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2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4173. Bonds; procedures for issuance

RS 33:4173 - Bonds; procedures for issuance
A. Where a joint undertaking authorized by R.S. 33:4170 or R.S. 33:4172 is between a single municipality or single public power authority, and one or more electric public utility companies and is to be funded by the municipality or its public power authority through the issuance of bonds, said bonds shall be issued substantially in compliance with the procedure established by Subpart C, Part I, Chapter 10, Title 33 of the Louisiana Revised Statutes of 1950, but without need of holding a referendum on the issuance of the bonds unless twenty-five percent of the registered voters sign a petition calling for a referendum which must be presented at the public hearing held to authorize the issuance of bonds as specified in R.S. 33:4252.
B. Where a joint undertaking authorized by R.S. 33:4170 or R.S. 33:4172 is among more than one municipality, or more than one public power authority, and one or more electric public utility companies and is to be funded by the municipalities or the public power authorities through the issuance of bonds, said bonds shall be issued substantially in compliance with the procedure established by Subpart C, Part I, Chapter 10, Title 33 of the Louisiana Revised Statutes of 1950, but without need of holding a referendum on the issuance of the bonds unless twenty-five percent of the registered voters sign a petition calling for a referendum which must be presented at the public hearing held to authorize the issuance of bonds as specified in R.S. 33:4252.
Added by Acts 1975, No. 425, §1.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4174. Liberal construction

RS 33:4174 - Liberal construction
These provisions shall be liberally construed, to the end that, through the use of arrangements and agreements provided for herein between one or more municipalities, public power authority, and/or one or more electric public utility companies, greater economy and efficiency in the providing of electrical and energy services to the citizens of the municipality may be achieved; and further to this end, the governing authority of the municipality or public power authority entering into any joint agreement as authorized hereby shall be empowered to adopt such other ordinances and resolutions, take such other action and charge and collect such fees as may be contemplated or necessary by the said agreements, all for the purpose intended.
Added by Acts 1975, No. 425, §1.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4221. Bond issue

RS 33:4221 - Bond issue
Any municipal corporation, the City of New Orleans excepted, or any district created for the purpose of supplying the public with a public utility may, for the purpose of constructing, acquiring, extending, or improving any revenue producing public utility, within or without the limits of the municipality or district, issue bonds secured exclusively, principal and interest, by mortgage on the lands, buildings, machinery, and equipment, and by pledge of the income and revenues of the public utility.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4222. Resolution ordering election; notice of election

RS 33:4222 - Resolution ordering election; notice of election
Whenever the governing authority of any municipal corporation or district desires to issue bonds to be secured as provided in R.S. 33:4221 it shall, by resolution adopted by a vote of two-thirds of its members, order an election to be held to determine whether or not it is the sense of the qualified resident electors of the municipality or district that the bonds be so issued and secured. The resolution shall set forth specifically the amount of bonds proposed to be issued, the number of years they shall run, the maximum rate of interest which they shall bear, the purpose for which they are to be issued, and a particular description of the property to be mortgaged and the income and revenues which are to be pledged for the security of the bonds, and shall designate the date of the election and the polling places. Notice of the election shall be given by publication for thirty days in a newspaper published in the municipality or district; or if there be no newspaper published in the municipality or district, then in a newspaper published in the parish. Publication for four successive weeks shall be deemed sufficient if thirty days intervene between the first publication and the date of the election.
If there be no newspaper published in the parish, then the notice may be given by posting for thirty days prior to the election in five public places within the municipality or district. The notice shall embrace substantially all matters required to be set forth in the resolution ordering the election, and shall be signed by the chief executive officer of the municipality or of the district.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4224. Materials for election; form of ballot

RS 33:4224 - Materials for election; form of ballot
The governing authority of the municipality or of the district shall furnish the commissioners of election with a list of electors qualified to vote in the municipality or district, certified by the registrar of voters of the parish, and with ballots, tally sheets, blanks for making returns, and all paraphernalia necessary for properly holding the election. Ballots shall be substantially in the following form:
"Shall the governing authority of the (City, Town, Village, _____ District) of _________ be authorized to issue bonds in the sum of ______ Dollars, to run for _____ years, bearing interest not exceeding _____ percentum per annum, payable annually or semi-annually, for the purpose of _____, to be secured by a mortgage of _____ and by pledge of the income and revenue of such property or properties?"
To vote in favor of the proposition, the voter
YES
will make a cross mark (X) in the space under
____
the word "Yes" and to vote against it, the
voter will make a cross mark (X) in the space
NO
underneath the word "No".
____
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4225. Issuance of bonds; execution of mortgage and pledge; remedies in case of default

