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Regular Session, 2010
SENATE BILL NO. 611
BY SENATOR DORSEY
SPECIAL DISTRICTS. Provides relative to the River Park Development District (gov sig)
AN ACT1
To enact R.S. 33:9038.64, relative to cooperative and economic development in East Baton2
Rouge Parish; to create the River Park Development District, a political subdivision3
of the state of Louisiana; to provide for the boundaries of the district; to provide for4
the governance of the district; to provide for the authority, powers, duties, and5
function of the governing body; to provide for the levy and collection of taxes and6
special assessments within the district; to provide for the authority to create7
subdistricts within the district; to authorize the district to issue and sell bonds; to8
authorize the district to engage in tax increment financing; to provide for the duration9
of the district; and to provide for related matters.10
Notice of intention to introduce this Act has been published.11
Be it enacted by the Legislature of Louisiana:12
Section 1. R.S. 33:9038.64 is hereby enacted to read as follows:13
§9038.64. River Park Development District14
A. Creation. There is hereby created in the city of Baton Rouge, parish15
of East Baton Rouge, hereinafter referred to as the "city-parish," the River16
Park Development District, a body politic and corporate of the state, referred17 SB NO. 611
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to in this Section as the "district." The district shall be a political subdivision1
of the state and the district is hereby granted all of the rights, powers, privileges2
and immunities accorded by law and the Constitution of Louisiana to political3
subdivisions of the state, subject to the limitations provided in this Section.4
B. Boundaries. The district shall be comprised of the following described5
parcels or tracts of land located in the city-parish, referred to in this Section as6
the "property":7
That certain tract or parcel of land containing 59.666 acres and8
comprised of four (4) contiguous tracts of land situated in Sections 40, 42 and9
44, Township 7 South, Range 1 West, Greensburg District of Louisiana, Parish10
of East Baton Rouge, State of Louisiana, fronting on the Mississippi River,11
being more particularly described as follows:12
TRACT I: That certain tract or parcel of land and all the rights, ways,13
privileges, servitudes, advantages and appurtenances hereto belonging or in14
anywise appertaining, including all accretion, alluvion, batture and sandbars,15
resulting from reliction or dereliction, the opening of new channels or the16
changes of water courses of the Mississippi River, situated in Section 42 and 44,17
Township 7 South, Range 1 West, Greensburg District of Louisiana, Parish of18
East Baton Rouge, State of Louisiana, fronting on the Mississippi River, being19
more particularly described as follows:20
Commence at the Northeast corner of Square 50, said Square being21
bounded by the Capitol Grounds property on the North, Lafayette Street on the22
East, North Street on the South and the Mississippi River on the West; thence23
South 88º 36' 19" West along the northerly line of aforesaid Square 50, a24
distance of 366.64 feet to a point on the Westerly line of the Illinois Central25
Railroad Right of Way, said point is marked by ½' iron rod; thence continue26
along the aforesaid line in a Northerly direction along a nontangent curve to the27
right having a radius of 3401.87 feet, a distance of 46.18 feet, the nontangent28
curve has a chord bearing of North 08º 17' 57" East and a chord distance of29 SB NO. 611
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46.17 feet; thence continue along the aforesaid line in a Northerly direction1
along a tangent curve to the left having a radius of 7165.15 feet, a distance of2
540.41 feet, the tangent curve has a chord bearing of North 06º 31' 38" East and3
a chord distance of 540.26 feet; thence continue along the aforesaid line, North4
04º 22' 00" East a distance of 994.37 feet to the intersection with a tangent5
curve; thence continue along the aforesaid line in a Northerly direction along6
a tangent curve to the right having a radius of 5779.58 feet, a distance of 240.417
feet, the tangent curve has a chord bearing of North 05º 33' 30" East and a8
chord distance of 240.00 feet; thence continue along the aforesaid line North 06º9
45' 00" East, a distance of 70.87 feet to the POINT OF BEGINNING marked10
by ½' iron rod; thence North 83º 44' 00" West a distance of 660.00 feet to a11
Mean Low Water Line, (Elevation 2.66'NGVD); thence, meander the Mean Low12
Water Line (Elevation 2.66' NGVD), along the following courses and distances:13
North 05/ 29' 55" West, 122.10 feet; North 03/ 56' 55" West, 100.01 feet; North14
01/ 18' 12" West, 305.16 feet; thence, leaving the Mean Low Water Line15
