SLS 19RS-216 ORIGINAL
2019 Regular Session
SENATE BILL NO. 44
BY SENATOR JOHNS
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
FUNDS/FUNDING. Authorizes the city of Lake Charles to bond certain state sales taxes
dedicated to the Lake Charles Civic Center Fund. (gov sig)
1 AN ACT
2 To amend and reenact R.S. 47:322.11(B), relative to the Lake Charles Civic Center Fund;
3 to provide relative to the issuance of bonds payable from the Lake Charles Civic
4 Center Fund; to authorize the city of Lake Charles to issue bonds secured by and
5 payable from the Lake Charles Civic Center Fund; and to provide for related matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 47:322.11(B) is hereby amended and reenacted to read as follows:
8 ยง322.11. Disposition of certain collections in Calcasieu Parish
9 * * *
10 B.(1) The avails from the sales of services in Ward 3 of Calcasieu Parish
11 shall be deposited in and credited to a special fund which is hereby created in the
12 state treasury and designated as the "Lake Charles Civic Center Fund". The monies
13 in the Lake Charles Civic Center Fund shall be subject to annual appropriation by the
14 legislature. The monies in the fund shall be available exclusively for use by the city
15 of Lake Charles for the operation, maintenance, and capital improvements for the
16 Lake Charles Civic Center in Calcasieu Parish. All unexpended and unencumbered
17 monies in the fund shall remain in the fund. The monies in the fund shall be invested
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 44
SLS 19RS-216 ORIGINAL
1 by the treasurer in the same manner as the monies in the general fund, and all interest
2 earned shall be deposited into the state general fund.
3 (2) The city of Lake Charles Civic Center Authority may issue bonds
4 payable from a pledge and dedication of the amounts amount of proceeds of the tax
5 in the Lake Charles Civic Center Fund. However, prior to the issuance of such
6 bonds, the city of Lake Charles Civic Center Authority shall obtain the approval of
7 a majority of the members of the governing authority of Calcasieu Parish, and the
8 approval, given by majority vote, of each other governing authority which appoints
9 members to the Lake Charles Civic Center Authority.
10 (3) Whenever such bonds are issued, the legislature shall annually
11 appropriate, to the extent of deposits in the fund, monies sufficient to pay the
12 principal, interest, and premium, if any, due on the bonds each year. If the
13 legislature, after a diligent and good faith effort, fails to appropriate sufficient
14 monies to pay the principal, interest, and premium, if any, due on the bonds each
15 year, or if such appropriation cannot be effected, the state shall in no way be a party
16 to any contractual rights arising from the bonds issued, nor shall the state be in any
17 way obligated for any payments due to holders of the bonds issued under the
18 provisions of this Section.
19 (4) Bonds issued pursuant to this Subsection shall not be subject to the
20 provisions of R.S. 39:112(G).
21 * * *
22 Section 2. This Act shall become effective upon signature by the governor or, if not
23 signed by the governor, upon expiration of the time for bills to become law without signature
24 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
25 vetoed by the governor and subsequently approved by the legislature, this Act shall become
26 effective on the day following such approval.
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 44
SLS 19RS-216 ORIGINAL
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Leonore Heavey.
DIGEST
SB 44 Original 2019 Regular Session Johns
Present law authorizes the Lake Charles Civic Center Authority to issue bonds secured by
and payable from the Lake Charles Civic Center Fund (the Fund).
Proposed law retains the authority to issue bonds payable from the Fund, but moves the
issuance authority from the Lake Charles Civic Center Authority to the city of Lake Charles.
Present law provides legislative approval for the issuance of bonds secured by and payable
from the Fund.
Proposed law clarifies that additional legislative approval otherwise required by R.S.
39:112(G) is not required for bonds issued that are payable from the Fund.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 47:322.11(B))
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.