Louisiana Revised Statutes 51:1353 – Powers
Terms Used In Louisiana Revised Statutes 51:1353
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- 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.
- Person: means any natural or juridical person, including corporations. See Louisiana Revised Statutes 51:1361
- Personal property: All property that is not real property.
The authority shall have the following powers in addition to any powers specifically conferred upon said authority elsewhere in this Chapter.
(1) To sue and be sued.
(2) To have a seal and alter the same at pleasure.
(3) To make and alter by-laws for its organization and internal management.
(4) To make rules and regulations governing the exercise of its corporate powers and the fulfillment of its corporate purposes under this title.
(5) To purchase, receive, lease, or otherwise acquire and hold in the name of the authority, and to sell, convey, mortgage, lease, pledge or otherwise dispose of upon such terms and conditions as the authority may deem advisable, real or personal property, together with such rights and privileges as may be incidental and appurtenant thereto and to the use thereof, including but not restricted to, any real or personal property acquired by the authority in the satisfaction of obligations contained in contracts, leases or other arrangements.
(6) To enter into contracts, leases or other arrangements providing for the establishment, operation, development and management of any property or facility under the jurisdiction of the authority.
(7) To enter into contracts, leases or other arrangements permitting any person to use any property or facility under the jurisdiction of the authority; permitting such person to build or add facilities or improvements upon such property or facility; and providing, at the discretion of the authority, for the acquisition by the authority of any such facilities or improvements built or added by such person, upon such terms and conditions as the authority may deem advisable.
(8) To sell or otherwise make available, upon such terms and conditions as the authority may deem advisable, any product, by-product or service produced in or provided by any facility under its jurisdiction.
(9) To fix and collect fees, rentals and charges for the use of any property or facility under its jurisdiction, or for the sale of any product, by-product or service produced in or provided by any such facility, and to establish the rights and privileges created upon payment thereof. Such fees, rentals and charges shall be established by the authority so as to produce revenues sufficient, together with any other funds available to the authority, to meet the expenses of maintenance and operation of the facilities of the authority, to fulfill the terms of agreements with the holders of its bonds, notes or other obligations, and to provide funds for such other corporate purposes as the authority may deem appropriate.
(10) To enter into any contracts and to execute all instruments necessary or convenient for the exercise of its corporate powers and the fulfillment of its corporate purposes under this title.
(11) To borrow money and to issue negotiable bonds, notes or other obligations and to provide for the rights of the holders thereof.
(12) To procure insurance, or obtain indemnification from the federal government or other persons, against any loss in connection with the assets of the authority and any liability in connection with the activities of the authority, such insurance or indemnification to be procured or obtained in such amounts, and from such sources, as the authority deems to be appropriate.
(13) To accept any gifts or grants or loans of funds or property or financial or other aid in any form from the federal government or any agency or instrumentality thereof or from the state or from any other source and to comply, subject to the provisions of this Chapter, with the terms and conditions thereof.
(14) To engage the services of bond counsel, financial advisors, accountants, engineers, attorneys and other private consultants on a contract basis for rendering professional and technical assistance and advice.
(15) To do all things necessary or convenient to carry out its corporate purposes and exercise the powers given and granted by this Chapter.
Acts 1968, No. 605, §3.