(Elevation 2.66 feet NGVD) along a course of North 87/ 50' 00 East, a distance16
of 742.50 feet to a point on the Westerly line of the Illinois Central Railroad17
Right of Way, said point is marked by ½" iron rod; thence North 06/ 45' 00"18
West along the aforesaid Right of Way line a distance of 631.00 feet to the19
POINT OF BEGINNING. This description is based on the survey entitled20
"Map Showing an As-Built Survey of Tract B-1, an 8.9 ± Acre Tract, & a 9.29021
Acre Tract Located in Section 42 & 44 T-7-S R-1-W Greensburg Land District22
East Baton Rouge Parish Louisiana for Louisiana Casino Cruises, Inc." dated23
April 11, 2001 and made by Chenevert Songy Rodi Soderberg, Inc.24
TRACT II: That certain tract or parcel of land and all the rights ways25
privileges, servitudes, advantages and appurtenances hereto belonging or in26
anywise appertaining, including all accretion, alluvion, batture and sandbars,27
resulting from reliction or dereliction, the opening of new channels or the28
changes of water courses of the Mississippi River, situated in Section 42 and 44,29 SB NO. 611
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Township 7 South, Range 1 West, Greensburg District of Louisiana, Parish of1
East Baton Rouge, State of Louisiana, fronting on the Mississippi River, being2
more particularly described as follows:3
Commencing at the intersection of the common boundary between4
Sections 42 and 44, T7S-R1W, East Baton Rouge Parish, and the western5
boundary of the Illinois Central Right of Way; thence proceed North 6º 45' 0"6
East a distance of 251.25' to the POINT OF BEGINNING; thence proceed7
South 87/ 50' 0" West a distance of 742.50 feet to the mean low water line of the8
Mississippi River; thence proceed North 01/ 18' 11" West along the mean low9
water line of the Mississippi River to the Northern boundary of the property;10
thence proceed North 87/ 50' 0" East a distance of 812.87 feet to a point and11
corner; thence proceed South 6/ 45'0" West a distance of 502.25 feet to the12
POINT OF BEGINNING. All as more particularly shown on a survey entitled13
"Map Showing an As-Built Survey of Tract B-1, an 8.9 ± Acre Tract, & a 9.29014
Acre Tract Located in Section 42 & 44 T-7-S R-1-W Greensburg Land District15
East Baton Rouge Parish Louisiana for Louisiana Casino Cruises, Inc." dated16
April 11, 2001 and made by Chenevert Songy Rodi Soderberg, Inc.17
TRACT III: Tract B-1, Hunnington Heights, containing 5.176 acres,18
located in Section 42, Township 7 South, Range 1 West, GLD, East Baton Rouge19
Parish, Louisiana, more particularly described and having such measurements20
as dimensions and being subject to such servitudes as are shown on the map21
entitled "Map Showing Resubdivision of Tract 'A' & Tract 'B' into Tract 'A-1'22
& Tract 'B-1', Hunnington Heights, located in Section 42, Township 7 South,23
Range 1 West, GLD, East Baton Rouge Parish, Louisiana", prepared by Tatum24
Engineering Consultants, dated September 15, 1998.25
TRACT IV: That certain lot or parcel of ground together with all26
building and improvements located thereon, and all of the rights, ways,27
privileges, servitudes, prescriptions, appurtenances and advantages thereunto28
belonging, or in anywise appertaining, containing 36.3 acres more or less,29 SB NO. 611
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located in Sections 40 and 42 Township 7-S, Range 1-W Greensburg Land1
District, East Baton Rouge Parish, Louisiana and being more particularly2
described as follows: Commence at the intersection of the Section 40 and 423
section line and the western boundary of the Illinois Central Rail Road Right4
of Way; thence proceed N06/45'00"E a distance of 543.9' to a point and corner;5
thence proceed N07/33'30"W a distance of 595.90' to a point and corner; thence6
proceed S88/00'00"W a distance of 938.80' to the low water line of the7
Mississippi River to a point and corner; thence meander the low water line of8
the Mississippi River southerly to a point which is S00/52'52"W a distance of9
approximately 1846.40' for a point and corner; thence proceed N87/50'01"E a10
distance of 177.77' to a point and corner; thence proceed N02/10'00"W a11
distance of 370.00' to a point and corner; thence proceed S82/12'42"E a distance12
of 768.77' to a point and corner; thence proceed N06/45'00"E a distance of13
479.16' to the point of beginning. All as more particularly shown on a Map14
Showing Resubdivision of Tract "A-1 into Tracts "A-1-A" and A-1-B" Located15
in Section 40 and 42, T-7-S, R-1-W, Greensburg Land District, East Baton16
Rouge Parish Louisiana for River Park Development, LLC and River Yaun,17
LLC, dated January 3, 2008, made by Pyburn & Odom MCA, Karam J.18
Thomas, P.L.S.19
C. Purpose. The district is created to provide for cooperative economic20
