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A.  Creation.  There is hereby created in the city of Baton Rouge, parish of East Baton Rouge, hereinafter referred to as the “city-parish”, the River Park Development District, a body politic and corporate of the state, referred to in this Section as the “district”.  The district shall be a political subdivision of the state and the district is hereby granted all of the rights, powers, privileges and immunities accorded by law and the Constitution of Louisiana to political subdivisions of the state, subject to the limitations provided in this Section.

B.  Boundaries.  The district shall be comprised of the following described parcels or tracts of land located in the city-parish, referred to in this Section as the “property”:

That certain tract or parcel of land containing 59.666 acres and comprised of three (3) contiguous tracts of land situated in Sections 40, 42 and 44, Township 7 South, Range 1 West, Greensburg District of Louisiana, Parish of East Baton Rouge, State of Louisiana, fronting on the Mississippi River, being more particularly described as follows:

TRACT I:  That certain tract or parcel of land and all the rights, ways, privileges, servitudes, advantages and appurtenances hereto belonging or in anywise appertaining, including all accretion, alluvion, batture and sandbars, resulting from reliction or dereliction, the opening of new channels or the changes of water courses of the Mississippi River, situated in Section 42 and 44, Township 7 South, Range 1 West, Greensburg District of Louisiana, Parish of East Baton Rouge, State of Louisiana, fronting on the Mississippi River, being more particularly described as follows:

Commencing at the intersection of the common boundary between Sections 42 and 44, T7S-R1W, East Baton Rouge Parish, and the western boundary of the Illinois Central Right of Way; thence proceed North 6º 45′ 0″ East a distance of 251.25′ to the POINT OF BEGINNING; thence proceed South 87° 50′ 0″ West a distance of 742.50 feet to the mean low water line of the Mississippi River; thence proceed North 01° 18′ 11″ West along the mean low water line of the Mississippi River to the Northern boundary of the property; thence proceed North 87° 50′ 0″ East a distance of 812.87 feet to a point and corner; thence proceed South 6° 45’0″ West a distance of 502.25 feet to the POINT OF BEGINNING.  All as more particularly shown on a survey entitled “Map Showing an As-Built Survey of Tract B-1, an 8.9 ± Acre Tract, & a 9.290 Acre Tract Located in Section 42 & 44 T-7-S R-1-W Greensburg Land District East Baton Rouge Parish Louisiana for Louisiana Casino Cruises, Inc.” dated April 11, 2001 and made by Chenevert Songy Rodi Soderberg, Inc.

TRACT II: Tract B-1, Hunnington Heights, containing 5.176 acres, located in Section 42, Township 7 South, Range 1 West, GLD, East Baton Rouge Parish, Louisiana, more particularly described and having such measurements as dimensions and being subject to such servitudes as are shown on the map entitled “Map Showing Resubdivision of Tract ‘A’ & Tract ‘B’ into Tract ‘A-1’ & Tract ‘B-1’, Hunnington Heights, located in Section 42, Township 7 South, Range 1 West, GLD, East Baton Rouge Parish, Louisiana”, prepared by Tatum Engineering Consultants, dated September 15, 1998.

TRACT III: That certain lot or parcel of ground together with all building and improvements located thereon, and all of the rights, ways, privileges, servitudes, prescriptions, appurtenances and advantages thereunto belonging, or in anywise appertaining, containing 36.3 acres more or less, located in Sections 40 and 42 Township 7-S, Range 1-W Greensburg Land District, East Baton Rouge Parish, Louisiana and being more particularly described as follows:  Commence at the intersection of the Section 40 and 42 section line and the western boundary of the Illinois Central Rail Road Right of Way; thence proceed N06°45’00″E a distance of 543.9′ to a point and corner; thence proceed N07°33’30″W a distance of 595.90′ to a point and corner; thence proceed S88°00’00″W a distance of 938.80′ to the low water line of the Mississippi River to a point and corner; thence meander the low water line of the Mississippi River southerly to a point which is S00°52’52″W a distance of approximately 1846.40′ for a point and corner; thence proceed N87°50’01″E a distance of 177.77′ to a point and corner; thence proceed N02°10’00″W a distance of 370.00′ to a point and corner; thence proceed S82°12’42″E a distance of 768.77′ to a point and corner; thence proceed N06°45’00″E a distance of 479.16′ to the point of beginning.  All as more particularly shown on a Map Showing Resubdivision of Tract “A-1 into Tracts “A-1-A” and A-1-B” Located in Section 40 and 42, T-7-S, R-1-W, Greensburg Land District, East Baton Rouge Parish Louisiana for River Park Development, LLC and River Yaun, LLC, dated January 3, 2008, made by Pyburn & Odom MCA, Karam J. Thomas, P.L.S.

