The Louisiana Municipal Association (LMA) filed its friend of the court brief supporting Lafayette in the fiber fight Friday, according to a story that appeared on the Advertiser site this afternoon.
The LMA argues that the Third Circuit’s decision is out of line with previous law and practice saying:
“Under Louisiana Law, a ‘pledge’ has always included the right to use a stream of cash to pay a credit or principal and interest as these come due,” LMA said in its court filing.
The brief contends that this has serious consequences, the decision,
if not corrected, could call into question virtually any local government’s ability to pledge money to repay bonds, officials say.
The attempt to run over Lafayette using legal bullying is turning out to have serious consequences for other communities. It’s good to have an ally in this fight.