and community development among the district, the city-parish, the state and21
the owners of property in the district, in order to assist in the redevelopment of,22
and dramatic improvement to, the property within the area of the district.23
D. Governance. (1) In order to provide for the orderly development of24
the district and effectuation of the purposes of the district, the district shall be25
administered and governed by a board of commissioners, referred to in this26
Section as the "board," comprised of five persons appointed by the mayor-27
president of the city-parish with the concurrence of a majority of the city-parish28
council then present and voting.29 SB NO. 611
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(2) Each member appointed to the board shall be a citizen of the United1
States. At all times, at least one member of the board shall own property within2
the district or be the designee of a private entity that owns property within the3
district.4
(3)(a) Members of the board shall serve terms of five years after the5
initial terms as provided in Subparagraph (b) of this Paragraph.6
(b) One member, as designated by the mayor-president, shall serve a7
term that shall expire on December 31, 2011. One member, as designated by the8
mayor-president, shall serve a term that shall expire on December 31, 2012.9
One member, as designated by the mayor-president, shall serve a term that10
shall expire on December 31, 2013. One member, as designated by the mayor-11
president, shall serve a term that shall expire on December 31, 2014. One12
member, as designated by the mayor-president, shall serve a term that shall13
expire on December 31, 2015.14
(4) Upon expiration of the term of any member of the board, such15
member shall continue to serve until reappointed or a successor is duly16
appointed. Any vacancy in the membership of the board, occurring either by17
reason of death, resignation, or otherwise, shall be filled in the manner of the18
original appointment. If such appointment to fill a vacancy does not take place19
within sixty days, the board shall appoint an interim successor to serve until the20
position is filled by the appointing entity.21
(5) Any member of the board may be removed by a three-fourths vote22
of the remaining membership of the board for cause, which cause may include23
failure to attend at least one-half of the meetings of the board in a calendar24
year.25
(6) The members of the board shall serve without salary or per diem.26
The board may reimburse any member for reasonable, actual and necessary27
expenses incurred in the performance of his duties pursuant to this Section.28
(7) The board shall elect from its members a president, a vice president,29 SB NO. 611
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a secretary, and a treasurer, whose duties shall be those common to such offices.1
At the option of the board, the offices of secretary and treasurer may be held by2
one person.3
(8) The board shall meet in regular session once each month and shall4
also meet in special session as often as the president of the board convenes the5
board or upon the written request of three members. A majority of the6
members of the board of commissioners shall constitute a quorum for the7
transaction of business. All such meetings shall be public meetings subject to8
the provisions of R.S. 42:4.1 et seq. The board shall keep minutes of all9
meetings and shall make them available for inspection through the board's10
secretary or secretary-treasurer, who shall also maintain the minute books and11
archives of the district. The monies, funds, and accounts of the district shall be12
in the official custody of the board.13
(9) The domicile of the board shall be established by the board at a14
location within the district. The official journal of the district shall be the15
official journal of the city-parish.16
E. Rights and powers. The district, acting by and through its board, shall17
have and exercise all powers of a political subdivision necessary or convenient18
for the carrying out of its objects and purposes, including but not limited to the19
following:20
(1) To sue and to be sued.21
(2) To adopt, use, and alter at will a corporate seal.22
(3) To acquire by gift, grant, expropriation, purchase, or otherwise all23
property, including rights of way; to hold and use any franchise or property,24
real, personal, or mixed, tangible or intangible, or any interest therein,25
necessary or desirable for carrying out the objects and purposes of the district,26
including but not limited to the establishment, maintenance, and operation of27
industrial parks, ports, harbors, and terminals.28
(4) To enter into contracts for the purchase, acquisition, construction,29 SB NO. 611
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and improvement of works and facilities necessary in connection with the1
