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ACT No. 205
Regular Session, 2011
HOUSE BILL NO. 619
BY REPRESENTATIVES LEGER AND BISHOP
AN ACT1
To enact Subpart B-46 of Part IV of Chapter 1 of Title 33 of the Louisiana Revised Statutes2
of 1950, to be comprised of R.S. 33:130.841 through 130.848, relative to economic3
and community development in Orleans Parish; to create the Louisiana Sports and4
Entertainment District as a political subdivision of the state; to provide for the5
boundaries and governance of the district; to provide for the board of commissioners6
and its authority, powers, duties, and functions; to provide for the imposition of fees7
on the use or occupancy of properties in the district; to provide for the authority to8
create subdistricts within the district; to authorize the district to issue and sell bonds9
and other debt obligations and to finance debt by the pledge of tax increments; and10
to provide for related matters.11
Notice of intention to introduce this Act has been published12
as provided by Article III, Section 13 of the Constitution of13
Louisiana.14
Be it enacted by the Legislature of Louisiana:15
Section 1. Subpart B-46 of Part IV of Chapter 1 of Title 33 of the Louisiana Revised16
Statutes of 1950, comprised of R.S. 33:130.841 through 130.848, is hereby enacted to read17
as follows:18
SUBPART B-46. LOUISIANA SPORTS AND ENTERTAINMENT DISTRICT19
§130.841. Title20
The provisions of this Subpart shall hereafter be known as and may be cited21
as the "Louisiana Sports and Entertainment District Act".22
§130.842. Louisiana Sports and Entertainment District; creation; territorial23
jurisdiction24
A. The Louisiana Sports and Entertainment District, a body politic and25
corporate, referred to in this Subpart as the "district", is hereby created in the city of26 ENROLLEDHB NO. 619
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New Orleans, referred to in this Subpart as the "city". The district shall be1
comprised of all the property bounded by Poydras Street, Loyola Avenue, Girod2
Street, South Liberty Street, Julia Street, Le Rouge Street, Howard Avenue, and3
South Claiborne Avenue, referred to in this Subpart as the "property".4
B. The district shall be a political subdivision of the state as defined in5
Article VI, Section 44 of the Constitution of Louisiana. Pursuant to Article VI,6
Sections 19 and 21 of the Constitution of Louisiana, the district is hereby granted all7
of the rights, powers, privileges, and immunities accorded by law and the8
Constitution of Louisiana to political subdivisions of the state, subject to the9
limitations provided in this Subpart.10
§130.843. Purpose11
The district is created to provide for cooperative economic and community12
development among the district, the city, the state, and the owners of property in the13
district, to enhance the development of and improvement to the property within the14
area of the district, and to expand the entertainment and leisure activities within the15
district.16
§130.844. Governance17
A. In order to provide for the orderly development of the district and effect18
the purposes of the district, the district shall be administered and governed by a19
board of commissioners, referred to in this Subpart as the "board", composed of20
those members duly appointed to and serving on the Board of Commissioners of the21
Louisiana Stadium and Exposition District.22
B. The members of the board shall serve without salary or per diem. The23
board may reimburse any member for reasonable, actual, and necessary expenses24
incurred in the performance of his duties pursuant to this Subpart.25
C. The board shall elect from among its members a president, a vice26
president, a secretary, and a treasurer, whose duties shall be those usual to such27
offices. At the option of the board, the offices of secretary and treasurer may be held28
by one person.29 ENROLLEDHB NO. 619
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D. The board shall meet in regular session once each month and shall also1
meet in special session as often as the president of the board convenes the board or2
upon the written request of three members. A majority of the members of the board3
shall constitute a quorum for the transaction of business. All such meetings shall be4
public meetings subject to the provisions of R.S. 42:14. The board shall keep5
minutes of all meetings and shall make them available for inspection through the6
board's secretary or secretary-treasurer, who shall also maintain the minute books7
and archives of the district. The monies, funds, and accounts of the district shall be8
in the official custody of the board.9
E. The domicile of the board shall be established by the board at a location10
within the district. The official journal of the district shall be the official journal of11
the Louisiana Stadium and Exposition District.12
§130.845. Rights and powers13
The district, acting by and through its board, shall have and exercise all14
powers of a political subdivision necessary or convenient for the carrying out of its15
objects and purposes, including but not limited to the following in addition to the16
other rights and powers set out in this Subpart:17
(1) To sue and be sued.18
(2) To adopt, use, and alter at will a corporate seal.19
(3) To acquire by gift, grant, purchase, or otherwise all property, including20
rights-of-way; to hold and use any franchise or property, real, personal, or mixed,21
tangible or intangible, or any interest therein, necessary or desirable for carrying out22
