Louisiana Revised Statutes Tit. 47, § 302.18. Disposition of certain collections in Lafayette Parish

A. The avails of the tax imposed by this Chapter for the sale of services as defined by R.S. 47:301.3(1) in Lafayette Parish under the provisions of R.S. 47:302(C) 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 the “Lafayette Parish Visitor Enterprise Fund”.

B. The monies in that fund deposited pursuant to this Section shall be subject to annual appropriation by the legislature and shall be allocated equally for capital improvements for Lafayette Central Park, Inc. and planning, development, and capital improvements at or adjacent to the Cajundome as appropriated by the legislature. For the purposes of this Section, “capital improvements” shall mean expenditures for acquiring lands, buildings, equipment, or other permanent properties, or for their construction, preservation, development, or permanent improvement, or for payment of principal, interest, or premium, if any, and other obligations incident to the issuance, security, and payment of bonds or other evidences of indebtedness associated therewith.