Louisiana Revised Statutes 33:9038.59 – New Orleans City Park Taxing District
Terms Used In Louisiana Revised Statutes 33:9038.59
- Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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.
- Quorum: The number of legislators that must be present to do business.
A. Creation. The New Orleans City Park Taxing District, a special taxing district and political subdivision of the state, hereinafter referred to as the “district” is hereby created in the parish of Orleans.
B. Boundaries. The district shall be the same as the area known as New Orleans City Park.
C. Purpose. The district is created to provide for cooperative economic development between the city of New Orleans, the New Orleans City Park Improvement Association, and the district in order to provide for the renovation, restoration, and development of the property in the city of New Orleans which is known as New Orleans City Park.
D. Governance. (1) In order to provide for the orderly development of the district and effectuation of the purposes of the district, the district shall be administered and governed by a board of commissioners of four persons comprised as follows:
(a) The president of the city council of the city of New Orleans.
(b) The secretary of the Department of Culture, Recreation, and Tourism.
(c) The president of the board of commissioners of the New Orleans City Park Improvement Association.
(d) The chief executive officer of New Orleans City Park.
(2) A majority of the members of the board shall constitute a quorum for the transaction of business. The board shall keep minutes of all meetings and shall make them available for inspection through the board’s secretary. The minute books and archives of the district shall be maintained by the board’s secretary. The monies, funds, and accounts of the district shall be in the official custody of the board.
(3) The board shall adopt bylaws and prescribe rules to govern its meetings. The members of the board shall serve without salary or per diem and shall be entitled to reimbursement for reasonable, actual and necessary expenses incurred in the performance of their duties.
(4) The domicile of the board shall be established by the board at a location within the district.
(5) The board shall elect from its own members a president, vice-president, secretary and treasurer, whose duties shall be common to such offices or as may be provided by bylaws adopted by the district. At the option of the board or as provided in the bylaws, the offices of secretary and treasurer may be held by one person. The board shall hold regular meetings and may hold special meetings as provided in the bylaws. All such meetings shall be public meetings subject to the provisions of La. Rev. Stat. 42:11 et seq.
E. Rights and powers. The district, acting by and through its board of commissioners, shall have and exercise all powers of a political subdivision and special taxing district necessary or convenient for the carrying out of its objects and purposes including but not limited to the following:
(1) To sue and to be sued.
(2) To adopt bylaws and rules and regulations.
(3) To receive by gift, grant, donation or otherwise any sum of money, property, aid or assistance from the United States, the state, or any political subdivision thereof, or any person, firm, or corporation.
(4) For the public purposes of the district, to enter into contracts, agreements or cooperative endeavors with the state and its political subdivisions or political corporations and with any public or private association, corporation, business entity, or individual.
(5) To appoint officers, agents, and employees, prescribe their duties, and fix their compensation.
(6) To acquire by gift, grant, purchase, lease, or otherwise such property as may be necessary or desirable for carrying out the objectives and purposes of the district and to mortgage and sell such property.
(7) In its own name and on its own behalf, to incur debt and to issue bonds, notes, certificates and other evidences of indebtedness. For this purpose the district shall be deemed and considered to be an issuer for purposes of La. Rev. Stat. 33:9037 and shall, to the extent not in conflict with this Section, be subject to the provisions of La. Rev. Stat. 33:9037.
(8) To establish such funds or accounts as are necessary for the conduct of the affairs of the district.
F. Term. The district shall dissolve and cease to exist one year after the later of the date all bonds, notes, and other evidences of indebtedness of the district, including refunding bonds are paid in full as to both principal and interest or the date the district determines that any economic development special trust fund which may be created by the district shall no longer be funded; however, under no event shall the district have an existence of less than three years or more than thirty years.
G.(1) For purposes of implementing tax increment financing as provided for in this Part, the board shall have all authorities provided for in La. Rev. Stat. 33:9038.34 to implement sales tax increment financing, including in particular the provisions of La. Rev. Stat. 33:9038.34(O), except that the provisions of La. Rev. Stat. 33:9038.34(A)(6) shall not be applicable and instead Paragraph (2) of this Subsection shall control the process for the dedication of any state of Louisiana sales tax increments. However, any tax or portion of a tax which has been previously dedicated to another purpose according to a proposition approved by voters shall be used as such a tax increment only if approved by a majority of the voters of the taxing authority levying the tax voting on the proposition in an election held for such purpose.
(2) Subject to dedication by law, state of Louisiana sales tax increments may be dedicated to pay the revenue bonds of a local economic development project but shall not exceed the aggregate portion of the local sales tax increment dedicated for such purposes. Prior to the dedication of state sales tax increments to pay revenue bonds for a local economic development project, the commissioner of administration shall submit the proposed project to the Joint Legislative Committee on the Budget for approval. The submittal shall include a written evaluation and determination by the division of administration and certification by the Department of Revenue of the anticipated increase in state sales tax revenues to be collected within the state over state sales tax revenues that were collected within the state in the year immediately prior to the year in which the project is submitted to the committee that would be a direct result of the project. In determining whether to approve the dedication of state sales tax increments, the Joint Legislative Committee on the Budget shall take into account whether the city of New Orleans has agreed to the dedication of a portion of the city’s sales tax for a local economic project or projects in the district, including the length of time for any such dedication and the amount of any such dedication. In addition, subject to the provisions of La. Rev. Stat. 33:9029.2, any cooperative endeavor agreement or other agreement providing for the expenditure of funds collected by the state as state sales tax increments and dedicated to a project or for the payment of revenue bonds therefor shall be subject to approval by the State Bond Commission prior to execution by the state, except the provisions of La. Rev. Stat. 33:9029.2(A)(2) and (B) as to the submission of applications or filing of suits by the Department of Economic Development shall not apply. Any application to the State Bond Commission for such approval shall be submitted by the district. Any suit to determine the validity of any cooperative endeavor agreement prior to the execution thereof pursuant to the provisions of Part XVI of Chapter 32 of Title 13 of the Louisiana Revised Statutes of 1950 as though the agreement constituted the issuance of bonds of a governmental unit may be filed by the district.
(3) The board shall designate the boundaries of a sales tax area and shall designate the local sales taxes, which are to be used in determining the sales tax increments and the initial annual baseline collection rate for the sales tax area, which shall be the amount of such designated sales taxes collected in the sales tax area in the fiscal year of the district most recently completed prior to the establishment of the sales tax area. In addition, a monthly baseline collection rate shall be determined by dividing the initial annual baseline collection rate by twelve. The initial annual baseline collection rate and the monthly baseline collection rate shall be certified by the chief financial officer or equivalent of the district. The certification shall also be published one time in the official journal of the parish of Orleans. If the amounts of the initial annual baseline collection rate and the monthly baseline collection rate are not contested within thirty days after said publication, then such amounts shall be conclusively presumed to be valid, and no court shall have jurisdiction to alter or invalidate the designation of the amount of either the initial annual baseline collection rate or the monthly baseline collection rate.
H. The provisions of this Section shall not affect any school system or law enforcement agency for any purpose.
I. Liberal construction. This Section, being necessary for the welfare of the parish and its residents, shall be liberally construed to effect the purposes thereof.
Acts 2007, No. 266, §1; Acts 2012, No. 490, §1, eff. June 5, 2012.