Terms Used In Louisiana Revised Statutes 39:698.13

  • governing authority: means collectively the body which exercises the governmental and financing functions of the local governmental subdivision, or the school board;

    (2)  "issuer" means the local governmental subdivision or school board in whose name bonds authorized hereunder are issued;

    (3)  "local governmental subdivision" means any parish or municipality;

    (4)  "resolution" means a resolution, ordinance, act or other appropriate legislative enactment of a governing authority;

    (5)  "sales tax revenues" means the proceeds or avails of any sales tax imposed under the authority of Section 29 of Article VI of the Constitution of the State of Louisiana of 1974 or any other authority except R. See Louisiana Revised Statutes 39:698.1

The resolution authorizing the issuance of the bonds hereunder and pledging and dedicating sales tax revenues to the payment thereof shall be recorded in the mortgage records of the parish in which the issuer is located and shall be published in one issue of the official journal of the governing authority, or if there is none, in a newspaper having general circulation in the parish.  For a period of thirty days from the publication of said resolution, any person in interest may contest the legality of the ordinance or resolution and of any provisions therein made for the security and payment of the bonds.  After that time no one shall have any cause or right of action to contest the legality, formality, regularity, or effectiveness of the ordinance or resolution and provisions therefor for any cause whatever.  Thereafter it shall be conclusively presumed that every legal requirement for the issuance of the bonds, including all things pertaining to the election at which the bonds are authorized, has been complied with.  No court shall have authority to inquire into any of these matters after thirty days.

Acts 1975, 1st Ex.Sess., No. 21, §5, eff. Jan. 28, 1975.