La. Rev. Stat. § 38:440
Courts may enforce payment of principal and interest
Louisiana · Louisiana Revised Statutes Title 38 — Public Contracts, Works and Improvements · Status: effective
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- La. Rev. Stat. § 38:440, Courts may enforce payment of principal and interest, Louisiana, version 1 as recorded 2026-10-04, yourstate.us, https://yourstate.us/provision/2723215
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In case for any cause it becomes necessary in order to enforce payment of the principal or interest of the bonds, any court of competent jurisdiction, at the joint or separate suit of any holder or holders of the bonds, shall require the tax collectors of the respective parishes of the levee district or levee and drainage district, under the direction and orders of the court, to proceed to levy and collect taxes and local contributions levied in R.S. 38:439 and to pay the amount so collected into the state treasury. The amount so paid shall not be used for any other purpose than to pay the interest and principal of the bonds.