RS 39:100.123: Construction Subfund Preservation Account

A. There is hereby established in the state treasury as an account within the Construction Subfund of the Transportation Trust Fund the Construction Subfund Preservation Account, hereafter referred to in this Section as the "Preservation Account". Monies appropriated or transferred to the Preservation Account shall be deposited by the state treasurer after compliance with the provisions of Article VII, Section 9(B) of the Constitution of Louisiana.

B. Monies in the Preservation Account shall be invested by the treasurer in the same manner as state general fund monies. Interest earned on monies in the Preservation Account shall be credited to the Preservation Account. Unexpended and unencumbered monies in the Preservation Account at the end of the fiscal year shall remain in the Preservation Account to which they are credited.

C. Monies in the Preservation Account shall be used by the Department of Transportation and Development solely for the direct costs associated with actual project delivery, construction, and maintenance of highway and bridge preservation projects approved by the Joint Legislative Committee on the Budget.