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Regular Session, 2010 ENROLLED
SENATE BILL NO. 761
BY SENATOR DUPLESSIS
AN ACT1
To amend and reenact R.S. 33:4701(A), 4702(B)(1), (2), (4) and (6)(b), (C), (E), (F), (G),2
4703(A) and (C), and 4706(A) and (B); to enact R.S. 33:4701(C), 4702(B)(3) and3
(D), and 4706(C) and (D), and to repeal R.S. 33:4702(H),(I) and (J); relative to the4
New Orleans Regional Business Park; to provide with respect to the purpose of the5
district; to provide with respect to the members appointed to the board; to provide6
for an executive director; to provide with respect to plans submitted by the board and7
the process related to such plans; to provide with respect to issuing bonds; to provide8
with respect to unpaid and outstanding bonds; to provide with respect to the powers9
of the district; to provide with respect to the use of district funds; and to provide for10
related matters.11
Notice of intention to introduce this Act has been published.12
Be it enacted by the Legislature of Louisiana:13
Section 1. R.S. 33:4701(A), 4702(B)(1), (2), (4) and (6)(b), (C), (E), (F), (G),14
4703(A) and (C), and 4706(A) and (B) are hereby amended and reenacted, and R.S.15
33:4701(C), 4702(B)(3) and (D), and 4706(C) and (D) are hereby enacted to read as follows:16
§4701. The New Orleans Regional Business Park; creation and powers17
A. There is hereby created in the city of New Orleans in the hereinafter18
described area a special municipal district designated as the "New Orleans Regional19
Business Park," hereinafter referred to as the "district", which, through its board of20
commissioners, shall have the power to acquire, construct, improve, maintain, and21
operate projects and to provide additional municipal services within the district. The22
New Orleans Regional Business Park, hereinafter referred to as the "district",23
is hereby constituted and is declared to be a body politic and political24
subdivision of the state of Louisiana, as defined in Article VI, Section 44 of the25
ACT No. 673 SB NO. 761 ENROLLED
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Constitution of Louisiana and shall exist in perpetuity. Pursuant to Article VI,1
Sections 19, 20, and 21 of the Constitution of Louisiana, the district, acting2
through its board of commissioners, the governing authority of said district, is3
hereby granted all of the rights, powers, privileges, and immunities accorded by4
law and the Constitution of Louisiana to political subdivisions of the state,5
including but not limited to, the power of taxation, the power to incur debt and6
issue revenue and general obligation bonds, certificates of indebtedness, bond7
and certificate anticipation notes, and refunding bonds, subject to the8
limitations hereinafter provided.9
* * *10
C. The district is created for the object and purpose of stimulating11
industrial and commercial development in Orleans Parish and the parishes12
adjacent to Orleans Parish by developing stable and more extensive13
employment opportunities, promoting economic development, especially in14
disadvantaged communities, improving infrastructure, and promoting the15
overall welfare of the citizens of Orleans Parish. It may do so through16
diversified activities, including but not limited to, activities and planned land17
uses to foster creation of new jobs, economic development, industry, health care,18
commerce, manufacturing, tourism, relocation of people and businesses to the19
district or areas near the district, aviation, military, warehousing,20
transportation, offices, recreation, housing, environmental conservation, the21
acquisition of land and improvements, and, when necessary, the construction,22
operation, and maintenance of facilities, improvements and infrastructure,23
including buildings, runways, roads, bridges, drainage, and utilities.24
§4702. Board of commissioners; appointment and term; organization25
* * *26
B.(1) In order to provide for the orderly planning, development, acquisition,27
construction, and effectuation of the services, projects, improvements, and facilities28
to be provided or furnished by the district, and to provide for the representation in29
the affairs of the district of those persons and interests immediately concerned with30 SB NO. 761 ENROLLED
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and affected by the functions, operation, purposes, and developments of the district,1
the New Orleans Regional Business Park shall be managed by a board of2
commissioners comprised of qualified voters and legal Louisiana residents.3
(2) The board shall be composed of fifteen twelve members who shall be4
appointed as follows:5
(a) The New Orleans East Business Association shall appoint one member6
who shall serve an initial term of one year.7
(b) The New Orleans Chamber Inc. of Commerce shall appoint one member8
who shall serve an initial term of one year.9
(c)(b) The state representative whose representative district is defined in R.S.10
24:35.5(A)(100) shall appoint one member who shall serve an initial term of two11
years.12
(d)(c) The state senator whose senatorial district is defined in R.S. 24:35.113
as District 2 shall appoint two members each of whom shall serve an initial term of14
three years.15
(e)(d) The councilman councilperson of the councilmanic council district16
in which the special municipal district New Orleans Regional Business Park is17
