WHEREAS, Act No. 10 and Act No. 20 of the 1999 Regular Session of the Legislature provided appropriations from the Fund;
WHEREAS, the governor has been notified by the commissioner of administration that the total appropriation from the Fund will exceed the official revenue forecast for the Fund by $14,150,691 and that a spending freeze is necessary to avoid a budget deficit;
WHEREAS, pursuant to the provisions of Article IV, Section 5 of the Louisiana Constitution of 1974, as amended, Act No. 10 and Act No. 20 of the 1999 Regular Session of the Legislature, and other provisions of law, the governor may issue executive orders which limit the expenditure of funds by the various agencies in the executive branch of state government upon notification that a projected deficit exists for a dedicated fund; and
WHEREAS, the interests of the citizens of the state of Louisiana are best served by implementing prudent money management practices in the form of a spending freeze in the Fund to achieve a savings in the Fund of at least $14,151,000 for the remainder of the 1999-2000 fiscal year to ensure that the state of Louisiana will not suffer a budget deficit in the Fund due to fiscal year 1999-2000 appropriations exceeding actual revenues of the Fund;
NOW THEREFORE, I, M.J. "MIKE" FOSTER, JR., Governor of the state of Louisiana, by virtue of the authority vested by the Constitution and laws of the state of Louisiana, do hereby order and direct as follows:
SECTION 1: The following departments, agencies and/or budget units of the executive branch of the state of Louisiana, as described in and/or funded by appropriations from the Fund through Act No. 10 and Act No. 20 of the 1999 Regular Session of the Legislature, shall reduce their expenditures from the Fund, in the amounts shown below:
SECTION 2: This Order is effective upon signature and shall continue in effect through June 30, 2000, unless amended, modified, terminated, or rescinded by the governor, or terminated by operation of law.
IN WITNESS WHEREOF, I have set my hand officially and caused to be affixed the Great Seal of Louisiana, at the Capitol, in the city of Baton Rouge, on this 31st day of March, 2000.
M.J. "Mike" Foster, Jr.
Secretary of State