---
urn: urn:us-la:rs:40:480
citation: "R.S. 40:480"
status: active
breadcrumb: "Title 40 › Chapter 3 › Part I › Subpart D"
acts_citations:
  - { year: 1997, number: 1188, section: 1, effective_date: null, role: enactment }
---

# Essential governmental purpose

All bonds, notes, certificates, and other instruments evidencing indebtedness or conveying equity participations issued by a local housing authority or any subsidiary thereof are deemed to be issued for an essential governmental purpose.