SB 149 — BONDS: Provides relative to the issuance and sale of general obligation bonds. (gov sig) (EN NO IMPACT See Note)

SLS 26RS-383 ENGROSSED Regular Session ENROLLED SENATE BILL NO.

149 BY SENATOR FOIL BONDS.AN ACT To amend and reenactR.S.

Provides39:1365(7) relativeand to(10) the issuance and saleto ofenact generalR.S. obligation bonds.

(gov17:3394.3(D)(6), sig)relative ANtotheissuanceandsaleofgeneralobligationbonds;toprovideforbidrequirements; ACT To amend and reenactR.S.

39:1365(7) and (10), relative to the issuance and sale of general obligation bonds;

to provide for bid requirements;

to provide forrelative anto effectivethe issuance of bonds to financecertaincapitalimprovementswithintheLouisianaCommunityandTechnical Collegesystem;toproviderelativetomatchrequirements;toprovideforaneffective date;

17:3394.3(D)(6) is hereby enacted to read as follows:

§3394.3.

Authority of board to execute agreements related to the finance of capital improvements and enhancements;

nonprofit corporation;

administration and management of projects * * * D.

* * * (6) Notwithstanding the provisions of Paragraph (2) of this Subsection tothecontrary,theNorthshoreTechnicalCommunityCollege-HammondArea Campusprojectshallnotrequireamatchinordertobefinancedinaccordance with this Section.

Section 2.

R.S.

Each bid, except for bids by the federal government or the state of Louisiana or any of their respective agencies or corporations, shall be accompanied by either a certified check or cashier's check for two percent of the par value of the bonds Page 1 of 43 Coding:

SLS 26RS-383 ENGROSSED SB NO.

149 ENROLLED Each bid, except for bids bythe federal government or the state of Louisiana or any of their respective agencies or corporations, shall be accompanied by either a certified check or cashier's check for two percent of the par value of the bonds offered for sale, drawn on a bank or trust company authorized to transact business in the state of Louisiana or in the state of New York, or a suretybond, in an amount equal to two percent of the par value of the bonds offered for sale, in the form and uponsuchtermsandprovisionsandbysuchsuretybondproviders,permittedbyand approved pursuant to procedures which may be established and authorized by the State Bond Commission, and such check or bond shall be payable to or in favor of the state treasurer of Louisiana on behalf of the state of Louisiana.

(i) A wire transfer of federal funds through the Federal Reserve Bank wire service originated by a bank or trust companyauthorizedtotransactbusinessinthestateofLouisianaorinthestatecompany authorized to transact business in the state of Louisiana or in the state of New York.

(d) The provisions of this Paragraph shall not apply to bids by the federalgovernmentorthestateofLouisianafederalgovernmentorthestateof oranyLouisiana oforanyoftheirrespectiveagencies theirrespectiveagencies or corporations.

* * * (10) The dates of maturityand the amount of bonds maturingmaturingat ateachdate each date of maturity, or the date of sinking fund installments and the amount of each sinking fund installment shall be determined bythe issuing agency.

It shall not be necessary thatPage amounts2 maturing at each date of maturity,3 orCoding: amounts of mandatory sinking fund installments, either as to principal or principal and interest, be equal.

The Page 2 of 4 Coding:

SLS 26RS-383 ENGROSSED SB NO.

149 maturityENROLLED datesthat andamounts maturing at each date of maturity, or amounts of mandatory sinking fund installmentinstallments, dateseither shallas beto atprincipal annual or semiannualprincipal intervalsand frominterest, datebe ofequal. bonds.

*The *maturity *dates Sectionand 2.mandatory sinking fund installment dates shall be at annual or semiannual intervals from date of bonds.

* * * Section 3.

ThePRESIDENT originalOF instrumentTHE andSENATE theSPEAKER followingOF digest,THE whichHOUSE constitutesOF noREPRESENTATIVES partGOVERNOR ofOF theTHE legislativeSTATE instrument,OF wereLOUISIANA preparedAPPROVED: bySenate Legislative Services.

ThePage keyword,3 summary, and digest do not constitute part of the3 lawCoding: or proof or indicia of legislative intent.

[R.S.

1:13(B) and 24:177(E)] DIGEST SB 149 Engrossed 2026 Regular Session Foil Presentlawprovidesrequirementsforauthorizingtheissuanceandsaleofgeneralobligation bonds by the state or any of its agencies.

Further requires each bid to be either in writing, signed by the bidder and sealed, or by facsimile or other electronic transmission device pursuant to procedures established bythe State Bond Commission.

Proposed law retains present law.

Present law requires each bid, except for bids by the federal government or the state of Louisiana,to beaccompaniedbyeitheracertifiedcheckorcashier's checkfor2%ofthepar value of the bonds offered for sale or a surety bond in an amount equal to 2% of the par value of the bonds offered for sale, pursuant to procedures established by the State Bond Commission.

Further requires the check or bond to be payable to the state treasurer.

Proposed law requires the winning bidder, within the timeframe established by the State Bond Commission for the sale, to provide for an amount equal to 2% of the par value of the bonds offered for sale on one of the following:

(1) A wire transferof federal funds originated bya bank or trust companyauthorized to transact business in the state of Louisiana or in the state of New York.

(2) A certified check or cashier's check drawn on a bank or trust companyauthorized to transact business in the state of Louisiana or in the state of New York.

(3) A surety bond in the form and upon such terms and provisions approved and authorized by the State Bond Commission.

Further requires the check or bond to be payable to the state treasurer.