Louisiana Revised Statutes 33:9576 – Calcasieu Parish Gaming Revenue District
Terms Used In Louisiana Revised Statutes 33:9576
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
A. The conduct of gaming is a matter of interest to the voters within the incorporated and unincorporated areas of Calcasieu Parish hereinafter, the “parish”, as voters of the entire parish must approve the conduct of gaming within the parish. The laws of this state provide that riverboat gaming revenues are paid to either the governing body of the parish or the municipality depending upon where the riverboat is located. Accordingly, voters of all municipalities and the unincorporated areas of the parish are eligible to approve riverboat gaming operations; however, under the provisions of La. Rev. Stat. 27:93(A) and 391(C), all municipalities do not share in the revenues derived from riverboat gaming unless a gaming district is established in accordance with the provisions of this Section. Accordingly, in order to promote and provide for the general welfare and harmony of all persons residing within the boundaries of Calcasieu Parish, the municipalities which receive revenues derived from riverboat gaming are hereby authorized to transfer and assign the authority to levy and collect those fees, assessments, and taxes levied under the provisions of La. Rev. Stat. 27:93(A) and 391(C) to a district established in accordance with the provisions of this Section. It is also the intent of this legislation to authorize the gaming district to provide for and promote the diversification and expansion of the economy of all areas of the parish of Calcasieu by authorizing the allocation and distribution of certain gaming revenues to various political subdivisions within the parish and by authorizing the incurring of debt and issuance of bonds. The Legislature of Louisiana hereby determines that such allocation and distribution and such incurring of debt and issuance of bonds will aid in economic development and is a valid legal obligation of the parish and the municipalities within the parish. Accordingly, it is hereby determined that authorizing the creation of the Calcasieu Parish Gaming Revenue District and the carrying out of the public purposes of the district is in all respects a public and governmental purpose exercised by the political subdivisions of the parish in furtherance of the public policies of this state.
B. The parish of Calcasieu, the city of Lake Charles, the town of Westlake, the town of Vinton, the city of Sulphur, the city of DeQuincy, and the town of Iowa are hereby authorized to enter into a cooperative endeavor, or joint services agreement as provided for in this Section for the establishment of a district, to be known as the Calcasieu Parish Gaming Revenue District hereinafter, the “district”, as a special taxing district with boundaries coterminous with the boundaries of the parish of Calcasieu and which shall be a body politic and corporate and a political subdivision of the state. The district shall be established for the purpose of levying, collecting, and distributing the fees and assessments levied in accordance with the terms and conditions of the written contracts executed between the local governing authorities of Calcasieu Parish and the riverboat licensees pursuant to the provisions of La. Rev. Stat. 27:93(A) and the tax on the proceeds from the slot machines at the racetrack which are levied in said parish pursuant to the provisions of La. Rev. Stat. 27:391(C). The district shall have the further purpose of incurring debt and issuing bonds for the purposes as provided in this Section.
C. The cooperative endeavor or joint services agreement shall provide for all of the following:
(1) The terms, powers, and duties of the board, in accordance with the provisions of La. Rev. Stat. 33:1332. Notwithstanding any other provision of law to the contrary, members of the board may include elected officials who represent any of the parties to the agreement.
(2) The administrative and operational procedures, rules, and regulations of the district not to be provided by the board.
(3) The manner in which the expenses of the district shall be paid.
(4)(a) The formula by which revenue collected by the district shall be distributed to the entities participating in the district.
(b)(i) The governing authority of the parish of Calcasieu shall annually prepare a report no later than February first which shall include the total amount of gaming revenues received by the parish from the district during the previous calendar year. The report prepared in 2009 shall include information required by this Item for each calendar year from 2005 through 2008. The report shall be distributed to the members of the legislative delegation no later than February fifteenth of each year. The report shall also include the following:
(aa) The total amount of gaming revenues distributed by the governing authority of the parish to the governing authorities of the municipalities of Sulphur, Vinton, Iowa, and DeQuincy during the previous calendar year.
(bb) The total amount of gaming revenues expended by the parish in the unincorporated areas of the parish during the previous calendar year for the following purposes: water, drainage, and sewerage. The report shall include the actual dollar amount and actual percentage of total gaming revenues expended by project in the unincorporated areas of the parish for such purposes.
(cc) The cumulative total amount of gaming revenues received by the parish from the district and not expended or distributed by the governing authority of the parish.
(ii) The governing authority of the city of Lake Charles shall annually prepare a report no later than February first which shall include the total amount of gaming revenues received by the city during the previous fiscal year. The report prepared in 2009 shall include information required by this Item for each fiscal year from 2005-2006 through 2007-2008. The report shall be distributed to the members of the legislative delegation no later than February fifteenth of each year. The report shall also include the following:
(aa) The total amount of gaming revenues expended by the governing authority of the city within the city limits for the following purposes: water, drainage, and sewerage. The report shall include the actual dollar amount and actual percentage of total gaming revenues expended by project by the governing authority of the city within the city limits for such purposes.
(bb) The cumulative total amount of gaming revenues received by the city from the district and not expended or distributed by the governing authority of the city.
(5) The creation of an Economic Response Fund to be used for economic development purposes as determined by the board, including but not limited to developing economic incentive packages for potential new businesses in the parish or funding new business parks to be used to solicit new businesses in the parish.
(6) Providing for the collection, administration, distribution, allocation, and utilization of revenues generated from riverboats and racetracks in the parish in accordance with the provisions of La. Rev. Stat. 27:93(A) and 391(C).
