§1874.  Maximum loan; maximum aggregate amount; interest; terms

A.  Each loan guarantee shall be limited to the maximum established in Subsection B for each parish or district.  The total amount of all outstanding loans shall not at any time exceed six million dollars.  The interest rate shall not exceed seven percent per annum.  The term of each loan shall not exceed a maximum of four years.

B.  Each assessor in the state is authorized to borrow an amount to defray the costs of reappraisal and reassessment as required by Article VII, Part II of the constitution, not to exceed the following:

PARISH/DISTRICT

AMOUNT

Acadia

$   82,380

Allen

32,772

Ascension

64,644

Assumption

31,440

Avoyelles

61,020

Beauregard

40,536

Bienville

26,760

Bossier

106,692

Caddo

379,116

Calcasieu

241,212

Caldwell

16,776

Cameron

14,148

Catahoula

18,192

Claiborne

26,928

Concordia

34,824

DeSoto

36,744

East Baton Rouge

501,623

East Carroll

18,384

East Feliciana

25,056

Evangeline

51,216

Franklin

37,368

Grant

24,156

Iberia

95,028

Iberville

46,296

Jackson

26,760

Jefferson

621,575

Jefferson Davis

46,632

Lafayette

191,892

Lafourche

115,368

LaSalle

24,360

Lincoln

55,140

Livingston

68,052

Madison

22,332

Morehouse

51,420

Natchitoches

55,704

1st District, Orleans

126,686

2nd District, Orleans

126,686

3rd District, Orleans

126,686

4th District, Orleans

126,686

5th District, Orleans

126,686

6th District, Orleans

126,686

7th District, Orleans

126,686

Ouachita

205,548

Plaquemines

38,364

Pointe Coupee

34,044

Rapides

189,612

Red River

15,072

Richland

33,912

Sabine

32,784

St. Bernard

96,828

St. Charles

50,916

St. Helena

15,156

St. James

30,684

St. John the Baptist

38,496

St. Landry

124,644

St. Martin

54,996

St. Mary

89,568

St. Tammany

120,900

Tangipahoa

110,844

Tensas

13,512

Terrebonne

126,132

Union

32,412

Vermilion

70,068

Vernon

73,584

Washington

68,940

Webster

66,036

West Baton Rouge

27,708

West Carroll

20,772

West Feliciana

12,720

Winn

      26,400

TOTAL

$6,000,000

Added by Acts 1977, No. 571, §1, eff. July 15, 1977; H.C.R. No. 88, 1993 R.S., eff. May 30, 1993; H.C.R. No. 1, 1994 R.S., eff. May 11, 1994.