TITLE 39. PUBLIC FINANCE

SUBTITLE III. GENERAL LAWS ON STATE DEBT

CHAPTER 11. STATE BOND COMMISSION
PART IV. LOCAL GOVERNMENT FINANCES

39:1410.62     Delinquent payments or fund transfers on outstanding indebtedness; notification to commission

All parishes, municipalities, and any other unit of local government, including but not limited to school boards and special districts, authorized by law to perform governmental functions, as well as any political subdivision creating same, shall notify the commission, in writing, whenever:

(1) Transfers to any funds required to be established by resolution authorizing the issuance of bonds, certificates of indebtedness, or otherwise authorizing the incurring of indebtedness, have not been made timely.

(2) Principal, interest, premiums, or other payments due on outstanding indebtedness have not been made timely.

Added by Acts 1990, No. 500, Sec. 1, eff. July 18, 1990.