C.  Purpose.  The district is created to provide for cooperative economic and community development among the district, the city-parish, the state and the owners of property in the district, in order to assist in the redevelopment of, and dramatic improvement to, the property within the area of the district.

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, referred to in this Section as the “board”, comprised as follows:

(a)  The mayor-president of the city-parish shall appoint two persons, subject to the concurrence of a majority of the city-parish council then present and then voting.

(b)  The member of the Louisiana House of Representatives whose district encompasses all or the greater portion of the area of the district shall appoint one person.

(c)  The member of the Louisiana Senate whose district encompasses all or the greater portion of the area of the district shall appoint one person.

(d)  The executive director of the Downtown Development District or his designee.

(2)  Each member appointed to the board shall be a citizen of the United States.  At all times, at least one member of the board shall own property within the district or be the representative of a private entity that owns property within the district.

(3)(a)  Members of the board serving pursuant to Subparagraphs (1)(a) through (c) of this Subsection shall serve terms of five years after the initial terms as provided in Subparagraph (b) of this Paragraph.

(b)  One member shall serve a term that shall expire on December 31, 2011; one member shall serve a term that shall expire on December 31, 2012; one member shall serve a term that shall expire on December 31, 2013; and one member shall serve a term that shall expire on December 31, 2014 as determined by lot at the first meeting of the board.

(c)  The executive director of the Downtown Development District shall serve during his term of office.  Any designee of the director shall serve at the pleasure of the director.

(4)  Upon expiration of the term of any member of the board, such member shall continue to serve until reappointed or a successor is duly appointed.  Any vacancy in the membership of the board, occurring either by reason of death, resignation, or otherwise, shall be filled in the manner of the original appointment.  If such appointment to fill a vacancy does not take place within sixty days, the board shall appoint an interim successor to serve until the position is filled by the appointing entity.

(5)  Any member of the board may be removed by a three-fourths vote of the remaining membership of the board for cause, which cause may include failure to attend at least one-half of the meetings of the board in a calendar year.

(6)  The members of the board shall serve without salary or per diem.  The board may reimburse any member for reasonable, actual and necessary expenses incurred in the performance of his duties pursuant to this Section.

(7)  The board shall elect from its members a president, a vice president, a secretary, and a treasurer, whose duties shall be those common to such offices.  At the option of the board, the offices of secretary and treasurer may be held by one person.

(8)  The board shall meet in regular session once each month and shall also meet in special session as often as the president of the board convenes the board or upon the written request of three members.  A majority of the members of the board of commissioners shall constitute a quorum for the transaction of business.  All such meetings shall be public meetings subject to the provisions of La. Rev. Stat. 42:11 et seq.  The board shall keep minutes of all meetings and shall make them available for inspection through the board’s secretary or secretary-treasurer, who shall also maintain the minute books and archives of the district.  The monies, funds, and accounts of the district shall be in the official custody of the board.

(9)  The domicile of the board shall be established by the board at a location within the district.  The official journal of the district shall be the official journal of the city-parish.

E.  Rights and powers.  The district, acting by and through its board, shall have and exercise all powers of a political subdivision 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, use, and alter at will a corporate seal.

(3)  To acquire by gift, grant, purchase, or otherwise all property, including rights of way; to hold and use any franchise or property, real, personal, or mixed, tangible or intangible, or any interest therein, necessary or desirable for carrying out the objects and purposes of the district, including but not limited to the establishment, maintenance, and operation of industrial parks, ports, harbors, and terminals.

(4)  To enter into contracts for the purchase, acquisition, construction, and improvement of works and facilities necessary in connection with the purposes of the district.

(5)  In its own name and on its own behalf to incur debt and to issue revenue bonds, special assessment bonds, certificates, notes, and other evidences of indebtedness and to levy and cause to be collected certain taxes as provided in this Section and as may be provided by general law.

(6)  To regulate the imposition of fees and rentals charged by the district for its facilities and services rendered by it.

(7)  To borrow money and pledge all or part of its revenues, leases, rents, or other advantages as security for such loans.

(8)  To appoint officers, agents, and employees, prescribe their duties, and fix their compensation.

(9)  To exercise any and all of the powers granted to an economic development district as if the district were an economic development district established pursuant to Part II of Chapter 27 of Title 33 of the Louisiana Revised Statutes of 1950, including but not limited to the powers of tax increment financing pursuant to La. Rev. Stat. 33:9038.33 and 33:9038.34 and the power to levy taxes within the district pursuant to La. Rev. Stat. 33:9038.39, provided that any such powers exercised by the district shall be subject to the provisions of Part II of Chapter 27 of Title 33 of the Louisiana Revised Statutes of 1950.

