La. R.S. 47:302.18 — Disposition of certain collections in Lafayette Parish

A. The avails of the tax imposed by this Chapter for the sale of services as defined
by R.S. 47:301.3(1) in Lafayette Parish under the provisions of R.S. 47:302(C) 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 the "Lafayette Parish Visitor Enterprise Fund".
B. The monies in that fund deposited pursuant to this Section shall be subject to
annual appropriation by the legislature and shall be allocated equally for capital
improvements for Lafayette Central Park, Inc. and planning, development, and capital
improvements at or adjacent to the Cajundome as appropriated by the legislature. For the
purposes of this Section, "capital improvements" shall mean expenditures for acquiring
lands, buildings, equipment, or other permanent properties, or for their construction,
preservation, development, or permanent improvement, or for payment of principal, interest,
or premium, if any, and other obligations incident to the issuance, security, and payment of
bonds or other evidences of indebtedness associated therewith.