RS 33:4225 - Issuance of bonds; execution of mortgage and pledge; remedies in case of default
When the returns of the election have been received and canvassed by the governing authority of the municipality or district, and the results promulgated, if a majority of the qualified electors of the municipality or district, who voted at the election, have voted in favor of the proposition submitted, the governing authority may issue bonds in the amount, running for the number of years, and bearing interest at a rate not exceeding that submitted, for the purpose set forth in the resolution ordering the election, and secure the same by mortgage of the property specifically described in the resolution and by pledge of the income and revenues of the property.
Thereupon the governing authority may, by resolution, empower and direct the chief executive officer of the municipality or district, and its clerk or secretary, to issue, execute, sign, seal, negotiate, and deliver the bonds and to make and execute in the name and under the seal of the municipality or district, an act of mortgage and pledge to secure the payment of the bonds in principal and interest, in accordance with the resolution ordering the election, and when the act of mortgage and pledge has been executed, the property thus mortgaged and the income and revenues therefrom thus pledged, shall remain mortgaged and pledged for the security of the bonds, in principal and interest, until they have been fully paid and discharged; or, in the alternative, the governing authority of the municipality or district may deposit with the trustee, as provided in the act of mortgage, cash or United States government bonds in a sufficient amount to fully pay the then outstanding bonds and interest thereon, and, upon such deposit being made, the trustee may cancel the mortgage.
In case default is made in payment of bonds, or any of them, in whole or in part, or of any installment of interest thereon, when the same becomes due, the holder of the bonds may proceed against the governing authority of the municipality or district to enforce the pledge of income and revenues and foreclose the mortgage by seizure and sale of the property mortgaged, as if proceeding against a private person. But, bonds issued under the provisions of this Sub-part and the liability arising therefrom shall not be a charge upon the other income and revenues of the municipality or district issuing the bonds, and shall not be included in computing the indebtedness of the municipality or district for the purpose of determining any constitutional limitation.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4226. Contesting election

RS 33:4226 - Contesting election
For a period of sixty days from the promulgation of the result of the election, any person in interest may contest the legality of the election, the bond issue provided for, or the security to be given; after which time no one shall have any right or cause of action to contest the regularity, formality or legality of the election, bond issue, or the security given for the same, for any cause whatever; the legality shall be conclusively presumed, and no court shall have the authority to inquire into such matters.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4227. Sale for less than par or diversion of proceeds prohibited

RS 33:4227 - Sale for less than par or diversion of proceeds prohibited
Bonds issued under the provisions of this Sub-part shall be sold at an interest rate not greater than six per cent (6%) per annum. Under no conditions shall they be sold at a price less than par. The proceeds thereof shall not be used for any purpose other than that for which the bonds issued, as set forth in the resolution ordering the election to authorize the issue.
Amended by Acts 1968, No. 44, §1.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4228. Combination of two or more utilities

RS 33:4228 - Combination of two or more utilities
Any municipal corporation or district taking advantage of the provisions of this Sub-part may construct, acquire, extend, or improve two or more utilities (whether related or used in conjunction) and issue bonds as provided for herein secured exclusively, principal and interest, by mortgage on the lands, buildings, machinery and equipment and by pledge of the income revenues of the utilities.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4229. Service charge where revenues of garbage or sewerage facilities are pledged

