Louisiana Revised Statutes 33:4710.16 – Prior to the issuance of bonds pursuant to this Chapter, any revenue of the authority derived from any source whatsoever may be used by the authority for the payment of the administr
Terms Used In Louisiana Revised Statutes 33:4710.16
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- projects: means one or more of any combination of convention, exhibition, and tourist facilities, including a convention center hotel with a multi-story parking garage and bridge connecting the hotel and the south end of the convention center, the "Convention Center Headquarters Hotel Project" and the necessary land, acquired by lease or purchase, site improvements, infrastructure, furnishings, machinery, equipment, and appurtenances for any such facility. See Louisiana Revised Statutes 33:4710.11
Prior to the issuance of bonds pursuant to this Chapter, any revenue of the authority derived from any source whatsoever may be used by the authority for the payment of the administrative and operating expenses of the board and for the payment of any expenses incurred in determining the feasibility of a project or projects and developing plans therefor, including engineering, architectural, legal, and administrative costs and fees incidental thereto. Any revenue of the authority remaining at the end of each fiscal year prior to the issuance of bonds and after the payment of such expenses shall be considered surplus and may, in the sole discretion of the authority, be distributed by the authority to the city of New Orleans or retained by authority for utilization on future expenses, capital expenditures, or costs reasonably anticipated to be incurred.
Acts 2019, No. 172, §1.