Resolution for assumption of indebtedness ACTIVE

If a majority in number and amount of the qualified property taxpayers voting at the election shall vote in favor of the proposition for the consolidated gravity drainage district to assume the outstanding bonded debt and other indebtedness of any drainage district or districts, wholly within the parish, the board of commissioners of the consolidated gravity drainage district, after promulgation of the result of the election shall by resolution, on behalf of the consolidated gravity drainage district, assume the outstanding bonded debt or other indebtedness, which shall be fully set forth in the resolution as to the amount, rate of interest, maturity, numbers, denominations, and places of payment.