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Rs 47:332.20 Disposition Of Certain Collections In St. Landry Parish

§332.20. Disposition of certain collections in St. Landry Parish

A. The avails of the tax imposed by R.S. 47:302, the avails of the tax imposed by R.S. 47:321, and the avails of the tax imposed by R.S. 47:331 from the sales of services as defined in R.S. 47:301(14)(a) in the parish of St. Landry under the provisions of R.S. 47:302(C), 321(C), 322, 331(C), and 332, as applicable, shall be credited to the Bond Security and Redemption Fund, and after a sufficient amount is allocated from that fund to pay all the obligations secured by the full faith and credit of the state which become due and payable within any fiscal year, the treasurer shall pay the remainder of such funds into a special fund which is hereby created in the state treasury and designated as the "St. Landry Parish Historical Development Fund No. 1". All unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund. The monies in the fund shall be invested by the treasurer in the same manner as the monies in the state general fund, and all interest earned shall be deposited in the state general fund. The monies in the fund shall be used solely as provided by Subsection B of this Section and only in the amounts appropriated by the legislature.

B. The monies in the St. Landry Parish Historical Development Fund No. 1 shall be subject to an annual appropriation by the legislature. An amount equal to the avails of the tax imposed by R.S. 47:302 shall be allocated exclusively for renovation, repair, reconstruction, maintenance, or for payment of principal, interest, or premium, if any, and other obligations incident to the issuance, security, and payment of bonds or other evidences of indebtedness, all related to the improvement and/or preservation of the Old City Hall - City Market in Opelousas operations of the Delta Grand and any other related tourism activities in St. Landry Parish. An amount equal to the avails of the tax imposed by R.S. 47:321 and 331 shall be allocated to the St. Landry Parish Tourist Commission for use exclusively in planning, development, or capital improvements of tourism sites in the parish of St. Landry.

Acts 1995, No. 1309, §1, eff. July 1, 1995; Acts 2001, No. 221, §1, eff. July 1, 2001; Acts 2007, No. 189, §1, eff. June 27, 2007; Acts 2012, No. 576, §2, eff. July 1, 2012.

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Local Government
John Bel Edwards
John Bel Edwards
January 11, 2016 -
900 North 3rd Street, Baton Rouge, LA, 70802