ENROLLED
2016 Regular Session
HOUSE RESOLUTION NO. 231
BY REPRESENTATIVES BARRAS, ADAMS, AMEDEE, BACALA, BAGLEY,
BERTHELOT, BISHOP, BROADWATER, CARMODY, STEVE CARTER,
CONNICK, COUSSAN, DAVIS, DEVILLIER, EDMONDS, EMERSON,
FALCONER, FOIL, GAROFALO, GUINN, LANCE HARRIS, HAVARD, HAZEL,
HENRY, HENSGENS, HILFERTY, HOFFMANN, HOLLIS, HORTON,
HOWARD, HUNTER, HUVAL, MIKE JOHNSON, MACK, MIGUEZ, GREGORY
MILLER, JAY MORRIS, JIM MORRIS, PEARSON, POPE, PUGH, PYLANT,
RICHARD, SCHEXNAYDER, SCHRODER, SEABAUGH, STOKES, TALBOT,
AND WILLMOTT
A RESOLUTION
To direct 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.
WHEREAS, Article VII, Section 9(B) of the Constitution of Louisiana requires all
money deposited into the state treasury to be credited to the Bond Security and Redemption
Fund; and
WHEREAS, Article VII, Section 9(B) of the Constitution of Louisiana requires that
in each fiscal year an amount is allocated from the Bond Security and Redemption Fund to
pay all the debt obligations of the state; and
WHEREAS, in the past, debt service payments have been made using only state
general fund (direct); and
WHEREAS, agencies that are not appropriated revenues from state general fund
(direct) have not shared in the allocation of the payment of debt service; and
WHEREAS, the majority of the constitutional provisions and laws which create
dedications specifically require that monies dedicated to the special treasury fund are
credited to the Bond Security and Redemption Fund before deposit into the dedicated fund;
and
WHEREAS, debt service payments in Fiscal Year 2016-2017 are expected to be
approximately $400 million; and
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WHEREAS, crediting monies received by the state, prior to deposit into
constitutional and statutory dedications, into the Bond Security and Redemption Fund for
the purpose of debt service payments will allow for approximately $74 million to be
allocated for debt service payments.
THEREFORE, BE IT RESOLVED that the House of Representatives of the
Legislature of Louisiana does hereby direct 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.
BE IT FURTHER RESOLVED that a copy of this Resolution be sent to the treasurer.
SPEAKER OF THE HOUSE OF REPRESENTATIVES
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