RS 34:446: Anticipation of revenues; certificates of indebtedness

The boards of commissioners may anticipate for one year, fifty per cent of its annual revenues from taxation, based on the total assessment of the district for the previous year, and for that purpose may issue certificates of indebtedness, bearing not more than six per cent interest, maturing not more than one year after date, signed by the president or vice-president and by the secretary, and in such form as the board may determine.