the objects and purposes of the district.23
(4) To enter into contracts for the purchase, lease, acquisition, construction,24
and improvement of works and facilities necessary in connection with the purposes25
of the district and to mortgage its properties and enter into leases and other26
agreements on terms the board approves.27
(5) To require and issue licenses with respect to properties and facilities28
owned by the district.29 ENROLLEDHB NO. 619
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(6) To regulate the imposition of fees and rentals charged by the district for1
facilities owned and services rendered by it and to impose fees on the use or2
occupancy of any other property within but not owned by the district with the3
consent of the owner of such property.4
(7) To appoint officers, agents, and employees, prescribe their duties, and fix5
their compensation.6
(8) To enter into cooperative endeavor agreements with any other party,7
public or private, to accomplish the purposes of this Subpart.8
(9) To exercise any and all of the powers granted to an economic9
development district as if the district were an economic development district10
established pursuant to Part II of Chapter 27 of Title 33 of the Louisiana Revised11
Statutes of 1950, including but not limited to the powers of tax increment financing12
pursuant to R.S. 33:9038.33 and 9038.34 but excluding the power to levy taxes13
within the district pursuant to R.S. 33:9038.39, provided that any such powers14
exercised by the district shall be subject to the provisions of Part II of Chapter 27 of15
Title 33 of the Louisiana Revised Statutes of 1950.16
§130.846. Creation of subdistricts17
The district may create subdistricts as provided in this Section. The district18
shall publish notice of its intent to create a subdistrict in the official journal of the19
district. At least ten days after publication of such notice in the official journal of the20
district, the board shall conduct a public hearing on the question of creating such21
subdistrict. Thereafter, the board may designate one or more areas within the22
boundaries of the district as a subdistrict of the district. Each subdistrict shall23
constitute a political subdivision of the state and shall be governed by the board.24
Each subdistrict shall have the same powers as the district and shall be given a name25
and designated as "Louisiana Sports and Entertainment District Subdistrict No. ___"26
or such other suitable name as the board may designate.27
§130.847. Bonds of the district28
A. The district, or any subdistrict created by the district, is hereby authorized29
and empowered to issue and sell from time to time bonds, notes, renewal notes,30 ENROLLEDHB NO. 619
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refunding bonds, interim certificates, certificates of indebtedness, certificates of1
participation, debentures, warrants, commercial paper, or other obligations or2
evidences of indebtedness to provide funds for and to fulfill and achieve its public3
purpose or corporate purposes, as set forth in this Subpart, including but not limited4
to the payment of all or a portion of the costs of a project, to provide amounts5
necessary for any corporate purposes, including necessary and incidental expenses6
in connection with the issuance of the obligations, the payment of principal and7
interest on the obligations of the district, the establishment of reserves to secure such8
obligations, and all other purposes and expenditures of the district incident to and9
necessary or convenient to carry out its public functions or corporate purposes, and10
any credit enhancement for such obligations.11
B. Except as may otherwise be provided by the board, all obligations issued12
by the district, or any subdistrict created by the district, shall be negotiable13
instruments and payable solely from the revenues of the district or subdistrict, as14
applicable, as determined by the board, or from any other sources whatsoever, that15
may be available to the district or subdistrict, as applicable, but shall not be secured16
by the full faith and credit of the state or the city.17
C. Obligations shall be authorized, issued, and sold by a resolution or18
resolutions of the board. Such bonds or obligations may be of such series, bear such19
date or dates, mature at such time or times, bear interest at such rate or rates,20
including variable, adjustable, or zero interest rates, be payable at such time or times,21
be in such denominations and in such form, carry such registration and22
exchangeability privileges, be payable at such place or places, be subject to such23
terms of redemption, and be entitled to such priorities on the income, revenue, and24
receipts of, or available to, the district or subdistrict, as applicable, as may be25
provided by the board in the resolution or resolutions providing for the issuance and26
sale of the bonds or obligations of the district.27
D. The obligations of the district, or any subdistrict created by the district,28
shall be signed by such officers of the board by either manual or facsimile signatures29 ENROLLEDHB NO. 619
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as shall be determined by resolution or resolutions of the board, and shall have1
impressed or imprinted thereon the seal of the district, or a facsimile thereof.2
E. Any obligations of the district, or any subdistrict created by the district,3
may be validly issued, sold, and delivered, notwithstanding that one or more of the4