RS 33:4229 - Service charge where revenues of garbage or sewerage facilities are pledged
Where the revenues pledged to the payment of bonds under this Subpart are revenues of a utility comprised of sewerage facilities or garbage facilities, the governing authority of the municipal corporation or district may impose against the owners of all real property in the municipal corporation or district a service charge for the facilities afforded by the utility, which charge shall not be a lien upon the property. The charges to be made shall be in amounts which the governing body shall determine in each year and shall be sufficient to provide for the cost of operating and maintaining the utility and to pay interest on and principal of the bonds secured by the revenues of the utility. No such charge shall be made against the owner of any property which is not benefited by the utility. A list of the names of all owners against whom charges are made and the amounts of the charges made against each owner may be certified by the governing authority to the official charged with the assessment of taxes against such property at such time and in such manner in each year so as to permit the amount of the charge to be carried upon the assessment roll of the real property in the municipal corporation or district. Each such charge may be carried on the roll as a special item due by the owner of the property individually, and may be identified on the roll as "Special Sewerage Charge or Special Garbage Charge, as the case may be, of ________ (inserting the name of the municipal corporation or district)." Such charges may be paid to the official who collects the general taxes assessed against the real property located in the municipal corporation or district and may be paid at the same time and in the same manner as general taxes are paid. Where the ownership of real property changes the municipal corporation or district may require any subsequent owner seeking sewerage or garbage service to apply therefor by proper application, whereupon the charges to be so imposed against such owner may be assessed and collected in the manner hereinabove provided. The municipal corporation or district may pay the tax collecting official the same commission on the amounts collected by him as he receives for the collection of ad valorem taxes, and may pay the assessing official a sum sufficient to reimburse him for the additional expense occasioned by reason of listing the charges on the assessment roll. The amounts to be so paid to the assessor and collector shall be considered one of the costs of operating and maintaining the utility.
Amended by Acts 1976, No. 505, §1.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4230. Commission of tax collector as part of maintenance cost

RS 33:4230 - Commission of tax collector as part of maintenance cost
The governing authority of any municipality or district may include in the maintenance cost of any sewerage or garbage district a sum sufficient to allow to the tax collector of the parish the same commission on the amount of the annual charges collected by him hereunder which the tax collector ordinarily receives under the existing laws for the collection of ad valorem taxes, and a sum sufficient to reimburse to the municipality or district and to the tax assessor the extra expense to which these authorities are subjected in levying and collecting the charges, the amount of which reimbursement in each case is to be fixed and determined by the governing authority.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4251. Bond issue

RS 33:4251 - Bond issue
Any municipal corporation or any parish or any other political subdivision or taxing district authorized to issue bonds under Section 14, Article 14, of the Constitution of Louisiana, all of which are hereinafter in this Sub-part referred to as "municipal corporation" or "municipality" may, in order to construct, acquire, or improve a revenue producing public utility, either within or without its boundaries, obtain funds for the purpose by issuing revenue bonds. For the purposes of this Sub-part, the governing body of the municipal corporation shall be the body empowered to authorize and issue other bonds of the municipal corporation under the provisions of Section 14, Article 14, of the Constitution of Louisiana and Title 39, Sub-title 2, Chapter 4.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4252. Requisites of bonds; authority to issue single bond to United States government agencies

RS 33:4252 - Requisites of bonds; authority to issue single bond to United States government agencies
Bonds issued under this Subpart shall be authorized by resolution of the governing body and shall be payable solely from the income and revenues to be derived from the operation of the utility. The bonds shall not constitute an indebtedness or pledge of the general credit of the municipal corporation within the meaning of any constitutional or statutory limitation of indebtedness and shall contain a recital to that effect. They shall be in coupon form but may be made registerable as to principal if so provided in the resolution authorizing the issuance. The bonds shall be in the denomination of one hundred dollars or a multiple thereof, shall mature serially or otherwise in the manner provided by the governing body, but not later than forty years from their date and shall be made payable at the place provided by the governing body. They may be made redeemable at the option of the issuing municipality prior to maturity at the premium (not greater than ten percent of the principal amount thereof) which the governing body determines. The bonds shall be signed by the presiding officer and attested by the secretary or clerk of the municipality under the official seal of the municipality, in the manner provided in the resolution authorizing their issuance. Interest coupons to be attached thereto may be executed with the facsimile signature of the officers, and in the event that any officer whose signature appears on the bonds or coupons ceases to hold office before the delivery of the bonds to the purchaser, his signature shall nevertheless be valid and sufficient for all purposes. The bonds shall be sold in the manner and at the times which the governing body determines, except that in no event shall the bonds be sold at a price of less than par or bear an interest rate of greater than eight percentum per annum.
In the event bonds authorized under this Subpart are proposed to be sold to any agency of the United States Government, pursuant to the terms of a written agreement between the political subdivision and such agency said bonds may be issued in the form of a single bond, may be fully registerable as to principal and interest, and may provide for repayment of principal and/or interest on amortized installments, in lieu of being issued as serial coupon bonds.
Amended by Acts 1970, No. 641, §1; Acts 1972, No. 588, §1; Acts 1972, Ex.Sess., No. 12, §1, emerg. eff. Sept. 1, 1972, at 4:00 P.M.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4253. Pledge of revenues of utility; receivership

