§ 39:462.1 A. The legislature finds that:
§ 39:462.2 The following terms as used in this Chapter shall have the following meanings:
§ 39:462.3 A. There is hereby established a revolving loan fund in the state treasury to be known as the “Louisiana Rural Infrastructure Revolving Loan Program Fund”, hereinafter referred to in
§ 39:462.4 A.(1) Notwithstanding any provision of law to the contrary, and in addition to the authority to lend or borrow money or incur or guarantee indebtedness provided by any other provisio
§ 39:462.5 A. The commission, on behalf of the state, may issue, incur, and deliver debt evidenced by bonds, notes, or other evidences of indebtedness, payable from or secured by sums deposited
§ 39:462.6 The legislative auditor may review all loan applications for compliance with the provisions of this Chapter. The state treasurer and the loan applicant shall be responsible for provi
§ 39:462.7 Beginning January 1, 2026, and every two years thereafter, the commission shall issue a report to the House Committee on Ways and Means and the Senate Committee on Revenue and Fiscal
§ 39:462.8 The implementation of this Chapter shall be subject to the appropriation of funds by the legislature for this purpose.

Terms Used In Louisiana Revised Statutes > Title 39 > Subtitle I > Chapter 3-C - Louisiana Rural Infrastructure Revolving Loan Program

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Approved infrastructure program: means a program through which an eligible infrastructure project may be funded including but not limited to the following programs:

                (a) State Capital Outlay Budget Program as provided in La. See Louisiana Revised Statutes 39:462.2

  • Certifying department: means a state department or agency with authority to administer and approve an eligible infrastructure project in accordance with laws and regulations governing the respective approved infrastructure program. See Louisiana Revised Statutes 39:462.2
  • Commission: means the State Bond Commission. See Louisiana Revised Statutes 39:462.2
  • Contract: A legal written agreement that becomes binding when signed.
  • Department: means the Department of the Treasury. See Louisiana Revised Statutes 39:462.2
  • Eligible infrastructure project: includes an emergency request. See Louisiana Revised Statutes 39:462.2
  • Emergency request: includes but is not limited to funding for a project that has an anticipated useful life of less than twenty years and a value or cost of less than fifty thousand dollars and that would not otherwise qualify for funding in an approved infrastructure program. See Louisiana Revised Statutes 39:462.2
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Loan: means the loan from the commission to the local government evidenced by a bond, note, or other evidence of indebtedness as provided in this Chapter. See Louisiana Revised Statutes 39:462.2
  • 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.
  • project: means a plan or proposal approved by the respective certifying department which would require or use a local match or other required local contribution or require funding for eligible infrastructure project costs that can be provided by the commission. See Louisiana Revised Statutes 39:462.2
  • Revolving loan fund: means the Louisiana Rural Infrastructure Revolving Loan Program Fund established in La. See Louisiana Revised Statutes 39:462.2
  • User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.