Louisiana Constitution Art. 14 Sec. 25 – Impairment of Debt Obligations Prohibited
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Terms Used In Louisiana Constitution Art. 14 Sec. 25
- 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.
Section 25. Nothing in this constitution shall be construed or applied in such a manner as to impair the obligation, validity, or security of any bonds or other debt obligations authorized under the Constitution of 1921.