Judges: RICHARD P. IEYOUB
Filed Date: 4/7/1993
Status: Precedential
Modified Date: 7/5/2016
Dear Mr. Levell:
You requested the opinion of this office concerning the New Orleans Aviation Board ("NOAB"). You advised that NOAB is constructing improvements to the New Orleans International Airport ("NOIA"), which improvements are being funded from several sources, including the Transportation Infrastructure Model for Economic Development ("TIME") monies and the Passenger Facility Charge ("PFC"), codified at 49 U.S.C.A. 1513.
The question presented is whether NOAB can borrow for an approved period of time, TIME funds for its PFC projects in an amount that exceeds the statutory allocation for the TIME projects.
The Transportation Trust Fund ("TTF") was created by Article
Within the TTF, the TIME Account was created pursuant to R.S.
R.S.
Any monies allocated for any project as specified in Subparagraphs (B)(1)(a) and (b) of this Section not needed for such project may be reallocated for the completion of any other project or projects specified. Any monies not needed for the completion of such projects shall be used for purposes not inconsistent with the Transportation Trust Fund.
In other words, any monies not needed for a highway or bridge project may be reallocated for the completion of any other specified project, not necessarily a highway or bridge project, provided that the use is consistent with the Transportation Trust Fund. Thus it would appear that if there is a finding that there are excess monies not needed for a particular TIME highway or bridge project, those monies could be used by the NOIA. As the projects specified for highway and bridge purposes are allocated to the Department of Transportation and Development, the determination of whether there are any monies available to be used for another project should be made by DOTD. Of course, in the event a determination is made that there are monies available for use on another project, the project would have to be approved by the legislature in accordance with R.S.
NOIA contemplates that it would borrow approximately $36.5 million of excess TIME monies to be used for PFC construction projects at the NOPIA and it would repay the TIME Account from PFC revenue. While R.S.
Trusting this adequately responds to your inquiry, I remain,
Yours very truly,
RICHARD P. IEYOUB Attorney General
BY: MARTHA S. HESS Assistant Attorney General
RPI/MSH/jav 2900m