purposes of the district.2
(5) In its own name and on its own behalf to incur debt and to issue3
general obligation bonds, revenue bonds, special assessment bonds, certificates,4
notes, and other evidences of indebtedness and to levy and cause to be collected5
certain taxes as provided in this Section and as may be provided by general law.6
(6) To require and issue licenses with respect to its properties and7
facilities.8
(7) To regulate the imposition of fees and rentals charged by the district9
for its facilities and services rendered by it.10
(8) To borrow money and pledge all or part of its revenues, leases, rents,11
or other advantages as security for such loans.12
(9) To appoint officers, agents, and employees, prescribe their duties, and13
fix their compensation.14
(10) To exercise any and all of the powers granted to an economic15
development district as if the district were an economic development district16
established pursuant to Part II of Chapter 27 of Title 33 of the Louisiana17
Revised Statutes of 1950, including but not limited to the powers of tax18
increment financing pursuant to R.S. 33:9038.33 and 33:9038.34 and the power19
to levy taxes within the district pursuant to R.S. 33:9038.39, provided that any20
such powers exercised by the district shall be subject to the provisions of Part21
II of Chapter 27 of Title 33 of the Louisiana Revised Statutes of 1950.22
(11) To exercise any and all of the powers granted to a community23
development district as if the district were a community development district24
established pursuant to Chapter 27-B of Title 33 of the Louisiana Revised25
Statutes of 1950, including but not limited to the power to levy special26
assessments on property within the district pursuant to R.S. 33:9039.29,27
provided that any such powers exercised by the district shall be subject to the28
provisions of Chapter 27-B of Title 33 of the Louisiana Revised Statutes of 1950.29 SB NO. 611
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F. Levy of Taxes. (1) It is expressly provided that any taxes levied by1
the district, or any subdistrict created by the district, may exceed the limitation2
set forth by Article VI, Section 29(A) of the Constitution of Louisiana and shall3
be imposed, collected and enforced subject to the terms of the resolution4
imposing the tax and the provisions of Chapter 2 of Subtitle II of Chapter 47 of5
the Louisiana Revised Statutes of 1950.6
(2) Any taxes or assessments of any type to be levied by the district, or7
any subdistrict created by the district, shall be levied only after the board has8
adopted an appropriate resolution giving notice of its intention to levy such9
taxes or assessments, which resolution shall include a general description of the10
taxes or assessments to be levied, and notice of this intention shall be published11
once a week for two weeks in the official journal of the district, the first12
publication to appear at least fourteen days before the public meeting of the13
board at which the board will meet in open and public session to hear any14
objections to the proposed taxes or assessments. The notice of intent so15
published shall state the date, time, and place of the public hearing. Such taxes16
or assessments may be levied only after the board has called a special election17
submitting the proposition for the levy of such taxes or assessments to the18
qualified electors of the district or subdistrict, as applicable, and the proposition19
has received the favorable vote of a majority of the electors voting in the20
election; however, in the event there are no qualified electors in the district or21
subdistrict, as applicable, as certified by the registrar of voters, no such election22
shall be required. The powers and rights conferred by this Section shall be in23
addition to the powers and rights conferred by any other general or special law.24
This Section does and shall be construed to provide a complete and additional25
method for the levy of any taxes or assessments. No election, proceeding, notice,26
or approval shall be required for the levy of such taxes or assessments except27
as provided herein.28
G. Creation of Subdistricts. The district may create subdistricts as29 SB NO. 611
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provided in this Section. The district shall publish notice of its intent to create1
a subdistrict in the official journal of the district. At least ten days after2
publication of such notice in the official journal of the district, the board shall3
conduct a public hearing on the question of creating such subdistrict.4
Thereafter, the board may designate one or more areas within the boundaries5
of the district as a subdistrict of the district. Each subdistrict shall constitute6
a political subdivision of the state and shall be governed by the board. Each7
