La. R.S. 47:338.68 — Funding of tax receipts into bonds

Any parish, parish school board or incorporated municipality entitled to receive any
avails or proceeds of any sales or use tax, or sales and use tax, imposed under the authority
of R.S. 47:338.48 through 338.78; and any parish or incorporated municipality entitled to
receive any avails or proceeds of any sales or use tax, or sales and use tax, under any other
statutory authority including, but not limited to, R.S. 47:338.84 and 338.85 and Act 188 of
the Legislature of 1954, and whether imposed by the parish or by a municipality, without
regard to whether such tax is now being levied, may through its governing body fund into
bonds not to exceed seventy-five per centum of the avails of the tax as hereafter provided for
the purpose of paying all or any part of the cost of one or more public improvements. Such
proceeds or avails are hereinafter sometimes referred to as the "sales tax revenues". If the
sales tax revenues are derived from taxes imposed pursuant to authority contained in R.S.
47:338.48 through 338.78, then such bonds may be issued by the parish, municipality or
school board, as the case may be, for any one or more purposes as provided by R.S.
47:338.67, and as shall be approved by the electors. If the sales tax revenues are derived
from taxes imposed under any other statutory authority including, but not limited to, R.S.
47:338.84 and 338.85 and Act 188 of the Legislature of 1954, bonds may be issued
hereunder for any lawful public improvement consistent with the purpose of the tax as set
forth in the law and proceedings pursuant to which it is imposed.
Acts 1957, No. 50, §1. Amended by Acts 1966, No. 509, §1; Redesignated from R.S.
33:2724 pursuant to Acts 2011, No. 248, §4.