2019 Regular Session ENROLLED
SENATE BILL NO. 44
BY SENATOR JOHNS
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
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
18 by the treasurer in the same manner as the monies in the general fund, and all interest
19 earned shall be deposited into the state general fund.
20 (2) The city of Lake Charles Civic Center Authority may issue bonds
21 payable from a pledge and dedication of the amounts amount of proceeds of the tax
22 in the Lake Charles Civic Center Fund. However, prior to the issuance of such
23 bonds, the city of Lake Charles Civic Center Authority shall obtain the approval of
24 a majority of the members of the governing authority of Calcasieu Parish, and the
25 approval, given by majority vote, of each other governing authority which appoints
26 members to the Lake Charles Civic Center Authority.
ACT No. 27
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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 ENROLLED
1 (3) Whenever such bonds are issued, the legislature shall annually
2 appropriate, to the extent of deposits in the fund, monies sufficient to pay the
3 principal, interest, and premium, if any, due on the bonds each year. If the
4 legislature, after a diligent and good faith effort, fails to appropriate sufficient
5 monies to pay the principal, interest, and premium, if any, due on the bonds each
6 year, or if such appropriation cannot be effected, the state shall in no way be a party
7 to any contractual rights arising from the bonds issued, nor shall the state be in any
8 way obligated for any payments due to holders of the bonds issued under the
9 provisions of this Section.
10 (4) Bonds issued pursuant to this Subsection shall not be subject to the
11 provisions of R.S. 39:112(G).
12 * * *
13 Section 2. This Act shall become effective upon signature by the governor or, if not
14 signed by the governor, upon expiration of the time for bills to become law without signature
15 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
16 vetoed by the governor and subsequently approved by the legislature, this Act shall become
17 effective on the day following such approval.
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.