located shall appoint one member who shall serve an initial term of three years.18
(f)(e) The mayor of the city of New Orleans shall appoint two three members19
each of whom shall serve an initial term of three years.20
(g)(f) The state representative whose representative district is defined in R.S.21
24:35.5(A)(103) shall appoint one member who shall serve an initial term of two22
years.23
(h)(g) The state representative whose representative district is defined in R.S.24
24:35.5(A)(101) shall appoint one member who shall serve an initial term of two25
years.26
(h) The secretary of the Department of Economic Development shall27
appoint one member.28
(l) (i) The board of commissioners of the Port of New Orleans shall appoint29
one member who shall serve an initial term of two years.30 SB NO. 761 ENROLLED
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(i) The New Orleans East Economic Development Foundation shall appoint1
one member who shall serve an initial term of one year.2
(j) The governor shall appoint one member who shall serve an initial term of3
one year.4
(k) The lieutenant governor shall appoint one member who shall serve an5
initial term of one year.6
(l) The board of commissioners of the Port of New Orleans shall appoint one7
member who shall serve an initial term of two years.8
(m) The Regional Planning Commission for Jefferson, Orleans, Plaquemines,9
St. Bernard, and St. Tammany parishes shall appoint one member who shall serve10
an initial term of two years.11
(3) Any vacancy in the membership of the board occurring by reason of12
the expiration of the term of office, or by reason of death, resignation,13
disqualification, or otherwise, shall be filled by the respective nominating entity14
within sixty days after receipt by such nominating entity of written notification15
of the vacancy. In the event that the respective nominating entity fails to fill the16
vacancy within sixty days after receipt of written notification of the vacancy, the17
board shall appoint an interim successor to serve on the board until the position18
is filled by the respective nominating entity responsible for the appointment of19
such member. If the board fails to fill a vacancy in its membership within the20
next sixty day period, the mayor shall appoint such member. Any board21
member appointed by the board or mayor pursuant to this Paragraph may be22
replaced at any time by the nominee of the appointing authority.23
(4) In the event any of the foregoing organizations or public officials fail to24
make an appointment within sixty days of the date on which notice to make such25
appointment is sent to such organization or public official by the mayor, then the26
mayor shall appoint such member as would have been authorized for such27
organization or public official. Any member who has unexcused absences of fifty28
percent or more of the meetings, regular and special, of the board in any29
calendar year shall be disqualified and removed automatically from office and30 SB NO. 761 ENROLLED
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that person's position shall be vacant, as of the first day of the succeeding1
calendar year. Such vacated position shall be filled by the respective nominating2
entity for the balance of the vacated term. The former member shall not be3
eligible for reappointment until expiration of the balance of the vacated term.4
* * *5
(6) * * *6
(b) Any member of the board appointed pursuant to Subparagraph7
Subparagraphs (2)(a) through (i) (h) of this Subsection may be removed by his8
respective appointing authority at any time, with or without cause.9
* * *10
C.(1) The board of commissioners shall elect from its members a chairman,11
a vice chairman, a secretary-treasurer and such other officers as it may deem12
necessary at its first meeting; the chairman shall serve at the pleasure of the board.13
The board of commissioners may also select one person as president executive14
director; three people as vice presidents directors to be in charge of marketing,15
operations, and finance respectively, who shall not be members of the board, but who16
shall be qualified voters and legal Louisiana residents.17
(2) The secretary-treasurer shall furnish such bonds as may be required by the18
board of commissioners. The premium on the bond shall be paid out of the operating19
funds of the district. The president executive director shall be the chief executive20
officer of the district, shall manage its affairs and operation, subject to the rules and21
regulations and bylaws adopted by the council and the board. The president22
executive director and three vice presidents directors shall receive such salary and23
office expense allowance, if any, as shall be fixed and determined by the board of24
commissioners.25
D. The executive director, with the concurrence of the board of the26
district, may hire such staff and other necessary personnel as may be necessary27
to carry out the directions and instructions of the board and may perform such28
other acts as may be directed by the board.29
E.(1) The board of the district shall prepare, or cause to be prepared a plan30 SB NO. 761 ENROLLED
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or plans, such plan or plans being hereinafter referred to, collectively, as the plan,1
specifying the public improvements, projects, facilities, and services proposed to be2
furnished, provided, constructed or acquired, for the district, and it shall conduct3
