Louisiana Revised Statutes 33:9039.108 – Special powers
Terms Used In Louisiana Revised Statutes 33:9039.108
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Bequest: Property gifted by will.
- Bond: means the bonds, notes, renewal notes, refunding bonds, interim certificates, certificates of indebtedness, certificates of participation, debentures, warrants, commercial paper, capital leases, revenue bonds, or other obligations or evidences of indebtedness authorized to be issued by a district. See Louisiana Revised Statutes 33:9039.103
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Devise: To gift property by will.
- District: means a local or regional economic development district created pursuant to this Chapter. See Louisiana Revised Statutes 33:9039.103
- 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
- Personal property: All property that is not real property.
- Project: means a capital improvement project including capital equipment funding as more particularly described in Louisiana Revised Statutes 33:9039.103
- Public entities: means (a) state boards, agencies or commissions, parishes, municipalities, city, parish, and other local school boards and districts, levee boards and districts, port boards and commissions, port, harbor, terminal and industrial districts, drainage and land reclamation districts, all special service districts including but not limited to road, water, sewerage, fire protection, recreation, hospital service, and gas utility districts; (b) all other political subdivisions, special authorities, commissions, public trusts, and boards heretofore or hereafter created by or pursuant to the constitution or statutes of the state, any laws incorporated into or ratified or confirmed by the constitution, or general or special charters of any parish or municipality; and (c) all other units of local government created by or governed by the governing authorities of parishes or municipalities. See Louisiana Revised Statutes 33:9039.103
- State: means the state of Louisiana. See Louisiana Revised Statutes 33:9039.103
In addition to the general powers granted in this Chapter, the district shall have the following special powers:
(1) To act as a coordinating entity for development of policy and scope of the economic development efforts within the district.
(2) To enter into cooperative endeavor agreements with any entity or individual, public entity or private, relative to funding or supporting the economic development efforts.
(3) To pay the costs of planning, acquiring, establishing, developing, constructing, or renovating one or more projects beneficial to the district.
(4) To pay the costs of operating or maintaining one or more projects during the planning, acquisition, establishment, development, construction, or renovation of such project or while bonds or obligations for the planning, acquisition, establishment, development, construction, or renovation of such project are outstanding.
(5) To authorize the creation of an economic development corporation to operate for the benefit of the district pursuant to Chapter 27 of this Title, and to contract therewith to achieve financings or to undertake projects on public or private property, and to otherwise have the power of a governmental entity under that Chapter, notwithstanding any provision of law to the contrary. However, the authority of such economic development corporation shall not exceed the authority of the district, and such economic development corporation shall comply with all obligations and be subject to all restrictions imposed on the district. Any corporation created pursuant to this Paragraph shall be subject to the Public Records Law and the Open Meetings Law.
(6) To establish public-private partnerships and joint ventures for the benefit of the district and to contract with private concerns who may be granted leases, rights of use, or other concessions for contributing private at-risk capital for a particular district project.
(7) To contract by cooperative endeavor agreement or otherwise with other public entities within or without the boundaries of the district, for multiyear funding commitments for any purpose of the district upon a showing of benefit to such public body who may incur debt thereby with the prior approval of the State Bond Commission unless such agreements are subject to annual appropriation, in which event they shall be considered operating expenses and shall not be subject to such approval.
(8) To undertake any project beneficial to the district.
(9) To employ consulting engineers, architects, attorneys, accountants, construction and financial experts, superintendents and managers, and agents as may be necessary to carry out district purposes, and to fix their compensation.
(10) To solicit, accept, and collect funds, federal, state, or local grants, donations, and contributions in cash or in property and to take by will or bequest, donation, devise, or other legal means, in trust or absolutely, real or personal property, whether tangible or intangible, subject to the terms, conditions, or limitations contained in the instrument by which such property is acquired. The district is hereby specifically empowered to serve as the beneficiary of a public trust heretofore and hereafter created pursuant to La. Rev. Stat. 9:2341 et seq. The district may also accept and expend any sum appropriated by the federal government, the state of Louisiana, or any political subdivision or agency thereof for the purpose of administering or carrying out of any purposes or functions of the district authorized thereby.
(11) To acquire real and personal property by lease, purchase, donation, or otherwise, including but not limited to land, improvements, oil, gas, and mineral rights, stocks, bonds, notes, and any other things of value. Title thereto shall be taken in the name of the district.
(12) To negotiate lease-lease back, sale-sale back, purchase-lease, or sale-lease transactions with any public or private entity in the manner set forth in La. Rev. Stat. 33:4717.2.
(13) To coordinate implementation of any master plan for development of the district.
(14) To create, fund, and hold special purpose funds and accounts for closing, investing, or otherwise facilitating projects or programs.
Acts 2006, No. 839, §1, eff. July 5, 2006.