§ 2-171. Incorporation.

(a)

The industrial development board shall be formed according to the articles of incorporation annexed to and made part of the application, filed by the qualified electors of and taxpayers in the parish, a copy of which is recorded in Minute Book 11, at page 498 et seq.

(b)

The parish and the parish council shall not in any event be liable for the payment of the principal or interest on any bonds of the industrial development board, or for the performance of any pledge, mortgage, obligation or agreement of any kind whatsoever which may be undertaken by the industrial development board, and none of the bonds of the industrial development board or any of its agreements or obligations shall be construed to constitute an indebtedness of the parish or the parish council within the meaning of any constitutional or statutory provisions whatsoever.

(Code 1975, § 2:251)