La. Stat. tit. 33 § 3051
Any municipality, parish or parish school board which has heretofore issued or hereafter issues bonds payable from a pledge and dedication of any portion of a local sales and use tax levied and collected under the authority of Subpart D of Part I of Chapter 6 of this Title, or any other law, may issue bonds for the purpose of refunding and unifying the whole or any part of the principal, interest and redemption premiums on the outstanding bonds. The refunding bonds may either be sold and the proceeds applied to or deposited in escrow for the retirement of the outstanding bonds, or may be delivered in exchange for the outstanding bonds. In the event the refunding bonds are delivered in advance of the dates when the original bonds mature or have been called for redemption, the escrowed refunding bond proceeds may be invested in U.S. Treasury Bonds, Notes, Certificates or Bills and the earnings from such investment shall be dedicated to the payment of principal or interest on the refunding bonds or the bonds being refunded. The refunding bonds shall be authorized, sold and issued in all respects as required by the statute under which the original bonds were issued, except that no election shall be necessary in the event the principal and interest requirements on the refunding bonds is less in each year than the principal and interest which would have been required in such year by the bonds being refunded, however, in the event the principal and interest requirements are increased in each year, such refunding bonds may be issued as herein authorized only after being approved by a majority of the electors voting at an election held for that purpose in the particular political subdivision in accordance with the general election laws. The governing body, in authorizing the refunding bonds, shall provide for the security of the bonds in accordance with the law under which the original bonds were issued and for the rights of the holders thereof in accordance with the provisions of said law. The governing body may also provide that the refunding bonds shall have the same priority of lien on the sales and use tax revenues pledged for their payment as was enjoyed by the bonds refunded.
La. R.S. § 33:3051