§332.48.  Disposition of certain collections in the city of Baker

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 city of Baker under the provisions of R.S. 47:331(C) and 332 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 the Baker Economic Development Fund as provided in and subject to the provisions of R.S. 47:302.50.

Acts 1999, No. 1324, §1, eff. July 1, 1999.