La. Stat. tit. 45 § 1137
Current with changes from the 2024 Legislative Session
Any bonds issued under this Part shall be payable from and secured by pledge of the revenues derived from the operation of the utility constructed, acquired, extended or improved with the proceeds thereof, sufficient in amount at all times to meet the required debt service subject only to the prior payment of the reasonable and necessary expenses of operating and maintaining such utility.
La. R.S. § 45:1137