2006 Louisiana Laws - RS 3:446.6 — Agricultural products processing development fund

§446.6.  Agricultural Products Processing Development Fund

A.  Funds received by the commission under this Part or otherwise made available for the purpose of this Part shall be deposited immediately upon receipt into the state treasury.

B.  After compliance with the requirements of Article VII, Section 9(B) of the Constitution of Louisiana relative to the Bond Security and Redemption Fund, and prior to moneys being placed in the state general fund, an amount equal to that deposited as required in Subsection A hereof and moneys appropriated by the legislature shall be credited to a special fund hereby created in the state treasury to be known as the "Agricultural Products Processing Development Fund".  The moneys in this fund shall be used solely as provided in Subsection C hereof and only in the amounts appropriated by the legislature.  All unexpended and unencumbered moneys in this fund at the end of the fiscal year shall remain in the fund.  The moneys in this fund shall be invested by the state treasurer in the same manner as moneys in the state general fund, and interest earned on the investment of these moneys shall be credited to this fund again, following compliance with the requirement of Article VII, Section 9(B) relative to the Bond Security and Redemption Fund.

C.  The moneys in the Agricultural Products Processing Development Fund shall be used by the commission solely to implement, administer, and make loans and loan guarantees under this Part.

Acts 1986, No. 918, §1, eff. July 10, 1986.