Louisiana Revised Statutes 38:475 – Taxes and local contributions for payment of interest; setting apart amount necessary
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Terms Used In Louisiana Revised Statutes 38:475
- Board of commissioners: means a group of persons appointed under the provisions of law to exercise certain authorities over and have oversight and control of a levee district or levee and drainage district. See Louisiana Revised Statutes 38:281
- Levee and drainage district: means a political subdivision of this state organized for the purpose and charged with the duty of constructing and maintaining levees, drainage, and all other things incidental thereto within its territorial limits. See Louisiana Revised Statutes 38:281
- Levee district: means a political subdivision of this state organized for the purpose and charged with the duty of constructing and maintaining levees, and all other things incidental thereto within its territorial limits. See Louisiana Revised Statutes 38:281
For the purpose of paying the interest on the bonds, the board of commissioners of the levee district or levee and drainage district shall annually levy, in an amount sufficient for that purpose, taxes and local contributions which they are authorized and empowered to levy as well as taxes and local contributions which it may hereafter be authorized to levy. From the first money realized from the taxes and local contributions, the state treasurer shall set apart annually an amount necessary to pay the interest and the money thus set apart shall not be diverted to any other purpose.
Acts 1985, No. 785, §1, eff. July 22, 1985.