RS 33:4545.10: Sale of capacity and output by the Authority

The Authority may sell or exchange the capacity or output of a project not then required by participating municipalities under their contracts with the Authority for such consideration and for such period and upon such other terms and conditions as may be determined by the parties, to any person, firm, association or corporation, public or private; provided, however, that the Authority shall make no sales of excess capacity or output of a project in such amounts, for such periods of time, and under such terms and conditions as will cause the interest on bonds issued to finance the cost of a project to become taxable by the federal government.