NOTE: §68.6 eff. upon adoption of a const. amend. which authorizes the St. George Community School System. See Acts 2025, No. 455.

§68.6. Payments to East Baton Rouge Parish Educational Facilities Improvement District

            A. No later than June 1, 2027, the East Baton Rouge Parish Educational Facilities Improvement District shall provide to the St. George Community School Board a schedule of values for any construction completed within the boundaries of the St. George Community School System with the proceeds of Qualified School Construction Bonds issued prior to the effective date of this Act, an accounting of payments made and to be made through the effective date of this Act, on the construction bonds, and a payment schedule showing the unpaid principal and interest due for the construction projects.

            B. Beginning on July 1, 2027, the St. George Community School System shall reimburse East Baton Rouge Parish Educational Facilities Improvement District an amount equal to the percentage of the debt service paid in the preceding fiscal year attributable to the construction completed within the boundaries of the St. George Community School District. The reimbursement shall be made to East Baton Rouge Parish Educational Facilities Improvement District within thirty days of receipt by the St. George Community School District of payment confirmation for the debt service attributable to construction completed within the boundaries of the St. George Community School System.

            Acts 2025, No. 455, §1, eff. See Act.