such public hearings, publish such notice with respect thereto and disseminate such4
information as it in the exercise of its sound discretion may deem to be appropriate5
or advisable and in the public interest.6
(2) Any such plan may specify and encompass any public services, which the7
city of New Orleans is then furnishing or providing, or may then, or in the future, be8
obligated to furnish or provide with respect to persons or property within the9
boundaries of the district.10
(3) Any plan shall include (a) an estimate of the annual and aggregate cost11
of acquiring, constructing, or providing the public services, capital improvements,12
projects, or facilities set forth therein; (b) an estimate of the proportion of the tax to13
be levied on the taxable real property within the district which is to be set aside and14
dedicated to paying the cost of furnishing specified public services, and an estimate15
of the proportion of such tax to be set aside and dedicated to paying the cost of16
projects or capital improvements, or paying the cost of debt service on any bonds to17
be issued to pay the cost of projects or capital improvements, such proportions, in18
each case, to be expressed in numbers of mills; and (c) an estimate of the aggregate19
number of mills required to be levied in each year on the taxable real property within20
the district in order to provide the funds required for the implementation or21
effectuation of the plan for furnishing the public services specified and for projects,22
capital improvements or debt service, or any combination thereof.23
(4) The board of the district shall also submit its plan to the planning24
commission of the city of New Orleans. Said planning commission shall review and25
consider the plan in order to determine whether or not it is consistent with the26
comprehensive plan for the city of New Orleans, and shall within thirty days27
following receipt thereof submit to the city council its written opinion as to whether28
or not the plan or any portion or detail thereof is inconsistent with the comprehensive29
plan for the city, together with its written comments and recommendation with30 SB NO. 761 ENROLLED
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respect thereto.1
(5) After receipt of the plan together with the written comments and2
recommendations of the city planning commission, the council shall review and3
consider the plan, together with such written comments and recommendations. The4
council may by a majority vote of its members adopt or reject the plan as originally5
submitted by the board, or it may alter or modify the plan or any portion or detail6
thereof, but only by a majority vote of all of its members. If the plan as originally7
submitted by the board is adopted by a majority vote of the council, it shall become8
final and conclusive and may thereafter be implemented. If, however, the council9
alters or modifies the plan by a majority vote of its members, the plan so altered or10
modified shall be resubmitted to the board of the district for its concurrence or11
rejection. The board of the district may concur in such modified plan by a majority12
vote of all of its members. If the board so votes to concur in the plan as modified by13
the council, it shall notify the council in writing of its action. Thereafter, and as often14
and at such time or times as the board may deem to be necessary or advisable, it shall15
prepare, or cause to be prepared, a plan or plans and submit the same to the city16
planning commission in accordance with the same procedure hereinabove prescribed17
with respect to the original plan. The city planning commission shall, in turn, submit18
such plan, together with its written comments and recommendations to the council19
for its adoption, modification or rejection in the same manner and with the same20
effect as hereinabove provided with respect to the original plan submitted, as21
aforesaid.22
F. The executive director, with the concurrence of the board of the district,23
may hire such staff and other necessary personnel as may be necessary to carry out24
the directions and instructions of the board, and may do such other acts as may be25
directed by the board.26
G. All services to be furnished within the district pursuant to any plan finally27
and conclusively adopted hereunder, shall be furnished and supplied by the city of28
New Orleans through its regularly constituted departments, agencies, boards,29
commissions, and instrumentalities as appropriate in the circumstances. and all30 SB NO. 761 ENROLLED
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capital improvements, projects and facilities to be acquired, constructed or provided1
within the district, whether from the proceeds of bonds or otherwise, shall likewise2
be so acquired, constructed, or provided by the city of New Orleans through its3
regularly constituted departments, agencies, boards, commissions, and4
instrumentalities as appropriate in the circumstances, it being the intent hereof to5
avoid duplication of administrative and management efforts and expense in the6
implementation of any plan adopted for the benefit of the district. In order to provide7
such public services and provide, construct or acquire such capital improvements,8
projects and facilities the board, upon the recommendation of its executive director,9
may enter into contracts with the city of New Orleans. The cost of any such public10