RS 33:4253 - Pledge of revenues of utility; receivership
Any bonds issued under this Sub-part shall be payable from and secured by the pledge of the revenues derived from the operation of the utility constructed, acquired, extended or improved with the proceeds thereof, subject only to the prior payment of the reasonable and necessary expenses of operating and maintaining the utility. Any holder of the bonds or of any of the coupons thereto attached may by appropriate legal action compel performance of all duties required of the governing body and officials of the municipal corporation by the provisions of this Sub-part. If any bond issued hereunder is permitted to go into default as to principal or interest, any court of competent jurisdiction may pursuant to the application of the holder of the bond, appoint a receiver for the utility, which receiver shall be under the duty of operating the utility and collecting and distributing the revenues thereof pursuant to the provisions and requirements of the resolution authorizing the bonds.
If more than one series of bonds is issued hereunder payable from the revenues of any utility, priority of lien on such revenues shall depend on the time of the delivery of the bonds, each series enjoying a lien prior and superior to that enjoyed by any series of bonds subsequently delivered, except that where provision is made in the proceedings authorizing any issue or series of bonds for the issuance of additional bonds in the future on a parity therewith pursuant to procedure or restrictions provided in such proceedings, additional bonds may be issued in the future on a parity with such issue or series in the manner so provided in such proceedings.
Amended by Acts 1955, No. 72, §1; Acts 1956, No. 17, §1.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4255. Sinking fund

RS 33:4255 - Sinking fund
Any resolution authorizing the issuance of bonds hereunder shall provide for the creation of a sinking fund into which shall be paid from the revenues of the utility, subject only to prior payment of the reasonable and necessary expenses of operating and maintaining the utility, sums fully sufficient to pay the principal and interest of the bonds, and to create such reserve for contingencies as may be required by the resolution. The moneys in the sinking fund shall be applied to the payment of interest on and principal of the bonds or to the purchase or retirement of the bonds prior to maturity in the manner provided in the resolution.
The resolution authorizing their issuance may contain such covenants with the future holder of the bonds as to
(1) the management and operation of the utility,
(2) the imposition and collection of fees and charges for the products, commodities or services furnished thereby,
(3) the disposition of such fees and revenues,
(4) the issuance of future bonds and the creation of future liens and encumbrances against the utility and the revenues thereof,
(5) the carrying of insurance on the properties constituting the utility,
(6) the disposition of the proceeds of any such insurance, and
(7) other pertinent matters, deemed necessary by the governing body to assure the marketability of the bonds, provided such covenants are not inconsistent with the provisions of this Sub-part.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4256. Charges for commodities or services provided by utility

RS 33:4256 - Charges for commodities or services provided by utility
When any municipality has issued bonds and has pledged the revenues of any utility for the payment thereof as herein provided, the municipality shall impose and collect fees and charges for the products, commodities and services furnished by the utility, including those furnished to the municipality itself and its various agencies and departments, in such amounts and at such rates as shall be fully sufficient at all times to (1) pay the expenses of operating and maintaining the utility, (2) provide a sinking fund sufficient to assure the prompt payment of principal of and interest on the bonds as each falls due, (3) provide such reasonable fund for contingencies as may be required by the resolution authorizing the bonds, and (4) provide an adequate depreciation fund for repairs, extensions and improvements to the utility necessary to assure adequate and efficient service to the public. No board or commission other than the governing body of the municipality shall have authority to fix or supervise the making of these fees and charges.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4257. Property of two or more utilities may be pledged

RS 33:4257 - Property of two or more utilities may be pledged
The governing body of the municipality may authorize bonds under this Sub-part payable from the revenues to be derived from two or more utilities owned and operated by the municipal corporation (whether or not such utilities are related or used in conjunction) for the purpose of constructing, acquiring, extending or improving any one or more of the utilities.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4258. Election to authorize issuance of bonds

