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Regular Session, 2014
SENATE BILL NO. 64
BY SENATOR CORTEZ
AIRCRAFT/AVIATION. Expands powers of Lafayette Airport Commission to include
economic development purposes. (8/1/14)
AN ACT1
To amend and reenact R.S. 2:604(6) and (7) and 604.1(A)(1)(introductory paragraph), (2),2
(4) and (B) and to enact R.S. 2:604.2, relative to airport authorities; to expand the3
powers of the Lafayette Airport Commission to include economic development4
purposes; and to provide for related matters.5
Notice of intention to introduce this Act has been published.6
Be it enacted by the Legislature of Louisiana:7
Section 1. R.S. 2:604(6) and (7) and 604.1(A)(1)(introductory paragraph), (2), (4)8
and (B) are hereby amended and reenacted and R.S. 2:604.2 is hereby enacted to read as9
follows: 10
§604. General powers of the authority11
An authority will have all the powers necessary or convenient to carry out the12
purposes of this Chapter (excluding the power to levy and collect taxes or special13
assessments) including but not limited to, the power14
* * *15
(6) Subject to the approval of the State Bond Commission and Tax Board,16
the authority may make, in any year, contracts dedicating in whole or in part the17 SB NO. 64
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excess of annual revenues of subsequent years above statutory, necessary, and usual1
charges. No such contract will have any longer term fixed for payment than ten years2
from the date of the contract. No dedication of future revenues will be made which,3
alone or with other prior dedications in force, exceeds the estimated excess of4
revenues over the statutory, necessary, and usual charges of the year in which the5
contract is made. This Section will not be construed to prohibit an authority from6
providing by ordinance or resolution for the expenditure of funds derived from7
miscellaneous or contingent sources actually collected, subject to the dedication of8
such funds established by law.9
(7) In addition to the authority granted in Paragraph 6 hereof, and subject to10
the approval of the State Bond Commission and the Lafayette City-Parish Council11
Parish Police Jury, the Lafayette Airport Commission may issue bonds or other debt12
obligations to construct, acquire, extend, or improve any revenue producing work of13
public improvements. The bonds or other debt obligations may be secured by the14
pledge of the income and revenues of such public work or work of public15
improvement and no such bonds or other debt obligations will have any longer term16
fixed for payment than twenty-five years. Any bonds or other debt obligations17
issued under this subpart will not be a charge upon any other income or other18
revenues of the Lafayette Airport Commission.19
* * *20
§604.1. Lafayette Airport Commission21
A. Project Revenue Bonds.22
(1) Subject to approval of the Lafayette City-Parish Council and the State23
Bond Commission, the Lafayette Airport Commission, is hereby authorized to issue24
revenue bonds in the manner provided for a municipal corporation or municipality25
under the terms and provisions of R.S. 39:1011 et seq. for the purpose of financing26
all or any portion of the costs of an airport related improvement projects or facilities27
located on property that is or will become part of the Lafayette Regional Airport.28
Such projects or facilities shall include but shall not be limited to:29 SB NO. 64
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* * *1
(2) Such revenue bonds shall be issued in the name of the commission and2
shall not be general obligations secured by the full faith and credit of the3
commission, the Lafayette City-Parish Council, nor the state of Louisiana, but shall4
be limited obligations of the commission contemplated by Article 6, Section 37 of5
the Constitution of Louisiana. The principal, interest, and redemption premiums on6
the revenue bonds, if any, shall be payable solely from the income and revenue7
derived from the sale, lease, or other disposition of the project or facility so financed.8
* * *9
(4) In all other respects, the commission is authorized and empowered to10
issue its revenue bonds to finance projects or facilities as described in this Section11
under the authority contained in R.S. 39:1011 et seq., and the commission may12
contract with respect to such projects or facilities as herein provided. The13
commission may issue revenue refunding bonds in the manner provided by R.S.14
39:1011 et seq., and such refunding bonds may be issued for the purpose of15
refunding any debt obligations issued by the commission only if approved by the16
Lafayette City-Parish Council and the State Bond Commission.17
B. System Revenue Bonds. Subject to the approval of the State Bond18
Commission and the Lafayette City-Parish Council, the Lafayette Airport19
Commission may issue revenue bonds under the manner, terms, and conditions set20
out in R.S. 39:1011 et seq., and said commission may also issue revenue bonds in21
accordance therewith for the purpose of refunding any outstanding bonds or other22
debt obligations of the commission.23
§604.2. Lafayette Airport Commission; additional economic development24
functions25
A. In addition to any other powers and functions, the commission may26
perform the functions of an economic and industrial development entity. Such27
functions may include but shall not be limited to the following:28
(1) Public relations, advertising, marketing, and providing and29 SB NO. 64
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disseminating information.1
(2) Government relations, ombudsman, and government liaison.2
(3) Financial and financing assistance.3
(4) Tax abatement.4
(5) Planning and coordination for economic development and resource5
utilization, including such functions as industrial and economic research and6
industrial programming and solicitation.7
(6) Industrial training, technical assistance, and technology transfer.8
(7) The use of public and other legal powers to facilitate development.9
(8) Promoting transfer mechanisms to take ideas from their point of10
origin and development to commercially successful utilization by local11
enterprises.12
(9) Fostering entrepreneurial activity for the Lafayette Regional Airport.13
(10) Promoting the development of new products, processes, or services14
