The proceeds of any special tax shall constitute a trust fund to be used exclusively for the objects and purposes for which the tax was levied. The records of the taxing authority shall clearly reflect the objects and purposes for which the proceeds of the tax are used.
La. R.S. 39:704
Proceeds of special tax
Known as the Public Entity Facilities Financing Act
The act spans §§ 39–39 (161 sections).
Acts 1986, No. 687, §1.
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.