RS 33:4258 - Election to authorize issuance of bonds
Before the resolution authorizing the issuance of bonds under this Subpart is adopted by the governing body, the question of the issuance of the bonds shall be submitted and approved at either a special or general election which shall be ordered, conducted and canvassed in accordance with either of the following election procedures, at the discretion of the governing body:
(1) The question of the issuance of the bonds may be submitted to and approved by votes of a majority in number and amount of the property taxpayers who vote at an election held hereunder. In the event the governing body elects to order a property taxpayers' election, all matters pertaining thereto, including the qualifications of voters and the manner of calling and conducting the election and canvassing and promulgating the results thereof shall be governed by the provisions of Chapter 4, Subtitle II, Title 39.
(2) The question of the issuance of the bonds may be submitted to and approved by a majority of the qualified electors of the municipal corporation who vote at an election held therein substantially in accordance with the general election laws of the state of Louisiana, except that the election shall be ordered, conducted, canvassed and notice thereof published by the governing body in accordance with the procedures set forth in Chapter 4, Subtitle II, Title 39, except where inconsistent with the provisions of this section. In the event the governing body elects to order such an election, all qualified resident electors shall be entitled to vote in the election and voters shall not be required to sign a ballot. Voting machines shall be used in the holding of this type of election and assessed valuation shall not be voted in the election.
In the event a property taxpayers' election has heretofore been held and promulgated approving the issuance of bonds under this Subpart, as contemplated in Subparagraph (1) above, the governing body may proceed with the issuance and sale of such bonds without complying with the provisions of this section and without any further election approval.
All bonds heretofore issued under the provisions of this Subpart are hereby validated, ratified and confirmed and declared to be valid and binding obligations of the municipal corporation in accordance with the terms of their issuance in spite of any one or more irregularities which may have occurred in the passage of this Subpart or question which might be raised as to the constitutionality of any procedural provision of this Subpart. All proceedings heretofore had in connection with the issuance of such bonds are hereby ratified, validated and confirmed.
Amended by Acts 1968, Ex.Sess., No. 33, §1.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4259. Refunding bonds

RS 33:4259 - Refunding bonds
The governing body of any municipality which has heretofore issued or hereafter issues bonds payable from utility revenues under the provisions of this Sub-part or any other law may authorize the issuance of bonds for the purpose of refunding, extending and unifying the whole or any part of the principal, interest and redemption premiums on the outstanding bonds. The refunding bonds may either be sold and the proceeds applied to or deposited in escrow for the retirement of the outstanding bonds, or may be delivered in exchange for the outstanding bonds. The refunding bonds shall be authorized in all respects as original bonds are herein required to be authorized, except that no election shall be necessary in the event the refunding bonds are sold at public sale after advertisement in the manner provided by R.S. 39:570 and the annual principal and interest on the refunding bonds is less than the combined annual principal and interest on the bond issue or issues being so refunded, extended and unified. The governing body, in authorizing the refunding bonds, shall provide for the security of the bonds, the sources from which the bonds are to be paid and for the rights of the holders thereof in all respects as herein provided for other bonds issued under the authority of this Sub-part. The governing body may also provide that the refunding bonds shall have the same priority of lien on the revenues pledged for their payment as was enjoyed by the bonds refunded.
Amended by Acts 1962, No. 224, §1.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4260. Contesting election and bonds; prescription

RS 33:4260 - Contesting election and bonds; prescription
For a period of sixty days from the date of the promulgation of the result of any election held hereunder, any person in interest may contest the legality of the election, after which time no one shall have any cause of action to contest the regularity, formality or legality of the election for any cause whatever, it shall be conclusively presumed that every legal requirement has been complied with, and no court shall have authority to inquire into such matters after the lapse of sixty days. The resolution authorizing the issuance of bonds shall be published once in a newspaper published in the municipality, or if no newspaper is published therein, then in a newspaper published in the parish in which the municipality is located, or if no newspaper is published in the parish then in a newspaper published in an adjoining parish. For a period of thirty days from the date of the publication any person in interest may contest the legality of the resolution and of the bonds to be issued pursuant thereto and the provisions securing the bonds. After the expiration of thirty days no one shall have any right of action to contest the validity of the bonds or the provisions of the resolution pursuant to which the bonds were issued, and all the bonds shall be conclusively presumed to be legal, and no court shall thereafter have authority to inquire into such matters.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4261. Service charge for sewerage and garbage facilities

