Terms Used In Louisiana Revised Statutes 47:322.32

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • 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.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.

A.  The avails of the tax imposed by this Chapter from the sale of services as defined in La. Rev. Stat. 47:301(14)(a) in Rapides Parish under the provisions of La. Rev. Stat. 47:321(C) and 322 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 became due and payable within any fiscal year, the treasurer shall pay twenty-five percent of the remainder of such funds into a special fund in the state treasury designated as the “Rapides Parish Economic Development Fund”, twenty-five percent into a special fund in the state treasury designated as the “Alexandria/Pineville Area Tourism Fund”, twenty-five percent to the Pineville Economic Development Fund created pursuant to La. Rev. Stat. 47:302.30 to be subject to the provisions of and used as provided in La. Rev. Stat. 47:302.30, and twenty-five percent into a special fund in the state treasury designated as the “Rapides Parish Coliseum Fund”.

B.(1)  The monies in the Rapides Parish Economic Development Fund shall be subject to an annual appropriation of the legislature.  The monies in the fund shall be used for economic development purposes in Rapides Parish by the city of Alexandria.  All unexpended and unencumbered monies remaining 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.

(2)  The monies in the Alexandria/Pineville Area Tourism Fund shall be subject to an annual appropriation of the legislature.  The monies in the fund shall be used for tourism promotion in Rapides Parish by the Alexandria/Pineville Area Convention and Visitors Bureau.  All unexpended and unencumbered monies remaining 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.

(3)  The monies in the Rapides Parish Coliseum Fund shall be subject to an annual appropriation by the legislature.  The monies in the fund shall be used by the governing authority of Rapides Parish solely and exclusively for expenses for and associated with the Rapides Parish Coliseum.  All unexpended and unencumbered monies remaining 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.

Acts 1997, No. 370, §1, eff. July 1, 1997; Acts 1997, No. 1289, §8, eff. July 1, 1998.