Louisiana Revised Statutes 34:3476 – Commencement of projects; substitutions
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Terms Used In Louisiana Revised Statutes 34:3476
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Office: means the office of multimodal commerce within the Department of Transportation and Development. See Louisiana Revised Statutes 34:3471
The projects planned for the year for which appropriations have been made or which have funding obligation authority shall be commenced in that year; however, if a project cannot be commenced within the year for which it is authorized, the commissioner of the office of multimodal commerce shall file with the project records a public statement as to the factors causing the delay. Projects which have been funded or which have obligation authority shall retain such funding or authority until the project is completed and the project costs are liquidated.
Acts 2017, No. 382, §1, eff. July 1, 2017.