services, projects, capital improvements and facilities shall be paid to the city of New11
Orleans out of the proceeds of the special tax levied upon real property within the12
district as herein provided, or from the proceeds of bonds, as the case may be.13
H. The board, in addition to all other taxes which it is now or hereafter may14
be authorized by law to levy and collect, is hereby authorized to levy and collect, as15
specifically provided in Subsection K hereinafter, for a term not to exceed fifty years16
from and after the date the first tax is levied pursuant to the provisions of this17
Section, in the same manner and at the same time as all other ad valorem taxes on18
property subject to taxation by the city are levied and collected, a special ad valorem19
tax upon all taxable real property situated within the boundaries of the district except20
property occupied in whole or in part as a residence by an owner thereof. The21
number of mills hereby authorized shall not exceed twenty mills on the dollar of22
assessed valuation on all taxable property within the district. Said The tax, when23
levied, shall be from year to year, or for such period of years not to exceed fifty years24
as may be designated in the resolution by which the election is called on the question25
of the imposition of said tax. No such tax shall be levied until a plan requiring or26
requesting the levy of a tax is finally and conclusively adopted in accordance with27
the procedures prescribed in this Section. The proceeds of said the tax shall be used28
solely and exclusively for the purposes and benefit of the district.29
I.F.(1) The board, by resolution adopted by a vote of a majority of the30 SB NO. 761 ENROLLED
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members of the board of the district, shall have power and is hereby authorized to1
incur indebtedness for and on behalf and for the sole and exclusive benefit of the2
district, and to issue at one time, or from time to time, negotiable bonds, notes and3
other evidence of indebtedness, herein referred to collectively as bonds, of the4
district, the principal of, premium if any, and interest on which shall be payable5
solely from the proceeds of the special tax authorized, levied, and collected pursuant6
to the provisions of this Section for the purpose of paying the cost of acquiring and7
constructing capital improvements, projects, and facilities within the district. Such8
bonds shall not constitute general obligations of the city of New Orleans, nor shall9
any property situated within the city other than property situated within the10
boundaries of the district be subject to taxation for the payment of the principal of,11
premium, if any, and interest on such bonds. Furthermore, any indebtedness incurred12
by the city of New Orleans for and on behalf and for the benefit of the district13
pursuant to the provisions of this Section, whether evidenced by bonds, notes or14
other evidences of indebtedness, or otherwise, shall be excluded in determining the15
power of the city of New Orleans to incur indebtedness and to issue its general16
obligation bonds. The principal amount of such bonds which may be outstanding and17
unpaid at any one time in the district shall never exceed the sum of fifty million18
dollars. All such bonds shall be sold by the board, and shall bear such rate or rates19
of interest, and shall, except as herein otherwise specifically provided, be in such20
form, terms, and denominations, be redeemable at such time or times at such price21
or prices, and payable at such times and places, within a period of not exceeding fifty22
years from the date thereof, as the board, shall determine.23
(2) Said The bonds shall be signed by the president chairperson of the board24
of commissioners, and countersigned by the secretary of the board, and the coupons25
attached to said the bonds shall bear the facsimile signatures of said the president26
chairperson and said the secretary. In case any such officer whose signature or27
countersignature appears upon such a bond or coupon shall cease to be such officer28
before delivery of said the bonds or coupons to the purchaser, such signature or29
countersignature shall nevertheless be valid for all purposes. The cost and expense30 SB NO. 761 ENROLLED
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of preparing and selling the bonds authorized herein shall be paid out of the proceeds1
realized from the sale of such bonds.2
(3) The resolution of the board, authorizing the issuance and sale of such3
bonds and fixing the form and details thereof, may contain such other provisions, not4
inconsistent or in conflict with the provisions of this Section, as it may deem to be5
necessary or advisable to enhance the marketability and acceptability thereof by6
purchasers and investors, including, but without limiting the generality of the7
foregoing, covenants with bond holders setting forth (a) conditions and limitations8
on the issuance of additional bonds constituting a lien and charge on the special tax9
levied on real property within the district pari passu pari passu with bonds10
theretofore issued and outstanding and (b) the creation of reserves for the payment11
of the principal of and interest on such bonds. These bonds and the interest thereon12
are exempt from all taxation levied for state, parish or municipal or other local13
purposes; and savings banks, tutors of minors, curators of interdicts, trustees and14
