§4683. Apportioning costs; expenses; budget; gifts and contributions; custody of funds; financial statement; surplus funds

A. The cost of equipping, maintaining, and all other costs of the coliseum authority shall be borne by the entire parish, including the incorporated towns therein, and all taxes levied and assessed, whether general or special, for the establishment, support and maintenance of such coliseum or other facility shall be borne proportionally by all of the property of the parish, including that within the incorporated municipalities.

B. The expenses or costs of the maintenance and operation of the coliseum or other facilities of the authority, including the salaries of the manager and all other employees, as well as all other incidental expenses, shall be paid monthly by the governing body of the parish upon the approval of such expenses and maintenance costs by the board of commissioners of the coliseum authority and by the governing body of the parish, out of the funds specially budgeted for the coliseum authority, and in default thereof, out of the special taxes voted, levied and collected by the governing body of the parish for the coliseum authority's support and maintenance.

C. The board of commissioners of the coliseum authority shall prepare its budget annually, which shall be submitted to the parish governing body for its approval, and no moneys not budgeted and approved shall be paid by the board of commissioners without the prior approval of the parish governing body.

D. The board of commissioners may receive and accept unconditional gifts, donations and contributions from individuals and corporations, but no gifts or donations conditionally made shall be accepted without the approval of the parish governing body.

E. All moneys, property and other things of value given or contributed through the commissioners shall be turned over to the treasurer of the commission and shall be expended or invested by the chairman of the commission with the approval of the said commissioners and the parish governing body.

F. All moneys received by the commissioners from rental of said coliseum, concessions, and from any other source other than donations, shall be turned over to the parish governing body.

G. At the end of each fiscal year, a complete financial statement shall be rendered by the board of commissioners to the parish governing body; at the end of each third fiscal year fifty percent of any surplus existing at the end of said third fiscal year shall be turned over to the parish governing body to be paid into a fund for the maintenance, operation and capital improvements of said coliseum.

Acts 1972, No. 440, §3.