Louisiana Revised Statutes 34:326 – Acquisition of lands; public aid
Terms Used In Louisiana Revised Statutes 34:326
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
A. The board is authorized to acquire by purchase, donation, expropriation, or otherwise, including expropriation in accordance with La. Rev. Stat. 19:141, any lands in the district needed for railways, wharves, sheds, buildings, canals, channels, and other facilities required for the operation of the board and to be owned and operated by the board. The board also has the authority to lease any such lands in the district to others for manufacturing, commercial, and business purposes to promote the industrial development of the district. The board may also provide that payment for such lands be made out of the funds under its control not otherwise specifically appropriated.
B. The board is further authorized to receive by gift, grant, donation, or otherwise, any sum of money, aid, or assistance from the United States, the state of Louisiana, or any of the political subdivisions thereof, for the purpose of carrying out the objects and purposes of this Part.
Acts 1952, No. 530, §6; Acts 1999, No. 1152, §1.