§322.17.  Disposition of certain collections in Morehouse Parish

A.  The avails of the tax imposed by R.S. 47:321 from the sales of services as defined in R.S. 47:301(14)(a) in Morehouse Parish under the provisions of R.S. 47:321(C) and 322, 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 of 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 designated as the "Bastrop Municipal Center Fund".

B.  The monies in the Bastrop Municipal Center Fund shall be subject to annual appropriation by the legislature.  The monies in the fund shall be available exclusively for use by the city of Bastrop for operations, maintenance, renovations, and repairs to the Municipal Center.  All unexpended and unencumbered monies in the fund at the end of any 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. 1289, §1, eff. July 1, 1997.