subdistrict shall have the same powers as the district and shall be given a name8
and designated as "River Park Development District Subdistrict No. " or such9
other suitable name as the board may designate.10
H. Bonds of the District. (1) The district, or any subdistrict created by11
the district, is hereby authorized and empowered to issue and sell from time to12
time bonds, notes, renewal notes, refunding bonds, interim certificates,13
certificates of indebtedness, certificates of participation, debentures, warrants,14
commercial paper, or other obligations or evidences of indebtedness to provide15
funds for and to fulfill and achieve its public purpose or corporate purposes, as16
set forth in this Section, including but not limited to the payment of all or a17
portion of the costs of a project, to provide amounts necessary for any corporate18
purposes, including necessary and incidental expenses in connection with the19
issuance of the obligations, the payment of principal and interest on the20
obligations of the district, the establishment of reserves to secure such21
obligations, and all other purposes and expenditures of the district incident to22
and necessary or convenient to carry out its public functions or corporate23
purposes, and any credit enhancement for said obligations.24
(2) Except as may otherwise be provided by the board, all obligations25
issued by the district, or any subdistrict created by the district, shall be26
negotiable instruments and payable solely from the revenues of the district or27
subdistrict, as applicable, as determined by the board, or from any other28
sources whatsoever, that may be available to the district or subdistrict, as29 SB NO. 611
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applicable, but shall not be secured by the full faith and credit of the state or the1
city-parish.2
(3) Obligations shall be authorized, issued, and sold by a resolution or3
resolutions of the board. Such bonds or obligations may be of such series, bear4
such date or dates, mature at such time or times, bear interest at such rate or5
rates, including variable, adjustable, or zero interest rates, be payable at such6
time or times, be in such denominations, be sold at such price or prices, at7
public or private negotiated sale, after advertisement as is provided for in R.S.8
39:1426, be in such form, carry such registration and exchangeability privileges,9
be payable at such place or places, be subject to such terms of redemption, and10
be entitled to such priorities on the income, revenue, and receipts of, or11
available to, the district or subdistrict, as applicable, as may be provided by the12
board in the resolution or resolutions providing for the issuance and sale of the13
bonds or obligations of the district.14
(4) The obligations of the district, or any subdistrict created by the15
district, shall be signed by such officers of the board by either manual or16
facsimile signatures as shall be determined by resolution or resolutions of the17
board, and shall have impressed or imprinted thereon the seal of the district, or18
a facsimile thereof.19
(5) Any obligations of the district, or any subdistrict created by the20
district, may be validly issued, sold, and delivered, notwithstanding that one or21
more of the officers of the board signing such obligations, or whose facsimile22
signature or signatures may be on the obligations, shall have ceased to be such23
officer of the board at the time such obligations shall actually have been24
delivered.25
(6) Obligations of the district, or any subdistrict created by the district,26
may be sold in such manner and from time to time as may be determined by the27
district to be most beneficial, subject to approval of the State Bond Commission,28
and the district may pay all expenses, premiums, fees, or commissions, which29 SB NO. 611
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it may deem necessary or advantageous in connection with the issuance and sale1
thereof.2
(7) The board may authorize the establishment of a fund or funds for the3
creation of a debt service reserve, a renewal and replacement reserve, or such4
other funds or reserves as the board may approve with respect to the financing5
and operation of any project funded with the proceeds of such bonds and as6
may be authorized by any bond resolution, trust agreement, indenture of trust7
or similar instrument or agreement pursuant to the provisions of which the8
issuance of bonds or other obligations of the district or subdistrict may be9
authorized.10
(8) Any cost, obligation, or expense incurred for any of the purposes or11
powers of the district specified in this Section shall be a part of the project costs12
and may be paid or reimbursed as such out of the proceeds of bonds or other13
