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LIST OF LAWS OF LAGOS, [ALPHABETICAL]
BONDS, NOTES AND OTHER SECURITIES ISSUANCE LAW
ARRANGEMENT OF SECTIONS
1. Establishment of a Consolidated Debt Service Account
2. Appropriation of Funds
3. Sinking Fund
4. Appointment of trustees
5. Investment of the Fund
6. Cessation of contributions to the Fund
7. Expenses to be paid out of the Sinking Fund
8. Deficiency in Sinking Fund chargeable on revenue
9. Power to raise loans
10. Issuance of bonds etc.
11. Redemption date of instruments
12. Method of issuance
13. Arrangements for issuance of instruments
14. Application of loan receipts
15. Registrar
16. Register of instruments
17. Closing of the register
18. Register a conclusive evidence of facts entered in it
19. Transfer of registered instruments
21. Registration of transfers and liens on instruments
21. Rating of instruments
22. Notice of trust
23. Inspection of register
24. Power to make regulations
25. Repeal L.18 LLS 2003
26. Interpretation
27. Citation and commencement
SCHEDULE
APPENDIX 1
BONDS, NOTES AND OTHER SECURITIES ISSUANCE LAW
A LAW TO PROVIDE FOR RAISING OF LOANS THROUGH ISSUANCE OF BONDS, NOTES AND OTHER SECURITIES AND FOR CONNECTED PURPOSES
[Commencement] [19th August 2008]
THE LAGOS STATE HOUSE OF ASSEMBLY enacts as follows:
1. Establishment of a Consolidated Debt Service Account
A Consolidated Debt Service Account which is a saving account to be fully funded from the 15% appropriation of the monthly Internally Generated Revenue of the State is established to service the debt obligations of the State under this under this Law.
LAWS OF LAGOS STATE
LAWS OF THE FEDERAL REPUBLIC OF NIGERIA