Louisiana Revised Statutes 30:580 – Prohibitions; bonded indebtedness of political subdivisions
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Louisiana Revised Statutes 30:580
- Commissioner: means the commissioner of conservation of the state of Louisiana. See Louisiana Revised Statutes 30:503
- Contract: A legal written agreement that becomes binding when signed.
- Gas: means any gas derived from or composed of hydrocarbons, including synthetic gas which is produced from coal, lignite, or petroleum coke and the heat content of which synthetic gas does not exceed 800 BTUs per standard cubic foot. See Louisiana Revised Statutes 30:503
Notwithstanding any provision of law or this Chapter to the contrary, no existing contract, agreement or understanding for the delivery and sale of intrastate natural gas involving a parish, municipality or other political subdivision, shall be altered, amended or changed by any action, order or directive of the commissioner or any provision hereof if the effect thereof reduces or could reduce the allocation of natural gas to be delivered or sold thereby below the allocation necessary to generate sufficient revenues to pay the debt-service requirements of any bonds of a parish, municipality or other political subdivision.
Added by Acts 1973, Ex.Sess., No. 16, §1, emerg. eff. Dec. 8, 1973, at 9:55 A.M.