§4160.9. Sale and delivery of certificates; use of proceeds
The governing authority of the municipality or parish issuing the
certificates may negotiate and deliver the certificates and collect the purchase
price therefor and do any and all things necessary and incidental thereto or
authorize the delivery to the contractor of all or any of the certificates in
payment of their contractual obligation covering the improvements. The funds
derived from the sale of the certificates shall be expended solely in payment
of the costs of the improvements and shall not be drawn upon for any other
purpose.
Acts 1990, No. 782, §1, eff. July 24, 1990.