HLS 16RS-5162 ORIGINAL
2016 Regular Session
HOUSE RESOLUTION NO. 231
BY REPRESENTATIVE BARRAS
FUNDS/FUNDING: Directs the treasurer to allocate money deposited into the state treasury
from constitutional and statutory dedications that flow through the Bond Security
and Redemption Fund for the purpose of paying state debt
1 A RESOLUTION
2To direct the treasurer to allocate money deposited into the state treasury from constitutional
3 and statutory dedications that flow through the Bond Security and Redemption Fund
4 for the purpose of paying debt service.
5 WHEREAS, Article VII, Section 9(B) of the Constitution of Louisiana requires all
6money deposited into the state treasury to be credited to the Bond Security and Redemption
7Fund ; and
8 WHEREAS, Article VII, Section 9(B) of the Constitution of Louisiana requires that
9in each fiscal year an amount is allocated from the Bond Security and Redemption Fund to
10pay all the debt obligations of the state; and
11 WHEREAS, in the past, debt service payments have been made using only state
12general fund (direct); and
13 WHEREAS, agencies that are not appropriated revenues from state general fund
14(direct) have not shared in the allocation of the payment of debt service; and
15 WHEREAS, the majority of the constitutional provisions and laws which create
16dedications specifically require that monies dedicated to the special treasury fund are
17credited to the Bond Security and Redemption Fund before deposit into the dedicated fund;
18and
19 WHEREAS, debt service payments in Fiscal Year 2016-2017 are expected to be
20approximately $400 million; and
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HR NO. 231
1 WHEREAS, crediting monies received by the state, prior to deposit into
2constitutional and statutory dedications, into the Bond Security and Redemption Fund for
3the purpose of debt service payments will allow for approximately $74 million to be
4allocated for debt service payments.
5 THEREFORE, BE IT RESOLVED that the House of Representatives of the
6Legislature of Louisiana does hereby direct the treasurer to allocate money deposited into
7the state treasury from constitutional and statutory dedications that flow through the Bond
8Security and Redemption Fund for the purpose of paying debt service.
9 BE IT FURTHER RESOLVED that a copy of this Resolution be sent to the treasurer.
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HR 231 Original 2016 Regular Session Barras
Directs the treasurer to allocate money deposited into the state treasury from constitutional
and statutory dedications that flow through the Bond Security and Redemption Fund for the
purpose of paying debt service.
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