RS 2:659 Bonds as legal investments and lawful security - Louisiana Statutes

§659.  Bonds as legal investments and lawful security

NOTE:  Repealed by Acts 2008, No. 686, §3, eff. July 1, 2009, if the Department of Economic Development recommends that the Louisiana Transportation Center is not economically feasible or the department does not receive the appropriate funding to conduct the study.  See Acts 2008, No. 686, §§4 and 5.

The bonds issued pursuant to this Chapter shall be and are hereby declared to be legal and authorized investments for banks, savings banks, trust companies, building and loan associations, insurance companies, fiduciaries, trustees, and guardians.  Such bonds shall be eligible to secure the deposit of any and all public funds of the state and any and all public funds of municipalities, parishes, school districts, or other political corporations or subdivisions of the state.  Such bonds shall be lawful and sufficient security for said deposits to the extent of their value.

Acts 1992, No. 508, §1, June 22, 1992; Acts 2008, No. 686, §3.