La. Stat. tit. 39 § 1177
Current with changes from the 2024 legislative session effective on or before 7/1/2024, from Acts 1-3, 6-671
The certificates of indebtedness may be sold at either private or public sale within the discretion of the issuing bodies but no certificate shall be sold for less than par plus accrued interest to the date of delivery, and no certificate shall bear a greater rate of interest than six per cent per annum, payable semi-annually, or annually within the discretion of the issuing body, or run for a longer period than twenty-five years from its date.
La. R.S. § 39:1177