(10)  To exercise any and all of the powers granted to a community development district as if the district were a community development district established pursuant to Chapter 27-B of Title 33 of the Louisiana Revised Statutes of 1950, including but not limited to the power to levy special assessments on property within the district pursuant to La. Rev. Stat. 33:9039.29, provided that any such powers exercised by the district shall be subject to the provisions of Chapter 27-B of Title 33 of the Louisiana Revised Statutes of 1950.

F.  Levy of taxes.  (1)  It is expressly provided that any taxes levied by the district, or any subdistrict created by the district, may exceed the limitation set forth by La. Const. Art. VI, § 29(A) and shall be imposed, collected and enforced subject to the terms of the resolution imposing the tax and the provisions of Chapter 2 of Subtitle II of Title 47 of the Louisiana Revised Statutes of 1950.

(2)  Any taxes or assessments of any type to be levied by the district, or any subdistrict created by the district, shall be levied only after the board has adopted an appropriate resolution giving notice of its intention to levy such taxes or assessments, which resolution shall include a general description of the taxes or assessments to be levied, and notice of this intention shall be published once a week for two weeks in the official journal of the district, the first publication to appear at least fourteen days before the public meeting of the board at which the board will meet in open and public session to hear any objections to the proposed taxes or assessments.  The notice of intent so published shall state the date, time, and place of the public hearing.  Such taxes or assessments may be levied only after the board has called a special election submitting the proposition for the levy of such taxes or assessments to the qualified electors of the district or subdistrict, as applicable, and the proposition has received the favorable vote of a majority of the electors voting in the election; however, in the event there are no qualified electors in the district or subdistrict, as applicable, as certified by the registrar of voters, no such election shall be required.  The powers and rights conferred by this Section shall be in addition to the powers and rights conferred by any other general or special law.  This Section does and shall be construed to provide a complete and additional method for the levy of any taxes or assessments.  No election, proceeding, notice, or approval shall be required for the levy of such taxes or assessments except as provided herein.

(3)  In the event that a tax under this Section is proposed for the district or for a subdistrict where there are no qualified electors, such tax shall not become effective unless and until it is approved by the city-parish council.

G.  Creation of subdistricts.  The district may create subdistricts as provided in this Section.  The district shall publish notice of its intent to create a subdistrict in the official journal of the district.  At least ten days after publication of such notice in the official journal of the district, the board shall conduct a public hearing on the question of creating such subdistrict.  Thereafter, the board may designate one or more areas within the boundaries of the district as a subdistrict of the district.  Each subdistrict shall constitute a political subdivision of the state and shall be governed by the board.  Each subdistrict shall have the same powers as the district and shall be given a name and designated as “River Park Development District Subdistrict No.” or such other suitable name as the board may designate.

H.  Bonds of the district.  (1)  The district, or any subdistrict created by the district, is hereby authorized and empowered to issue and sell from time to time bonds, notes, renewal notes, refunding bonds, interim certificates, certificates of indebtedness, certificates of participation, debentures, warrants, commercial paper, or other obligations or evidences of indebtedness to provide funds for and to fulfill and achieve its public purpose or corporate purposes, as set forth in this Section, including but not limited to the payment of all or a portion of the costs of a project, to provide amounts necessary for any corporate purposes, including necessary and incidental expenses in connection with the issuance of the obligations, the payment of principal and interest on the obligations of the district, the establishment of reserves to secure such obligations, and all other purposes and expenditures of the district incident to and necessary or convenient to carry out its public functions or corporate purposes, and any credit enhancement for said obligations.

(2)  Except as may otherwise be provided by the board, all obligations issued by the district, or any subdistrict created by the district, shall be negotiable instruments and payable solely from the revenues of the district or subdistrict, as applicable, as determined by the board, or from any other sources whatsoever, that may be available to the district or subdistrict, as applicable, but shall not be secured by the full faith and credit of the state or the city-parish.

(3)  Obligations shall be authorized, issued, and sold by a resolution or resolutions of the board.  Such bonds or obligations may be of such series, bear such date or dates, mature at such time or times, bear interest at such rate or rates, including variable, adjustable, or zero interest rates, be payable at such time or times, be in such denominations, be sold at such price or prices, at public or private negotiated sale, after advertisement as is provided for in La. Rev. Stat. 39:1426, be in such form, carry such registration and exchangeability privileges, be payable at such place or places, be subject to such terms of redemption, and be entitled to such priorities on the income, revenue, and receipts of, or available to, the district or subdistrict, as applicable, as may be provided by the board in the resolution or resolutions providing for the issuance and sale of the bonds or obligations of the district.

