RS 47:332.3: Disposition of certain collections in Vernon Parish

The avails of the tax imposed by R.S. 47:331 from the sales of services as defined in R.S. 47:301.3(1) in the parish of Vernon under the provisions of R.S. 47:331(C) and 332, as applicable, 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 "Vernon Parish Legislative Community Improvement Fund" as provided in R.S. 47:302.5 and the distribution and use of such money shall be subject to the provisions of that Section.