§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.