Louisiana Revised Statutes 34:3498 – Acquisition of sites; lease of state-owned lands and water bottoms
Terms Used In Louisiana Revised Statutes 34:3498
- 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. To enable the authority to perform the work herein provided, the state of Louisiana, acting by and through the commissioner of administration as register of state lands, is hereby authorized to grant to the authority a lease on state-owned lands and water bottoms which are requested by the authority as sites for terminal facilities if approved by the House and Senate committees on transportation, highways, and public works. The mineral rights on any and all state lands shall be reserved to the state of Louisiana.
B. The register of state lands shall lease the selected tracts to the authority for one dollar per acre per annum.
C. All such leases shall be for a term of not more than ninety-nine years, but the legislature may reevaluate the rental payments upward or downward to reflect changing economic conditions.
D. All proceeds arising from the transfer of such leases of state-owned lands and water bottoms shall be paid by the authority to the state treasurer and shall become part of the general fund of the state of Louisiana.
E. Nothing in this Chapter is intended to authorize the authority to lease state-owned lands and water bottoms for the exploration, development and production of oil, gas, sulphur, or authority of the State Mineral and Energy Board and Louisiana Wildlife and Fisheries Commission to lease for such purposes.
Acts 2008, No. 699, §1, eff. July 1, 2008; Acts 2009, No. 196, §3, eff. July 1, 2009.