Louisiana Revised Statutes Tit. 47, § 332.4. Disposition of certain collections in St. John the Baptist Parish

A. The avails of the tax imposed by R.S. 47:302 and the avails of the tax imposed by R.S. 47:331 from the sales of services as defined in R.S. 47:301.3(1) in the parish of St. John the Baptist under the provisions of R.S. 47:302(C), 331(C), and 332, 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 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 “St. John the Baptist Convention Facility Fund”.

B. The monies in the St. John the Baptist Convention Facility Fund shall be subject to an annual appropriation by the legislature. The monies in the fund shall be available exclusively for economic development and tourism purposes, for acquisition of land, and for acquisition and/or construction of buildings for use as the St. John the Baptist Convention Facility. 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 in the state general fund.