Louisiana Revised Statutes Tit. 47, § 302.15. Disposition of certain collections in Webster Parish

A. The avails of the tax imposed by this Chapter for the sale of services as defined in R.S. 47:301(14)(a) in Webster Parish under the provisions of R.S. 47:302(C) in each fiscal year 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 “Webster Parish Convention and Visitors Commission Fund”.

B. The monies in the Webster Parish Convention and Visitors Commission Fund shall be appropriated each fiscal year by the legislature. The monies in the fund shall be available to the Webster Parish Convention and Visitors Commission to fund the development of tourism and other economic growth projects within the parish of Webster. All unexpended and unencumbered monies in the fund 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 into the fund.