Program Authorization: Article VI-A, Sections 1,6 of the 1921 State Constitution; Attorney General's Opinion #76-796
The Port of New Orleans receives from gasoline tax proceeds an amount sufficient to pay the principal and interest on all of its outstanding bonds maturing during the fiscal year. The dedication continues until all bonds are retired in the year 2001.
RESOURCE ALLOCATION FOR THE PROGRAM
This agency's recommended appropriation does not include any funds for short-term debt.
This agency's recommended appropriation includes $500,000 for long-term debt for Fiscal Year 1998-1999.
SOURCE OF FUNDING
The source of funding for this program is statutory dedicated gasoline tax revenue. (Per R.S. 39:32B.(8), see table below for a listing of expenditures out of each statutory dedicated fund.)
ANALYSIS OF RECOMMENDATION
The total means of financing for this program is recommended at 100.0% of the existing operating budget. It represents 100.0% of the total request ($500,000) for this program. The recommended funding level reflects the official Fiscal Year 1999 projection approved by the Louisiana Revenue Estimating Conference at its February 18, 1998 meeting.
ACQUISITIONS AND MAJOR REPAIRS
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