(4)  The obligations of the district, or any subdistrict created by the district, shall be signed by such officers of the board by either manual or facsimile signatures as shall be determined by resolution or resolutions of the board, and shall have impressed or imprinted thereon the seal of the district, or a facsimile thereof.

(5)  Any obligations of the district, or any subdistrict created by the district, may be validly issued, sold, and delivered, notwithstanding that one or more of the officers of the board signing such obligations, or whose facsimile signature or signatures may be on the obligations, shall have ceased to be such officer of the board at the time such obligations shall actually have been delivered.

(6)  Obligations of the district, or any subdistrict created by the district, may be sold in such manner and from time to time as may be determined by the district to be most beneficial, subject to approval of the State Bond Commission, and the district may pay all expenses, premiums, fees, or commissions, which it may deem necessary or advantageous in connection with the issuance and sale thereof.

(7)  The board may authorize the establishment of a fund or funds for the creation of a debt service reserve, a renewal and replacement reserve, or such other funds or reserves as the board may approve with respect to the financing and operation of any project funded with the proceeds of such bonds and as may be authorized by any bond resolution, trust agreement, indenture of trust or similar instrument or agreement pursuant to the provisions of which the issuance of bonds or other obligations of the district or subdistrict may be authorized.

(8)  Any cost, obligation, or expense incurred for any of the purposes or powers of the district specified in this Section shall be a part of the project costs and may be paid or reimbursed as such out of the proceeds of bonds or other obligations issued by the district or subdistrict; provided however, no portion of any state sales taxes made directly available to the district pursuant to an agreement with the state shall be used by the district to pay the costs of constructing or operating any privately-owned hotel located within the district, without the consent of the Joint Legislative Committee on the Budget or its successor.

(9)  For a period of thirty days from the date of publication of the resolution authorizing the issuance of bonds hereunder, any persons in interest shall have the right to contest the legality of the resolution and the legality of the bond issue for any cause, after which time no one shall have any cause or right of action to contest the legality of said resolution or of the bonds authorized thereby for any cause whatsoever.  If no suit, action, or proceeding is begun contesting the validity of the bond issue within the thirty days herein prescribed, the authority to issue the bonds and to provide for the payment thereof, and the legality thereof and all of the provisions of the resolution authorizing the issuance of the bonds shall be conclusively presumed, and no court shall have authority to inquire into such matters.

(10)  Neither the members of the board nor any person executing the bonds shall be personally liable for the bonds or be subject to any personal liability by reason of the issuance thereof.  No earnings or assets of the district, or any subdistrict created by the district, shall accrue to the benefit of any private persons.  However, the limitation of liability provided for in this Paragraph shall not apply to any gross negligence or criminal negligence on the part of any member of the board or person executing the bonds.

(11)  All obligations authorized to be issued by the district, or any subdistrict created by the district, pursuant to the provisions of this Section, together with interest thereof, income therefrom, and gain upon the sale thereof shall be exempt from all state and local taxes.

(12)  The state and all public officers, any parish, municipality, or other subdivision or instrumentality of the state, any political subdivision, any bank, banker, trust company, savings bank and institution, building and loan association, savings and loan association, investment company or any person carrying on a banking or investment business, any insurance company or business, insurance association, and any person carrying on an insurance business, and any executor, administrator, curator, trustee, and other fiduciary, and any retirement system or pension fund may legally invest any sinking funds monies, or other funds belonging to them or within their control in any bonds or other obligations issued by the district, or any subdistrict created by the district, pursuant to the provisions of this Section, and such bonds or other obligations shall be authorized security for all public deposits.  It is the purpose of this Section to authorize such persons, firms, corporations, associations, political subdivisions and officers, or other entities, public or private, to use any funds owned or controlled by them, including but not limited to sinking, insurance, investment, retirement, compensation, pension and trust funds, and funds held on deposit, for the purchase of any such bonds or other obligations of the district or subdistrict, and that any such bonds shall be authorized security for all public deposits.  However, nothing contained in this Section with regard to legal investments or security for public deposits shall be construed as relieving any such person, firm, corporation, or other entity from any duty of exercising reasonable care in selecting securities.

I.  Term.  The district shall dissolve and cease to exist upon the later to occur of either one year after the date on which all loans, bonds, notes, and other evidences of indebtedness of the district, including refunding bonds, are paid in full as to both principal and interest, or fifty years from June 30, 2010.

J.  Liberal construction.  This Section, being necessary for the welfare of the state, the city-parish and its residents, shall be liberally construed to effect the purposes thereof.

K.  Severability.  The provisions of this Section are severable.  It is intended that if any provision of this Section should be adjudged invalid or unenforceable, then such provision shall be ineffective to the extent of such invalidity or unenforceability without invalidating the remaining provisions of this Section.

Acts 2010, No. 795, §1, eff. June 30, 2010.