Senate Bill No. aims to amend R.S. 34:335.4(C) concerning the Central Louisiana Regional Port by updating the requirements for the issuance of bonds. The bill allows the board of commissioners to incur debts and issue negotiable bonds or notes with the approval of the State Bond Commission. It also enables the board to secure these bonds and notes through a pledge of revenues from its operations or taxes, as well as through conventional mortgages on properties it constructs or acquires.

A significant change in the bill is the removal of the previous limit on the amount of outstanding bonds or notes, which was capped at ten million dollars. This deletion provides the board with greater flexibility in financing its projects without being constrained by a specific monetary threshold. Additionally, the board is permitted to receive financial assistance from various sources, which can also be pledged to secure the payment of its bonds or notes.

Statutes affected:
SB50 Original: 34:4(C)
SB50 Engrossed: 34:4(C)
SB50 Enrolled: 34:4(C)