obligations issued by the district or subdistrict.14
(9) For a period of thirty days from the date of publication of the15
resolution authorizing the issuance of bonds hereunder, any persons in interest16
shall have the right to contest the legality of the resolution and the legality of the17
bond issue for any cause, after which time no one shall have any cause or right18
of action to contest the legality of said resolution or of the bonds authorized19
thereby for any cause whatsoever. If no suit, action, or proceeding is begun20
contesting the validity of the bond issue within the thirty days herein21
prescribed, the authority to issue the bonds and to provide for the payment22
thereof, and the legality thereof and all of the provisions of the resolution23
authorizing the issuance of the bonds shall be conclusively presumed, and no24
court shall have authority to inquire into such matters.25
(10) Neither the members of the board nor any person executing the26
bonds shall be personally liable for the bonds or be subject to any personal27
liability by reason of the issuance thereof. No earnings or assets of the district,28
or any subdistrict created by the district, shall accrue to the benefit of any29 SB NO. 611
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private persons. However, the limitation of liability provided for in this1
Paragraph shall not apply to any gross negligence or criminal negligence on the2
part of any member of the board or person executing the bonds.3
(11) All obligations authorized to be issued by the district, or any4
subdistrict created by the district, pursuant to the provisions of this Section,5
together with interest thereof, income therefrom, and gain upon the sale thereof6
shall be exempt from all state and local taxes.7
(12) The state and all public officers, any parish, municipality, or other8
subdivision or instrumentality of the state, any political subdivision, any bank,9
banker, trust company, savings bank and institution, building and loan10
association, savings and loan association, investment company or any person11
carrying on a banking or investment business, any insurance company or12
business, insurance association, and any person carrying on an insurance13
business, and any executor, administrator, curator, trustee, and other fiduciary,14
and any retirement system or pension fund may legally invest any sinking funds15
monies, or other funds belonging to them or within their control in any bonds16
or other obligations issued by the district, or any subdistrict created by the17
district, pursuant to the provisions of this Section, and such bonds or other18
obligations shall be authorized security for all public deposits. It is the purpose19
of this Section to authorize such persons, firms, corporations, associations,20
political subdivisions and officers, or other entities, public or private, to use any21
funds owned or controlled by them, including but not limited to sinking,22
insurance, investment, retirement, compensation, pension and trust funds, and23
funds held on deposit, for the purchase of any such bonds or other obligations24
of the district or subdistrict, and that any such bonds shall be authorized25
security for all public deposits. However, nothing contained in this Section with26
regard to legal investments or security for public deposits shall be construed as27
relieving any such person, firm, corporation, or other entity from any duty of28
exercising reasonable care in selecting securities.29 SB NO. 611
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I. Term. The district shall dissolve and cease to exist upon the later to1
occur of either one year after the date on which all loans, bonds, notes, and2
other evidences of indebtedness of the district, including refunding bonds, are3
paid in full as to both principal and interest, or fifty years from the effective4
date of this Section.5
J. Liberal Construction. This Section, being necessary for the welfare6
of the state, the city-parish and its residents, shall be liberally construed to7
effect the purposes thereof.8
K. Severability. The provisions of this Section are severable. It is9
intended that if any provision of this Section should be adjudged invalid or10
unenforceable, then such provision shall be ineffective to the extent of such11
invalidity or unenforceability without invalidating the remaining provisions of12
this Section.13
Section 2. This Act shall become effective upon signature by the governor or, if not14
signed by the governor, upon expiration of the time for bills to become law without signature15
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If16
vetoed by the governor and subsequently approved by the legislature, this Act shall become17
effective on the day following such approval.18
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Martha S. Hess.
DIGEST
Proposed law creates the River Park Development District in the city of Baton Rouge as a
political subdivision of the state. Provides for the boundaries of the district.
Provides that the purpose of the district is to provide for cooperative economic and
community development among the district, the city-parish, the state, and the owners of the
property in the district, in order to assist in the redevelopment of the property within the
district.
Provides that the district shall be governed by a five-member board of commissioners
appointed by the mayor-president of the city-parish with the concurrence of a majority of
the city-parish council then present and voting. Provides for five-year terms after the initial
staggered terms. Provides with respect to officers and meetings of the board.
Provides that the domicile of the board shall be established by the board at a location within
the district. Provides the general rights and powers of the district and its board of
commissioners shall include the following: SB NO. 611
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
(1)To sue and to be sued.
(2)To adopt and use a corporate seal.
(3)To acquire by gift, grant, expropriation, 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.
(5)To incur debt and to issue general obligation bonds, revenue bonds, special
assessment bonds, certificates, notes, and other evidences of indebtedness and to levy
and cause to be collected certain taxes.
(6)To require and issue licenses with respect to its properties and facilities.
(7)To regulate the imposition of fees and rentals charged by the district for its facilities
and services rendered by it.
(8)To borrow money and pledge all or part of its revenues, leases, rents, or other
advantages as security for such loans.
(9)To appoint officers, agents, and employees, prescribe their duties, and fix their
compensation.
(10)To exercise any and all of the powers granted to an economic development district,
including but not limited to the powers of tax increment financing, and the power to
levy taxes within the district.
(11)To exercise any and all of the powers granted to a community development district,
including but not limited to the power to levy special assessments on property within
the district.
Provides that the district may exceed the limit for sales taxes set forth in Article VI, Section
29(A) of the Constitution. Provides that taxes and assessments to be levied by the district
shall be levied only after the board has adopted a resolution and giving notice at least
fourteen days prior to the public meeting of the board to hear any objections to the proposed
taxes or assessments. Provides that such taxes or assessments may be levied only after
approval of the electors voting at a special election; however, if there are no qualified
electors in the district, no election shall be required.
Provides that the district may create subdistricts.
Provides that the district may issue bonds, notes, certificates of indebtedness and other
obligations or evidences of indebtedness. Provides that obligations shall be authorized,
issued, and sold by a resolution of the board in such manner and from time to time as
determined by the district, subject to approval of the State Bond Commission.
Provides that for 30 days after the date of publication of the resolution authorizing the bonds,
any person in interest may contest the legality of such. After 30 days, no one shall have any
right to contest the legality of the resolution.
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Provides that the district will dissolve upon the later of one year after the date on which all
loans, bonds, notes, and other evidences of indebtedness of the district are paid in full or 50
years from the effective date of proposed law.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Adds R.S. 33:9038.64)