RS 33:3459 - Sale and delivery of certificates The governing authority of the municipality issuing the certificates, may, by resolution, authorize the chief executive officer, and the clerk or secretary, to negotiate and deliver the Local Improvement Certificates of the City of __________, Louisiana, and collect the purchase price therefor, and do any and all things necessary and incidental thereto, or authorize delivery to the contractor of all or any of the certificates in payment of their contractual obligation covering the improvement or improvements. The funds derived from the sale of the said certificates shall be expended solely in payment of the costs of the improvement or improvements, and shall not be drawn upon for any other purpose. Added by Acts 1970, No. 21, §1, emerg. eff. June 11, 1970, at 12:00 Noon.
Louisiana Legal Code