RS 2:807 Allocation, reallocation of funds; deposit to transportation trust fund - Louisiana Statutes

§807.  Allocation, reallocation of funds; deposit to Transportation Trust Fund

A.  The Transportation Trust Fund shall be the source of state funds provided for any airport project on the priority list commenced pursuant to the provisions of this Chapter.  Prior to the commencement of any work, the department shall require the presiding officer or owner of each airport authority involved in a project to execute an agreement and statement of sponsorship which includes but is not limited to an agreement to assume all maintenance and operation and utility service costs for the project as may be required without cost to the state.

B.  Any monies allocated for any project not needed for said project may be reallocated for the completion of any other project or projects specified.  Any monies not needed for the completion of said projects shall be deposited in and credited to the Transportation Trust Fund, for reallocation to the Airport Construction and Development Priority Program.

Acts 1989, No. 451, §1, eff. June 30, 1989.