(7) The incurring of debt and issuing of bonds as provided in this Section.
D. Rights and powers. The district as a body corporate and politic and a political subdivision of the state through the board shall have the following rights and powers:
(1) To adopt an official seal and alter the same at its pleasure.
(2) To sue and be sued.
(3) To make and execute any contract, corporate endeavor agreement, or other instrument necessary in the exercise of the powers, duties, and functions of the district.
(4) To contract with the state for the collection of any taxes authorized.
(5) In its own name and behalf, to borrow money and to incur debt for any one or more of its lawful purposes, to issue in its name negotiable bonds, notes, certificates of indebtedness, or other evidences of debt and to provide for the security and payment thereof, all as provided in Subsection E of this Section.
(6) To exercise any and all other powers necessary to accomplish the purposes of the district.
E. Bonds. (1) In addition to all authority of the district as provided in this Section or granted by other law, the district may incur debt and issue revenue bonds to be secured by the fees, assessments, taxes, or any revenues collected by the district for the purposes of the district or for constructing roads, sewer, water, or drainage facilities, as well as for any other public purpose, including but not limited to public health care or economic development through industrial development, commerce, or research.
(2) Revenue bonds of the district shall be issued in the manner as provided in Part XII or Part XIII of Chapter 4 of Subtitle II of Title 39 of the Louisiana Revised Statutes of 1950 or any other applicable law. Revenue bonds issued under this Section shall be authorized by resolution of the district and shall be limited obligations of the district, the principal of and interest on which shall be payable solely from the revenues as provided in Paragraph (1) of this Subsection or from income and revenue derived from the sale, lease, or other disposition of the project or facility to be financed by the bonds, from the income and revenue derived from the sale, lease, or other disposition of any existing project or facility acquired, constructed, and improved under the provisions of this Section, or from any other income or revenue derived from any project or facility so financed or any such existing project or facility. However, in the discretion of the district, the bonds may be additionally secured by mortgage or other security device covering all or part of the project from which the revenues so pledged may be derived. Any refunding bonds issued pursuant to this Subsection shall be payable from any source described above or from the investment of any of the proceeds of the refunding bonds authorized under this Section and shall not constitute an indebtedness or pledge of the general credit of the district within the meaning of any constitutional or statutory limitation of indebtedness and shall contain a recital to that effect. Bonds of the district shall be issued in such form, shall be in such denominations, shall bear interest, shall mature in such manner, and shall be executed as provided in the resolution authorizing the issuance thereof. The bonds may be subject to redemption at the option of and in the manner determined by the board in the resolution authorizing the issuance thereof.
(3) The district may in its own name and behalf borrow from time to time in the form of certificates of indebtedness. The certificates shall be secured by the dedication and pledge of monies of the district derived from any lawful sources, including those revenues as provided in Paragraph (1) of this Subsection and any other sources of income or revenue of the district, or any combination of such sources, provided that the term of such certificates shall not exceed ten years and the annual debt service on the amount borrowed shall not exceed the anticipated revenues to be dedicated and pledged to the payment of the certificates of indebtedness, as shall be estimated by the board of the district at the time of the adoption of the resolution authorizing the issuance of such certificates. The estimate of the board referred to in the authorizing resolution shall be conclusive for all purposes of this Section.
(4) Bonds, certificates, or other evidences of indebtedness issued by the district pursuant to this Section are deemed to be securities of public entities within the meaning of Chapters 13 and 13-A of Title 39 of the Louisiana Revised Statutes of 1950, and shall be subject to defeasance in accordance with the provisions of Chapter 14 of Title 39 of the Louisiana Revised Statutes of 1950, and may be refunded in accordance with the provisions of Chapters 14-A and 15 of Title 39 of the Louisiana Revised Statutes of 1950, and may also be issued as short-term revenue notes of a public entity under Chapter 15-A of Title 39 of the Louisiana Revised Statutes of 1950.
(5) The issuance and sale of bonds, certificates of indebtedness, notes, or other evidence of debt by the district shall be subject to approval by the State Bond Commission.
(6) Bonds and any other evidences of indebtedness of the district shall be issued, sold, and delivered in accordance with the terms and provisions of a resolution adopted by the board. For a period of thirty days from the date of publication of any resolution or ordinance authorizing the issuance of any bonds, certificates of indebtedness, notes, or other evidence of debt of the district, any interested person may contest the legality of such resolution or ordinance and the validity of such bonds, certificates of indebtedness, notes, or other evidence of debt issued or proposed to be issued thereunder and the security of their payment, after which time no one shall have any cause of action to contest the legality of said resolution or ordinance or to draw in question the legality of said bonds, certificates of indebtedness, notes, or other evidence of debt, the security therefor, or the debts represented thereby for any cause whatever, and it shall be conclusively presumed that every legal requirement has been complied with, and no court shall have authority to inquire into such matters after the lapse of thirty days.
(7) No bonds, other debt obligations, or contracts of the district shall be a charge upon the income, property, or revenue of the parish of Calcasieu nor of any of the municipalities designated in Subsection B of this Section, nor shall any obligations of the district be obligations of the parish or any of such municipalities.
(8) Such bonds, certificates of indebtedness, notes, or other evidence of debt shall have all the qualities of negotiable instruments under the commercial laws of the state of Louisiana.
Acts 2005, No. 242, §2; Acts 2006, No. 225, §1, eff. July 1, 2006; Acts 2008, No. 889, §1, eff. July 9, 2008.