§8055.  Authority as political subdivision

The authority is hereby declared to be a political subdivision of the state.  For carrying out the purposes of this Chapter, the authority, under the provisions of the Constitution of Louisiana, shall have the power to incur debt and issue bonds, consistent with state laws, for the purposes for which the authority is created.

Acts 1992, No. 1061, §1, eff. Jan. 1, 1993.