other fiduciaries are authorized to invest the funds in their hands in said the bonds.15
(4) The Board of Liquidation, City Debt, as now organized and created, and16
with the powers, duties and functions prescribed by existing laws, shall be continued17
so long as any bonds authorized by this Section are outstanding and unpaid.18
J.G. Notwithstanding any other provision of this Section to the contrary, no19
tax authorized herein shall be levied and no bonds shall be issued unless and until the20
amount of the tax authorized to be levied and the amount of the bonds authorized to21
be issued has been approved by a majority of the electors voting thereon in the city22
of New Orleans in an election called for that purpose. No bonds issued pursuant to23
this Section shall be general obligations of the state of Louisiana, the parish of24
Orleans or the city of New Orleans.25
§4703. Corporate status; domicile; Domicile; purpose and powers26
A. The New Orleans Regional Business Park a special municipal district27
created under the provisions of this Part, shall constitute a body corporate in law,28
with all the powers of a corporation, and with all the powers and rights of a political29
subdivision of the state as provided by the constitution and laws of this state,30 SB NO. 761 ENROLLED
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including but not limited to the power to incur debt and issue, or secure the issuance1
of, negotiable bonds in accordance with the power and authority and in the form and2
manner, and with the effect and security now or hereafter provided by the3
constitution and laws of the state of Louisiana, and particularly subject to the4
provisions of R.S. 33:4702. The district through its board of commissioners may sue5
and be sued, have a corporate seal, and do and perform any and all acts in its6
corporate capacity and in its corporate name which are necessary and proper for7
carrying out the purposes and objects for which it is created. All of the property8
belonging to the district shall be exempt from taxation.9
* * *10
C. The objectives and purposes of the special municipal district created under11
the provisions of this Part shall be to provide for the acquisition, construction,12
improvement, maintenance and operation, of special projects, additional municipal13
services, capital improvements, and facilities within the district. Except as14
inconsistent with the provisions of this Part, the district created hereby is granted and15
shall have and may exercise all powers necessary or convenient for the carrying out16
of such objects and purposes including, by way of illustration, but not limitation, and17
subject to the provisions of R.S. 33:4702, the following rights and powers:18
(1) To acquire or purchase any property, or any interest therein, at any19
time to accomplish the objects and purposes of the district, lease as lessee and to20
hold and use any property, real, personal, or mixed, tangible or intangible, or any21
interest therein necessary or desirable for carrying out the purposes of the district,22
and to sell, transfer, convey, lease as lessor, transfer, or dispose of any property or23
interest therein acquired by it.24
(2) To acquire by purchase, lease, or otherwise and to construct, improve,25
maintain, repair, and operate facilities which it deems necessary or convenient to26
carry out its purposes. lease or sublease, as lessor or lessee or sublessor or27
subleasee, all or portion of any property at a fixed or variable rental without28
advertisement for public bids.29
(3) To enter into agreements of any nature with any person or persons, natural30 SB NO. 761 ENROLLED
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or artificial, corporation, association or other entity, including public corporations,1
political subdivisions, municipalities, the United States government and agencies2
thereof, or any combination thereof or with instrumentalities of every kind, for the3
operation of the district, including all or any part of the properties and facilities4
thereof. To acquire by purchase, lease, or otherwise and to construct, improve,5
maintain, repair, and operate facilities which it deems necessary or convenient6
to carry out its purposes.7
(4) To make and enter into contracts, conveyances, mortgages, deeds or8
trusts, bonds, and leases in the carrying out of its corporate objects. To enter into9
agreements of any nature with any person or persons, natural or juridical,10
corporation, association or other entity, including public corporations, political11
subdivisions, municipalities, the United States government and agencies thereof,12
or any combination thereof or with instrumentalities of every kind, for the13
operation of the district, including all or any part of the properties and facilities14
thereof.15
(5) To let contracts for the construction or acquisition in any other manner,16
except through the power of eminent domain, of property and facilities incident to17
the carrying out of the purpose or purposes of the district, which contracts shall be18
let in such manner as shall be determined by the board in conformance with law. To19
make and enter into contracts, conveyances, mortgages, deeds or trusts, bonds,20
and leases in the carrying out of its corporate objects.21
(6) To fix, maintain, collect, and revise rates, charges, and rentals for the22
