The bill amends R.S. 34:335.4(C) concerning the Central Louisiana Regional Port, specifically addressing the issuance of bonds by the board of commissioners. The new legal language allows the board to incur debts and issue negotiable bonds or notes with the approval of the State Bond Commission, while also enabling them to secure these bonds through a conventional mortgage on properties they own or will acquire.

Significantly, the bill removes the previous limitation that restricted the amount of outstanding bonds or notes to ten million dollars. This change provides the board with greater flexibility in financing its operations and projects, as it can now potentially issue bonds beyond the previously established cap. Additionally, the board is permitted to accept financial assistance from various sources, which can also be pledged to secure the payment of the bonds or notes.

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