Louisiana Revised Statutes 48:993 – Lease of ferries, advertisement for bids
Terms Used In Louisiana Revised Statutes 48:993
- 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.
- 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
The parish governing authority or municipal corporation having the right to lease any ferry shall advertise for bids in the manner prescribed for judicial advertisement for three weeks, the first advertisement to be made at least fifteen days prior to the date set for the opening of the bids. If the ferry to be leased plies between two different parishes, between a parish and a municipal corporation in another parish, or between municipalities in different parishes, the parish governing authority or the municipal councils, as the case may be, shall jointly advertise for bids for the lease of the ferry franchise in the manner prescribed for judicial advertisement for three weeks in the official journal of the parishes or municipalities, as the case may be.
It is not necessary to advertise the proposed lease or the conditions or obligations thereof in its entirety. The advertisement shall merely notify prospective bidders of the sale of the proposed lease and that the lease will be sold to the highest bidder on such terms and conditions and at such a place as is prescribed or agreed upon by the parish governing authorities or municipal councils, or both, as the cause may be. If the lease of a ferry is to be sold at public auction to the last and highest bidder instead of by sealed bidding, the advertisement shall so state. The advertisement shall notify prospective bidders that a copy of the lease may be obtained free of charge from the secretary of the parish governing authority or the clerk of the municipal council, containing all of the details, conditions, and obligations of the ferry franchise. No ferry shall be leased for a longer period than ten years.
Amended by Acts 1968, No. 75, §1.