properties and facilities owned by the district and the services rendered by the23
district. To let contracts for the construction or acquisition in any other24
manner, except through the power of eminent domain, of property and facilities25
incident to the carrying out of the purpose or purposes of the district, which26
contracts shall be let in such manner as shall be determined by the board in27
conformance with law.28
(7) To make bylaws for the management and regulation of its affairs, not29
inconsistent with the rules, regulations, and bylaws adopted by the council for the30 SB NO. 761 ENROLLED
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governance of the district. To fix, maintain, collect, and revise rates, charges, and1
rentals for the properties and facilities owned by the district and the services2
rendered by the district.3
(8) In its own name and behalf, to incur debt, and issue general4
obligation bonds under the authority of and subject to the provisions of Article5
VI, Section 33 of the Constitution of Louisiana, and Subpart A of Part III of6
Chapter 4 of Subtitle II of Title 39 of the Louisiana Revised Statutes of 1950, for7
the establishment, operation, and maintenance of district property as an8
industrial park or to carry out the other public purposes of this Part, without9
election, to issue revenue bonds, borrow money, and issue certificates of10
indebtedness, notes, and other debt obligations as evidence thereof and provide11
for the manner and method of repayment.12
(9) To require and issue licenses, to regulate the imposition of fees and13
rentals charged by the district for services rendered by it or fees or rentals14
charged for use of privately-owned facilities located on district property when15
such facilities are offered for use by the public or by a private industrial,16
commercial, research, or other economic development entity or activity.17
(10)(8) To cooperate and contract with the government of the United States18
or any department or agency thereof and with the state of Louisiana or any19
department or agency thereof and to accept gifts, grants, and donations of property20
and money therefrom. To develop, activate, construct, exchange, acquire,21
expropriate, improve, repair, operate, maintain, lease, mortgage, sell, subject22
to the provision of this Part, and pledge movable and immovable property,23
servitudes, facilities, and works under such terms and conditions as the district24
may deem necessary or appropriate for any public purpose, including industrial25
and commercial development, notwithstanding the limitations of R.S. 2:131.126
and 135.1, Chapter 4 of Title 2, Chapter 13 of Title 33, and Chapter 10 of Title27
41, of the Louisiana Revised Statutes of 1950.28
(11)(9) To cooperate with the state or any other political subdivision,29
department, agency, or corporation of the state for the construction, operation, and30 SB NO. 761 ENROLLED
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maintenance of projects and facilities designed to accomplish the purpose or1
purposes for which the district is created on any basis including the matching of2
funds and by participating in projects authorized by any federal or state law as it3
shall see fit. To make bylaws for the management and regulation of its affairs.4
(12)(10) To pledge all or any part of its revenues. To cooperate and contract5
with the government of the United States of America or any department or agency6
thereof and with the state of Louisiana or any department or agency thereof and to7
accept gifts, grants, and donations of property and money therefrom.8
(13)(11) To issue, or secure the issuance of, refunding bonds to refund any9
outstanding bonds issued pursuant to this Section. Such refunding bonds may be10
exchanged for the outstanding bonds or may be sold and the proceeds applied to the11
purchase, redemption, or payment of the outstanding bonds or deposited in escrow12
for the retirement of such bonds. The refunding bonds shall be authorized in all13
respects as original bonds are herein required to be authorized, and the district, in14
authorizing the refunding bonds, shall provide for the security of the bonds, the15
sources from which the bonds are to be paid and for the rights of the holders thereof16
in all respects as herein provided for other bonds issued under the authority of this17
Part. The district may also provide that the refunding bonds shall have the same18
priority of lien on the taxes, income, and revenues pledged for their payment as was19
enjoyed by the bonds refunded. To cooperate with the state or any other political20
subdivision, department, agency, or corporation of the state for the21
construction, operation, and maintenance of projects and facilities designed to22
accomplish the purpose or purposes for which the district is created on any23
basis including the matching of funds and by participating in projects24
authorized by any federal or state law as it shall see fit.25
(14)(12) To appoint officers, agents, and employees; to prescribe their duties26
and to fix their compensation which shall be payable out of district funds. To27
borrow money and pledge all or part of its revenues, leases, rents, and other28
advantages as security for such loans.29
(15) To incur debt for any one or more of its lawful purposes set forth in30 SB NO. 761 ENROLLED
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words in boldface type and underscored are additions.