RS 33:4261 - Service charge for sewerage and garbage facilities
Where the revenues pledged to the payment of bonds under this Subpart are revenues of a utility comprised of sewerage facilities, or garbage facilities, the governing authority of the municipality may each year impose against the owners of all real property in the municipality a service charge for the facilities afforded by the utility, which charge shall not be a lien upon the property. The charges shall be sufficient to provide for the cost of operating and maintaining the utility and paying the interest and principal of the bonds secured by the revenues of the utility. No charge shall be made against the owner of any property which is not benefited by the utility. A list of the names of all owners against whom charges are so made and the amounts of the charge made against each owner may be certified by the governing authority to the official charged with the assessment of taxes against the property at such time and in such manner in each year as to permit the amount of the charge to be carried upon the assessment roll of the real property in the municipality. Each charge may be carried on the roll as a special item due by the owner of the property individually and may be identified on the roll as "Special Sewerage or Garbage Charge of ____________ (inserting the name of the municipal corporation)". The charges may be paid to the official who collects the general taxes assessed against the real property located in the municipality, and may be paid at the same time and in the same manner as the general taxes are paid. Where the ownership of any real property changes, the municipality may require any subsequent owner seeking sewerage or garbage service to apply therefor, whereupon the charges imposed against the owner may be assessed and collected in the manner hereinabove provided. The municipality may pay the tax collecting official the same commission on the amounts collected by him as he receives for the collection of ad valorem taxes, and may pay the assessing official a sum sufficient to reimburse him for the additional expenses occasioned by reason of listing the charges on the assessment roll. The amounts to be paid to the assessor and collector shall be considered one of the costs of operating and maintaining the utility.
Amended by Acts 1976, No. 461, §1.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4262. No restriction of acts authorized

RS 33:4262 - No restriction of acts authorized
This Sub-part shall constitute full authority for the accomplishment of all acts herein authorized to be done. No other law restricting the carrying out of the acts authorized to be done shall be construed as applying to any proceedings had or acts done pursuant to this Sub-part.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4281. Extension or improvement of municipally owned utility by city of 25,000 to 250,000

RS 33:4281 - Extension or improvement of municipally owned utility by city of 25,000 to 250,000
Any municipality having a population in excess of twenty-five thousand and less than two hundred fifty thousand owning and operating its electric power plant, waterworks, motor coach transportation, and sewerage system, may construct, maintain, extend, rehabilitate, enlarge or improve any municipally owned public utility either within or without its boundaries. In addition the municipality may consolidate and unite any non-revenue bearing utility with one or more revenue bearing public utilities, which, when so united and consolidated, shall be one unit and shall be considered and treated as a single revenue bearing utility.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4282. Issuance of certificates of indebtedness

RS 33:4282 - Issuance of certificates of indebtedness
In order to obtain funds to construct, maintain, rehabilitate, extend, enlarge, or improve the municipally owned public utility the governing authority of the municipality may issue negotiable certificates of indebtedness and secure their payment by a pledge of the revenues and franchises of the revenue producing public utility, provided that the governing authority is first authorized to do so by a majority of the qualified resident electors of the municipality voting in an election to be held in the manner provided below.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4283. Certificates of indebtedness payable from revenues of utility; form and requisites; redemption; sale

RS 33:4283 - Certificates of indebtedness payable from revenues of utility; form and requisites; redemption; sale
Upon obtaining the authority from a majority of the qualified electors of the municipality voting in the election, the governing body of the municipality may issue negotiable certificates of indebtedness which shall be payable solely from the income and revenues to be derived from the operation of the revenue producing utility or the franchises thereof. These certificates of indebtedness shall not constitute an indebtedness or pledge of the general credit of the municipality within the meaning of any constitutional or statutory limitation of indebtedness and shall contain a recital to that effect. The certificates of indebtedness shall be in coupon form, but may be registerable as to principal if so provided in the proceedings authorizing their issuance. The certificates of indebtedness shall be in the denominations of one hundred dollars or a multiple thereof, shall bear interest at a coupon rate not exceeding six per cent per annum, shall mature serially or otherwise, (but shall not mature later than twenty years from the date of issuance) shall be made payable at the place either within or without the state provided by the proceedings authorizing their issuance, and may be made redeemable at the option of the governing authority of the municipality prior to maturity at premiums not greater than ten per cent of the principal amount thereof. The certificates of indebtedness shall be signed by the chief executive officer under the official seal of the municipality in the manner provided in the proceedings authorizing their issuance. Interest coupons to be attached thereto may be executed with the facsimile signature of such officer, and in the event that any official whose signature appears on the certificates of indebtedness or coupons ceases to occupy his office before the delivery of the certificates to the purchaser, his signature shall nevertheless be valid and sufficient for all purposes. The certificates of indebtedness shall be sold at public sale after thirty days' advertisement in a newspaper in the municipality or in the parish in which the municipality is located, in such manner and at such times as the governing authority may determine, except that in no event shall the certificates be sold at less than their par value.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4284. Pledge of revenues of utility; lien of certificate holders; enforcement of obligations of municipality; receivership

