NOTE: §616.1 eff. until July 1, 2021. See Acts 2018, No. 569.
§616.1. Unpaid holder of matured bonds
Any holder of any outstanding bond of any such political subdivision issued under this Subpart, which has matured and has not been paid for lack of funds, upon surrendering such bond to the issuing authority, may receive in substitution therefor a refunding bond of the same amount, with such rate or rates of interest not exceeding the maximum authorized by Act 19 [R.S. 39:1421 to 39:1426], and such maturity not longer than forty years after the date of the refunding bond as is agreed upon between the holder of the outstanding bond or other evidence of indebtedness and the issuing authority.
NOTE: §616.1 as repealed by Acts 2018, No. 569, eff. July 1, 2021.
§616.1. Repealed by Acts 2018, No. 569, §2, eff. July 1, 2021.
Added by Acts 1975, No. 163, §1; Acts 2018, No. 569, §2, eff. July 1, 2021.
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