this Section herein, to issue in its name negotiable bonds, notes, certificates of1
indebtedness, or other evidences of debt and to provide for the security and2
payment thereof.3
(16) To issue, or secure the issuance of, refunding bonds to refund any4
outstanding bonds issued pursuant to this Section. Such refunding bonds may5
be exchanged for the outstanding bonds or may be sold and the proceeds6
applied to the purchase, redemption, or payment of the outstanding bonds or7
deposited in escrow for the retirement of such bonds. The refunding bonds shall8
be authorized in all respects as original bonds are herein required to be9
authorized, and the district, in authorizing the refunding bonds, shall provide10
for the security of the bonds, the sources from which the bonds are to be paid11
and for the rights of the holders thereof in all respects as herein provided for12
other bonds issued under the authority of this Part. The district may also13
provide that the refunding bonds shall have the same priority of lien on the14
taxes, income, and revenues pledged for their payment as was enjoyed by the15
bonds refunded.16
(17) To borrow the amount of the anticipated ad valorem tax the district17
is authorized to levy hereunder, not to exceed ten mills, for a period not to18
exceed twenty years and may issue certificates of indebtedness therefor and may19
dedicate the avails of the tax for the payment thereof for the period of time said20
certificates are outstanding.21
(18) To appoint officers, agents, and employees and to prescribe their22
duties and to fix their compensation which shall be payable out of district funds.23
(19)(13) To recommend to the mayor and the council a program of projects24
within the district to be financed by special liens against the properties improved by25
the program.26
(20) To use or allow the use of any facilities, land, and improvements27
within the district or owned or leased by the district for any lawful purpose.28
(21) The board of commissioners of the district shall be the appropriate29
governing body for all purposes provided in the Louisiana Enterprise Zone Act,30 SB NO. 761 ENROLLED
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R.S. 51:1781, et seq., within the area comprised of property owned and formerly1
owned by the district, and shall have the power to perform all acts specified by2
applicable laws and regulations to achieve such purpose.3
(14) (22) To report to the mayor and the council, at least quarterly, on the4
problems within the district and progress made in amelioration of the problems.5
* * *6
§4706. Use of district funds; change in level of services7
A. Except as provided in Subsection B of this Section; funds Funds received8
by the board of commissioners of the district from taxes levied, bonds issued, or any9
other source or combination of sources, shall only be used only for the benefit of the10
district or for projects or services within the district.11
B. In the event that the level of services is increased or decreased for the city,12
the increase or decrease shall not discriminate against, or cause a disadvantage to the13
special municipal district created hereby. Nor shall there be any diversion by the city14
of its municipal funds from any part or section thereof because of its inclusion in or15
exclusion from the special municipal district, designated as the "New Orleans16
Regional Business Park."17
C. For a period of thirty days from the date of publication of any18
resolution or ordinance authorizing the issuance of any bonds, certificates of19
indebtedness, notes, or other evidence of debt of the district, any interested20
person may contest the legality of such resolution or ordinance and the validity21
of such bonds, certificates of indebtedness, notes, or other evidence of debt22
issued or proposed to be issued thereunder and the security of their payment,23
after which time no one shall have any cause of action to contest the legality of24
such resolution or ordinance or to draw in question the legality of such bonds,25
certificates of indebtedness, notes, or other evidence of debt, the security26
therefor, or the debts represented thereby for any cause whatsoever, and it shall27
be conclusively presumed that every legal requirement has been complied with,28
and no court shall have authority to inquire into such matters after the lapse of29
thirty days.30 SB NO. 761 ENROLLED
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D. The issuance and sale of such bonds, certificates of indebtedness,1
notes, or other evidence of debt by the district shall be subject to approval by2
the State Bond Commission.3
Section 2. R.S. 33:4702(H),(I) and (J) are hereby repealed.4
Section 3. This Act shall become effective upon signature by the governor or, if not5
signed by the governor, upon expiration of the time for bills to become law without signature6
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If7
vetoed by the governor and subsequently approved by the legislature, this Act shall become8
effective on the day following such approval.9
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: