance, repair, and operation thereof.
B. Provided, however, that the authority may, after said bonds shall have been paid or a sufficient amount for payment set aside as aforesaid, charge tolls for the use of any such project and pledge such tolls to the payment of bonds issued under the provisions of this Chapter in connection with another contiguous expressway project or projects which may hereafter be constructed.
Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 48, § 1273. Cessation of tolls - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-48-sect-1273/
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.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)