La. Rev. Stat. § 33:4548.11
Bonds not debts of state or governmental units
Louisiana · Louisiana Revised Statutes Title 33 — Municipalities and Parishes · Status: effective
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- Citation
- La. Rev. Stat. § 33:4548.11, Bonds not debts of state or governmental units, Louisiana, version 1 as recorded 2026-10-04, yourstate.us, https://yourstate.us/provision/2717027
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Full text
Bonds issued under the provisions of this Chapter shall be deemed to constitute a pledge of the faith and credit of the governmental unit issuing the bonds. All such bonds shall contain a statement on their face substantially to the effect that neither the faith and credit of the state nor the faith and credit of any governmental unit of the state are pledged to the payment of the principal of or the interest of such bonds. The issuance of bonds under the provisions of this Chapter shall not directly, indirectly, or contingently obligate the state or any governmental unit of the state to levy any taxes whatever therefor or to make any appropriation for their payment, other than obligations to make payments by the political subdivisions to the authority arising out of contracts authorized under this Chapter.