RS 33:4284 - Pledge of revenues of utility; lien of certificate holders; enforcement of obligations of municipality; receivership
Any certificates of indebtedness issued hereunder shall be negotiable and shall be secured by a pledge of the revenues of all or a portion of the incoming revenues derived from the operation of the revenue producing public utility not otherwise pledged or dedicated. The amount of income and revenue so pledged and dedicated shall be sufficient at all times to pay the principal and interest of the certificates as they mature; but there shall be made proper provisions for the current maintenance and operation of the utility and for establishing a reasonable depreciation and replacement fund. A lien upon the revenues and franchises shall exist in favor of the holders of the certificates of indebtedness, and the holders of the coupons attached thereto for the payment thereof, the lien to be effective until all of the certificates and coupons shall have been paid in full. In the event of default of payment of principal or interest of the certificates or coupons, any holder thereof shall have a preferential right of action to enforce and protect by suit, action, mandamus, receivership, or other proceedings the lien hereby conferred. He may bring such proceedings to compel performance of all obligations required to be performed by the governing authority of the municipality by the provisions of this Sub-part.
If a receiver is appointed, he shall have an exclusive permit and franchise to maintain and operate the property and by all means to continue to supply to the public the commodities, products, or services theretofore supplied by the utility. He shall have the rights, powers, and privileges enjoyed by the municipality in the operation of the utility. This franchise shall continue for the period (not exceeding twenty years from the date of the receivership) fixed in the proceedings authorizing the certificates and shall not be subject to any statutory limitations pertaining to the granting of municipal franchises, not especially contained in this Sub-part. The receivership shall expire upon the payment in full of the certificates and coupons.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4285. Priority of lien as between different series of certificates

RS 33:4285 - Priority of lien as between different series of certificates
If more than one series of negotiable certificates of indebtedness is issued hereunder, priority of lien and privileges on the revenues of the utility shall depend upon the time of delivery of the certificates, each series enjoying a lien prior and superior to that enjoyed by any other series of certificates subsequently delivered. However, as to any issue or series of certificates which is authorized as a unit to be delivered from time to time in blocks, it may be provided in the proceedings authorizing the issuance of the certificates that all such series or issues shall be equal as to lien and privileges regardless of the time of delivery.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4286. Sinking fund

RS 33:4286 - Sinking fund
Whenever any certificates of indebtedness are issued in accordance with this Sub-part, the municipal authority shall provide for the creation of a sinking fund into which shall be paid from the revenues of the utility, subject only to prior payment of reasonable and necessary operation and maintenance expenses, sums fully sufficient to pay the principal and interest on the certificates, and to create reserves for contingencies provided in the resolution and election. The moneys in the sinking fund shall be applied to the payment of the principal and interest of the certificates or to the purchase or retirement of the certificates prior to maturity in the manner provided.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4287. Charges for commodities or services provided by utility

RS 33:4287 - Charges for commodities or services provided by utility
When any municipal corporation has issued certificates of indebtedness hereunder and has pledged the revenues of any utility for the payment thereof, the municipality shall impose and collect fees and charges for the products, commodities, and services performed by the utility, in amounts and at rates fully sufficient at all times to
(1) pay the expenses of operating and maintaining the utility;
(2) provide a sinking fund sufficient to insure the prompt payment of the certificates of indebtedness and interest thereon as they fall due;
(3) provide such reasonable funds for contingencies as may be required; and
(4) provide an adequate depreciation fund for repairs, extensions, and improvements to the utility necessary to insure adequate and sufficient service to the public. There shall be no charge for services to the municipality itself or to its agencies and departments. The governing authority of the municipality or any duly appointed or qualified receiver shall have the exclusive authority to fix or supervise the making of these fees and charges.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4288. Refunding certificates

RS 33:4288 - Refunding certificates
The governing authority of a municipality which issues certificates of indebtedness under this Sub-part, may authorize the issuance of certificates of indebtedness for the purpose of refunding outstanding certificates.
Refunding certificates may either be sold and the proceeds applied to the retirement of the outstanding certificates, or may be delivered in exchange for the outstanding certificates. The refunding certificates shall be authorized in all respects as original certificates are herein required to be authorized, and the governing authority shall provide for the security of the refunding certificates and for the rights of the holders thereof in all respects as those herein authorized to be provided for under the authority of this Sub-part. The governing authority may also provide that the refunding certificates shall have the same priority of lien on the revenues pledged for their payment as was enjoyed by the certificates refunded.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4289. Election to authorize issuance of certificates of indebtedness; resolution; notice of election; ballots; election contests

RS 33:4289 - Election to authorize issuance of certificates of indebtedness; resolution; notice of election; ballots; election contests
Whenever the governing authority of a municipal corporation desires to issue certificates of indebtedness as provided herein, it may, by resolution adopted by a vote of two-thirds of the members of the governing authority, order an election to be held to determine whether or not it is the wish of the qualified resident electors of the municipality that the certificates of indebtedness be so issued and secured. The resolution shall state specifically the amount of the certificates of indebtedness proposed to be issued, the number of years that they are to run, the maximum rate of interest they shall bear, the purpose or purposes for which they are to be issued, a description of the properties for which they are to be issued, a description of the properties of which the incomes and revenues are to be pledged for the security of the certificates of indebtedness, and shall designate the date of the election and the polling places.
Notice of the election shall be given by publication for thirty days in a newspaper published in the municipality or in the parish in which the municipality is situated. The notice shall embrace substantially all matters required to be set forth in the resolution requiring the election and shall be signed by the chief executive officer of the municipality.
The election shall be held in accordance with the rules and regulations for general state elections. Ballots shall be substantially in the following form:
"Shall the governing authority of the City of _______________ be authorized to issue certificates of indebtedness in the sum of ________ Dollars to run for _____ years, bearing interest not to exceed _____ per centum per annum, payable (annually or semiannually) for the purpose of _________________ to be secured by a pledge of income, revenues, and franchises of _______________?"
To vote in favor of this proposition the voter
YES
will make a cross mark (X) under the word
____
"Yes" and to vote against it, the voter will
mark a cross mark (X) in the space underneath
NO
the word "No".
____
Any person interested shall have the right to resort to the district court of the parish in which the municipality is situated in order to contest the election or the issuance of certificates thereby authorized, provided suit is filed within sixty days from the date of promulgation of the returns of the election. After this time no court shall entertain the suit.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4290. Procedure provided not exclusive; other laws inapplicable

RS 33:4290 - Procedure provided not exclusive; other laws inapplicable
The procedure provided for in this Sub-part shall not be exclusive. But no other provisions of law pertinent to the construction, acquisition, extension, or improvement of public utilities, or to the issuance of certificates of indebtedness, the granting of franchises, the creation of pledges, or the adoption of proceedings by the governing authority shall be construed as applying to any proceedings had or acts done under this Sub-part.
2023 Louisiana Laws › Revised Statutes › Title 33 - Municipalities and Parishes › §33:4301. Creation of districts

RS 33:4301 - Creation of districts
The governing authorities of the several parishes are authorized and empowered upon their own initiative to divide their respective parishes into one or more gas utility districts with such names or numbers as the governing authorities may designate. A gas utility district may be created comprising all or part of the territory of more than one parish by resolution to be adopted by the governing authority of each parish affected. Any such district may contain within its boundaries all or part of the territory of one or more existing cities, towns or villages, and may overlap other taxing districts or political subdivisions, but shall not be authorized to engage in the operation of any utility hereunder in any existing city, town, village, political subdivision or taxing district which at the time of the creation of such gas utility district is then being served with gas by a gas utility company or is itself engaged in the operation of a like utility without obtaining the consent of the said gas utility company and the city, town, village, subdivision or taxing district which consent shall be evidenced by resolution to be adopted by the governing body thereof when authorized by vote of a majority in number and amount of the property taxpayers qualified to vote under the Constitution and laws of this state, who vote at an election held for that purpose after notice published or posted for thirty days in such manner as the legislature may prescribe. Each gas utility district created hereunder shall comprise a body corporate.
Acts 1960, No. 415, §1.