A.  The governing authority of the political subdivision issuing such waterworks certificates or amortized note may, by resolution, empower and authorize the chief executive officer and its clerk or secretary to negotiate and deliver such waterworks certificates or amortized note and collect the purchase price thereof and do any and all things necessary and incidental thereto, or authorize delivery to the contractor of all or any part of the said waterworks certificates or the promissory note in payment of their contractual obligation covering such improvements, as may be determined by the said governing authority.  The funds derived from the sale of said certificates or amortized note shall be expended solely in payment of the cost of the improvements herein authorized, and shall not be drawn upon for any other purpose whatsoever.

B.  The provisions of this section are applicable to sewer certificates issued by the Lafourche water district.

Acts 1962, No. 313, 10.  Amended by Acts 1966, No. 18, §1, eff. June 2, 1966, at 2:32 P.M.; Acts 1974, No. 440, §1.