officers of the board signing such obligations, or whose facsimile signature or5
signatures may be on the obligations, shall have ceased to be such officer of the6
board at the time such obligations shall actually have been delivered.7
F. Obligations of the district, or any subdistrict created by the district, may8
be sold at such price or prices, at public or private negotiated sale, in such manner9
and from time to time as may be determined by the district to be most beneficial,10
subject to approval of the State Bond Commission, and the district may pay all11
expenses, premiums, fees, or commissions, which it may deem necessary or12
advantageous in connection with the issuance and sale thereof.13
G. The board may authorize the establishment of a fund or funds for the14
creation of a debt service reserve, a renewal and replacement reserve, or such other15
funds or reserves as the board may approve with respect to the financing and16
operation of any project funded with the proceeds of such bonds and as may be17
authorized by any bond resolution, trust agreement, indenture of trust, or similar18
instrument or agreement pursuant to the provisions of which the issuance of bonds19
or other obligations of the district or subdistrict may be authorized.20
H. Any cost, obligation, or expense incurred for any of the purposes or21
powers of the district specified in this Subpart shall be a part of the project costs and22
may be paid or reimbursed as such out of the proceeds of bonds or other obligations23
issued by the district or subdistrict.24
I. For a period of thirty days from the date of publication of the resolution25
authorizing the issuance of bonds hereunder, any persons in interest shall have the26
right to contest the legality of the resolution and the legality of the bond issue for any27
cause, after which time no one shall have any cause or right of action to contest the28
legality of such resolution or of the bonds authorized thereby for any cause29
whatsoever. If no suit, action, or proceeding is begun contesting the validity of the30 ENROLLEDHB NO. 619
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bond issue within the thirty days prescribed in this Subsection, the authority to issue1
the bonds and to provide for the payment thereof, and the legality thereof and all of2
the provisions of the resolution authorizing the issuance of the bonds shall be3
conclusively presumed, and no court shall have authority to inquire into such4
matters.5
J. Neither the members of the board nor any person executing the bonds shall6
be personally liable for the bonds or be subject to any personal liability by reason of7
the issuance thereof; however, the limitation of liability provided for in this8
Subsection shall not apply to any gross negligence or criminal negligence on the part9
of any member of the board or person executing the bonds.10
K. All obligations authorized to be issued by the district, or any subdistrict11
created by the district, pursuant to the provisions of this Subpart, together with12
interest thereof, income therefrom, and gain upon the sale thereof shall be exempt13
from all state and local taxes.14
L. The state and all public officers, any parish, municipality, or other15
subdivision or instrumentality of the state, any political subdivision, any bank,16
banker, trust company, savings bank and institution, building and loan association,17
savings and loan association, investment company or any person carrying on a18
banking or investment business, any insurance company or business, insurance19
association, and any person carrying on an insurance business, and any executor,20
administrator, curator, trustee, and other fiduciary, and any retirement system or21
pension fund may legally invest any funds belonging to it or within its control in any22
bonds or other obligations issued by the district, or any subdistrict created by the23
district, pursuant to the provisions of this Subpart, and such bonds or other24
obligations shall be authorized security for all public deposits. It is the purpose of25
this Subsection to authorize such persons, firms, corporations, associations, political26
subdivisions and officers, or other entities, public or private, to use any funds owned27
or controlled by them, including but not limited to sinking, insurance, investment,28
retirement, compensation, pension and trust funds, and funds held on deposit, for the29
purchase of any such bonds or other obligations of the district or subdistrict, and that30 ENROLLEDHB NO. 619
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any such bonds shall be authorized security for all public deposits; however, nothing1
contained in this Subsection with regard to legal investments or security for public2
deposits shall be construed as relieving any such person, firm, corporation, or other3
entity from any duty of exercising reasonable care in selecting securities.4
§130.848. Liberal construction5
This Subpart, being necessary for the welfare of the state, the city, and their6
residents, shall be liberally construed to effect the purposes thereof.7
Section 2. This Act shall become effective upon signature by the governor or, if not8
signed by the governor, upon expiration of the time for bills to become law without signature9
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If10
vetoed by the governor and subsequently approved by the legislature, this Act shall become11
effective on the day following such approval.12
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: