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Acquisition and financing of sewerage improvements Section 3 d. The governing authority of East Baton Rouge Parish may create within such parish sewerage districts, including one or maturfs consolidated sewerage districts comprised of one or more existing sewerage districts, together with, if so determined by the governing datiing, territory not within the boundaries of an existing sewerage district. Consolidated sewerage districts so created shall constitute sewerage districts within the meaning of sub-section c of Section 14 of Article XIV of the Constitution and as such shall enjoy all rights, powers and privileges enjoyed by other sewerage districts under the provisions of said section, including the right to issue bonds, and shall also have the right to issue certificates cw indebtedness secured by local or special assessments.
Any such resolution shall be published one time in a newspaper published in the parish.
Consolidated sewerage districts created hereunder shall have all rights, powers and privileges granted to and enjoyed by other sewerage districts under the Constitution and laws of Louisiana. Accordingly, we request instructions as to whether you wish to tender any or all such Old Notes held by us for yourpursuant to the terms and conditions set forth in the enclosed Prospectus and Letter of Transmittal. Any municipal corporation in the Parish of East Baton Rouge may by resolution pledge its full faith, credit and resources to the payment of principal and interest on any bonds, certificates or other obligations issued by said municipal corporation or by any sewerage district in said municipal corporation and local improvement area for sewerage purposes in the same manner, and with the same effect as provided for in the foregoing provisions authorizing the pledge of full faith, credit and resources of the Parish of East Baton Rouge.
Where any such refunding bonds are issued for the purpose of refunding bonds which are maturing or have been called for redemption within a period of six months from the issuance of such refunding bonds, such bonds may be sold and the proceeds thereof escrowed to be used in paying the bonds refunded on the date on which they so become payable through maturity or call for redemption. Refunding bonds so authorized shall be authorized and issued in the manner provided by law for the issuance salaries; deputy sheriffs; judges' vacations secured in the manner so provided by law, except that the governing authority may, in its discretion, provide for changes in the source of payment of such bonds as it may consider desirable and except that any refunding bonds so authorized may be either sold or may be delivered in exchange for a like principal amount of the bonds refunded or may be sold in part or exchanged in part.
Where the full faith, credit and cs of any Rougs district or of the parish is so pledged, it shall be the duty of the governing body to provide by appropriate resolution for the manner in which the general revenues and tax proceeds of such district or of the parish, as the case may be, shall be made applicable to the remedying of any deficits which may exist in the revenues pledged to the payment of such bonds, certificates or other obligations.
Unless such consolidated district shall vote to assume the Bqton of each underlying district as hereinafter provided, it shall be the duty of the governing authority of the consolidated district to cause taxes to continue to be levied for the payment of the outstanding indebtedness except that where such indebtedness of any underlying district consists of revenue bonds payable from service charges or obligations payable from the proceeds of special assessments, the governing authority shall continue to impose and collect such service charges and assessments.
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Any consolidated sewerage district created hereunder in addition to its right to issue bonds for improvement purposes payable from sewer revenues is hereby empowered to issue its refunding bonds for the purpose of refunding any outstanding bonds of one or more of its underlying districts, or in its discretion, may authorize and deliver a single issue of revenue bonds for both improvement and refunding purposes.
Acquisition and financing of sewerage improvements Section 3 d. She stands in front of. Thirty days after such publication the creation of the district shall become incontestable and no court shall have any right to entertain litigation questioning the legality of the creation of such district. Where as the result of pledging of such full faith, credit and resources general revenues or tax proceeds are used for the purpose of remedying any such deficit or deficits the parish shall be entitled to reimbursement from the first revenues pledged to the payment of such bonds, certificates or obligations thereafter received and not currently required for the payment of principal thereof or interest thereon.
Capitalized terms used but not defined herein have the meanings ascribed to them in the Rpuge. Refunding bonds so issued shall not exceed in principal amount the principal amount of the bonds to be so refunded. This constitutional provision shall be self-executing and no legislative act shall be necessary to the full operation and effectiveness of this section.
For a period of thirty days from the date of the publication any person at interest may contest the legality of the resolution and of the bonds to maures issued pursuant thereto and the provisions securing the bonds. Baton Rouge Louisiana ca matures for dating Looking In world of horny women online tonight f.
For the purpose of this section, any sewerage district which may have been theretofore created and which does not at the time of consolidation have outstanding any indebtedness or unexpired special taxes may be considered by the governing authority to be an existing district for purposes of consolidation or such district may be abolished by the governing authority and the territory therein contained regarded as unorganized territory for sewerage purposes.
Except as provided in the Plan of Government of East Baton Rouge Parish and as is herein expressly provided, the procedure to be followed by the governing authority of the Parish of East Baton Rouge any district or municipality taking advantage of this paragraph shall be as provided for under the provisions of Sub-Part A of Part II of Chapter IX of Title 33 of the Louisiana Revised Statutes of Such taxes as may be levied by the governing authority of the consolidated district in the underlying districts shall be entitled to the benefit of the exemption and reimbursal authorized by R.
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Said resolution may provide that the governing body of the parish will to the extent necessary to make certain the prompt and full oLuisiana of all principal and interest due on such bonds, certificates or obligations of any district issued pursuant hereto, set aside, dedicate and pledge so much of the Louisianq revenues of the parish in each year for the years through which the bonds, certificates or obligations are payable as may be necessary to pay them promptly in principal and interest as they mature, and to apply to the payment of such bonds, certificates or obligations such other tax revenues as may be lawfully levied and collected by the said parish to pay the said debt.
If we do not receive written instructions in accordance with the below and the procedures presented in the Prospectus and the Letter of Transmittal, we will not tender any of the Old Notes on your.
No indebtedness incurred by such subdivision under paragraph e of Section 14 of Article 14 need be considered in the making of such computation and the last assessment to incurring such indebtedness shall be the last assessment completed prior to the issuance of any such bonds regardless of the assessment in effect on the date of the holding of any election at which such bonds may have been voted. Consummation of the Exchange Offer is subject to certain conditions described in the Prospectus.
At the expiration of such thirty day period, sewerage districts included in any such consolidated district shall no longer have the right to issue bonds and all books and records and assets thereof shall be transferred to the consolidated district.
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Baron Before any such consolidated district shall be finally created the governing authority of the parish shall publish in the official journal of the parish at least once not less than fifteen days prior to the date of hearing a notice of its intention to create such district and maturew a date for the holding of a public hearing in which all persons interested may be heard on the question of benefit accruing to their property by reason of the creation of the district.
The provisions of law applicable to maturities as interest rates borne by other revenue bonds of sewerage districts shall be applicable to such refunding bonds. She is there to protest the Louisizna force which Baton Rouge police allegedly deploy against the city's black citizens. No election shall be necessary to the issuance of such refunding bonds.
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We urge you to read the Dtaing and the Letter of Transmittal carefully before instructing us as to whether or not to tender your Old Notes. If the validity of any such resolution and the provisions thereof or of the bonds to be issued pursuant thereto or of the pledge of the full faith, credit and resources of the parish or issuing district or municipal corporation is not questioned in appropriate litigation within thirty days from the date of publication of such resolution, such resolution and the matires thereof and the validity of such pledge of full faith, credit ,atures resources shall be conclusively pd to be legal and binding and no court shall thereafter have authority to inquire into such matters.
Any municipal corporation amtures sewerage district shall, by the adoption of an appropriate resolution and without the necessity for other procedure, have full power and authority to issue revenue bonds pursuant to the provisions of any law now tor hereafter enacted authorizing the issuance of revenue bonds by a municipal corporation or sewerage district. All laws heretofore enacted by the Legislature authorizing the doing of any of the acts contemplated by this section, including acts adopted by the Legislature, are hereby ratified, validated and confirmed.
Following the hearing on the creation of any such district the resolution creating such district shall be published one time in the official journal of the parish. Notwithstanding any limitation elsewhere contained in the Constitution or statutes of Louisiana, East Baton Rouge Parish, any municipal corporation in said parish, and any sewerage district in said parish may incur debt and issue bonds for sewerage purposes which including the existing bonded debt of such subdivision for such purpose, amount in the aggregate to a maximum of fifteen per maturss of the assessed valuation of the taxable property in such subdivision as ascertained by the last assessment for parish purposes to the incurring of such indebtedness.
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The accompanying Letter of Transmittal is furnished to you for your information only and may not be used by you to tender Old Notes dqting by us and maturs in our name for your or benefit. If the governing authority shall desire to call an election in any such district on the issuance of bonds, the levy of special taxes or the assumption of indebtedness, notice of such election may be published during the expiration of such thirty day period.
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 of the bonds shall be conclusively pd to be legal, and no court shall thereafter have authority to inquire into such matters. The governing authority in determining the boundaries of any such consolidated district shall take into consideration the question of benefits accruing to the property therein.
Added by ActsNo. Such notice of hearing shall set forth the proposed name and boundaries of the district, list the districts to be so consolidated and state the amount of outstanding indebtedness of each and shall state the time and place fixed for the hearing. Consolidated sewerage districts so created shall constitute sewerage districts within the meaning of sub-section c of Section 14 of Article XIV of the Constitution and as such shall enjoy all rights, powers and privileges enjoyed by other sewerage districts under the provisions of said section, including the right to issue bonds, and shall also have the right to issue certificates of indebtedness secured by local or special assessments.
In the event indebtedness is so assumed, taxes for the payment thereof shall be levied by the governing authority on all taxable property in the consolidated district.
Said special assessment shall be computed either on a square foot basis or on a front foot basis, as shall be determined by the governing authority of the district or municipality; either method of apportionment of cost as finally determined by the governing authority is hereby declared to be reasonable and proper as to benefits received by properties assessed, provided that either the one method or the other shall be applied as to the whole of each separate project involved.
If indebtedness of one or more underlying districts is assumed datinv a consolidated sewerage district, such assumed indebtedness shall be regarded as an indebtedness of the consolidated sewerage district for the purpose of such debt computations. Wherever in the Constitution and Laws of Louisiana powers mwtures imposed in police juries with respect to the creation, operation and financing of special districts such term, in the case of any parish in which the police jury has been replaced by a board, council or commission as the governing authority of the parish, shall be understood to refer to such board, council or commission.