RS 4710.16 - Use of revenues
Prior to the issuance of bonds pursuant to this Chapter, any revenue of the authority derived from any source whatsoever may be used by the authority for the payment of the administrative and operating expenses of the board and for the payment of any expenses incurred in determining the feasibility of a project or projects and developing plans therefor, including engineering, architectural, legal, and administrative costs and fees incidental thereto. Any revenue of the authority remaining at the end of each fiscal year prior to the issuance of bonds and after the payment of such expenses shall be considered surplus and may, in the sole discretion of the authority, be distributed by the authority to the city of New Orleans or retained by authority for utilization on future expenses, capital expenditures, or costs reasonably anticipated to be incurred.
Acts 2019, No. 172, §1.