or new uses for existing products, processes, or services manufactured or15
marketed for the Lafayette Regional Airport.16
(11) Supporting market research aimed at identifying new markets for17
local or regional products and processes, including international markets;18
determining the characteristics, needs and preferences of those markets; and19
developing new marketing techniques to exploit those markets.20
(12) Fostering and supporting economic and industrial development and21
education in cooperation with private business enterprises, financial22
institutions, educational institutions, nonprofit institutions and organizations,23
state government and political subdivisions of the state, the federal government,24
and other organizations or persons concerned with research, development,25
education, commercial application, and economic or industrial development in26
ways which increase the economic base of the Lafayette Regional Airport.27
B. For the purposes enumerated in Subsection A of this Section, the28
commission may engage in whatever activities and projects it deems most29 SB NO. 64
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appropriate to encourage and assist economic growth and development in1
accordance with and pursuant to the provisions of this Chapter, including but2
not limited to the following:3
(1) To plan, acquire, construct, improve, maintain, equip, operate,4
regulate and protect economic development facilities, including the acquisition,5
maintenance and operation of buildings and other facilities, and the purchase6
of and sale of supplies, goods, and commodities as an incident to the operation7
of its properties. For such purposes an authority may, by purchase, gift, devise,8
or lease, acquire property, real or personal, or any interest therein, including9
easements in land outside the boundaries of such facility site.10
(2) To establish or acquire and maintain economic development facilities11
in, over, and upon any public waters of this state, any submerged lands under12
such public water; and to construct and maintain buildings, landing floats,13
causeways, roadways, and bridges for approaches to or connecting with any14
such facilities, and landing floats and breakwaters for the protection thereof.15
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Sharon F. Lyles.
DIGEST
Cortez (SB 64)
Present law provides for the general powers of airport authorities and authorizes airport
authorities to make contracts for a fixed term of no longer than 10 years and to dedicate
excess future revenues above statutory, necessary, and usual charges subject to approval of
the State Bond and Tax Board.
Proposed law changes present law to State Bond Commission.
Present law authorizes the Lafayette Airport Commission to issue bonds or other debt
obligations to construct, acquire, extend, or improve any revenue producing work of public
improvements subject to approval of the State Bond Commission and the Lafayette Parish
Police Jury.
Proposed law changes present law to Lafayette City-Parish Council.
Proposed law authorizes the Lafayette Airport Commission to perform the functions of an
economic and industrial development entity which functions may include but shall not be
limited to the following:
(1)Public relations, advertising, marketing, and providing and disseminating
information. SB NO. 64
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(2)Government relations, ombudsman, and government liaison.
(3)Financial and financing assistance.
(4)Tax abatement.
(5)Planning and coordination for economic development and resource utilization,
including such functions as industrial and economic research and industrial
programming and solicitation.
(6)Industrial training, technical assistance, and technology transfer.
(7)The use of public and other legal powers to facilitate development.
(8)Promoting transfer mechanisms to take ideas from their point of origin and
development to commercially successful utilization by local enterprises.
(9)Fostering entrepreneurial activity for the Lafayette Regional Airport.
(10)Promoting the development of new products, processes, or services or new uses for
existing products, processes, or services manufactured or marketed for the Lafayette
Regional Airport.
(11)Supporting market research aimed at identifying new markets for local or regional
products and processes, including international markets; determining the
characteristics, needs and preferences of those markets; and developing new
marketing techniques to exploit those markets.
(12)Fostering and supporting economic and industrial development and education in
cooperation with private business enterprises, financial institutions, educational
institutions, nonprofit institutions and organizations, state government and political
subdivisions of the state, the federal government, and other organizations or persons
concerned with research, development, education, commercial application, and
economic or industrial development in ways which increase the economic base of the
Lafayette Regional Airport.
Proposed law provides that for such enumerated purposes, the Lafayette Airport Commission
may engage in whatever activities and projects it deems most appropriate to encourage and
assist economic growth and development, including but not limited to the following:
(1)To plan, acquire, construct, improve, maintain, equip, operate, regulate and protect
economic development facilities, including the acquisition, maintenance and
operation of buildings and other facilities, and the purchase of and sale of supplies,
goods, and commodities as an incident to the operation of its properties. For such
purposes an authority may, by purchase, gift, or lease, acquire property, real or
personal, or any interest therein, including easements in land outside the boundaries
of such facility site.
(2)To establish or acquire and maintain economic development facilities in, over, and
upon any public waters of this state, any submerged lands under such public water;
and to construct and maintain buildings, landing floats, causeways, roadways, and
bridges for approaches to or connecting with any such facilities, and landing floats
and breakwaters for the protection thereof.
Effective August 1, 2014.
(Amends R.S. 2:604(6) and (7) and 604.1(A)(1)(introductory paragraph), (2), (4) and (B);
adds R.S. 2:604.2)