§4140. New Orleans; tax exemption of bonds, investments; use as security; registration
Bonds issued under the authority of Section 4138 of this Part shall be exempt from all taxation for state, parish, municipal or other local purposes. Savings banks, tutors of minors, curators of interdicts, trustees and other fiduciaries may invest the funds in their hands in said bonds. Said bonds may be used for deposit with any officer, board, municipality or other political subdivision of the state of Louisiana, in any case where, by present or future laws, deposit or security is required. Said bonds may be registered and released from registry under such rules as the Board of Liquidation, City Debt, may prescribe.
Added by Acts 1978, No. 419, §1, eff. July 1, 1978.