Louisiana § RS 3:322 - Rural Development Fund
Full text of Louisiana Louisiana Civil Code § RS 3:322 — Rural Development Fund, with citation guidance and answers to common questions.
§ RS 3:322. Rural Development Fund
A. Funds received by the office of rural development under this Chapter or otherwise made available for the purpose of this Chapter shall be deposited immediately upon receipt into the state treasury.
B. After compliance with the requirements of Article VII, Section 9(B) of the Constitution of Louisiana, relative to the Bond Security and Redemption Fund, and prior to monies being placed in the state general fund, an amount equal to that deposited as required in Subsection A of this Section and monies appropriated by the legislature shall be credited to a special fund hereby created in the state treasury to be known as the "Rural Development Fund". The monies in this fund shall be used solely as provided in Subsection C of this Section and only in the amounts appropriated by the legislature. All unexpended and unencumbered monies in this fund at the end of the fiscal year shall remain in the fund. The monies in this fund shall be invested by the state treasurer in the same manner as monies in the state general fund, and interest earned on the investment of these monies shall be credited to this fund, again following compliance with the requirements of Article VII, Section 9(B) of the Constitution of Louisiana, relative to the Bond Security and Redemption Fund.
C. The monies in the Rural Development Fund shall be used by the office of rural development solely to fund projects developed and coordinated jointly by the office of rural development and the Department of Transportation and Development in rural areas of this state and for the administration and implementation of the provisions of this Chapter.
D. The Rural Development Fund is hereby authorized to receive monies from the sale of general obligation bonds of the state issued pursuant to Article VII, Section 6 of the Constitution of Louisiana. Such proceeds are to be used for the constitutionally permissible purposes of making capital improvements, providing relief from natural catastrophes, or for the matching of federal funds received for such purposes.
Acts 2021, No. 331, §1.
Frequently Asked Questions About Louisiana § RS 3:322
What does Louisiana Civil Code § RS 3:322 cover?
Section RS 3:322 ("Rural Development Fund") is part of the Louisiana Civil Code, the codified statutory law of Louisiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Louisiana § RS 3:322?
A common citation format is "Louisiana Civil Code § RS 3:322" (Louisiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Louisiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Louisiana official source linked on this page or consult a licensed Louisiana attorney.
How does Louisiana § RS 3:322 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Louisiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Louisiana.