Louisiana Revised Statutes 48:1603 – Creation, domicile and purpose
Terms Used In Louisiana Revised Statutes 48:1603
- Contract: A legal written agreement that becomes binding when signed.
- 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. There is hereby created the River Parishes Transit Authority, subject to the conditions hereinafter set forth, which shall be a body politic and corporate and a political subdivision of the state comprising all of the territory in the parishes of St. Charles, St. James, and St. John the Baptist. The domicile of the authority must be situated within one of the above named parishes, and the authority shall so designate, promulgate, and file such designation in accordance with law.
B. The purpose for which the authority is created is to plan, design, lease (as lessee), purchase, acquire, hold, own, construct, improve, have an equity in, finance, maintain, and administer a transit system within the area, to operate same or contract therefor, and to lease (as lessor) same for operation by private parties.
Added by Acts 1976, No. 638, §1; Acts 1999, No. 1371, §1.