Louisiana Revised Statutes 38:480 – Binding obligation of state
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Terms Used In Louisiana Revised Statutes 38:480
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
This Subpart and all other statutes authorizing any levee district or levee and drainage district in the state to levy and collect taxes and local contributions or to issue bonds shall not be repealed or modified to the detriment of the bonds authorized by this Subpart. This obligation not to so repeal or modify the statutes is hereby declared to be binding upon the state and to be a part of the contract of the bonds.
Acts 1985, No. 785, §1, eff. July 22, 1985.