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Regular Session, 2014 ENROLLED
SENATE BILL NO. 64
BY SENATOR CORTEZ
AN ACT1
To amend and reenact R.S. 2:604(6) and (7) and the introductory paragraph of 604.1(A)(1),2
(2), (4) and (B) and to enact R.S. 2:604.2, relative to airport authorities; to expand3
the 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 the introductory paragraph of 604.1(A)(1), (2),8
(4) 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 shall have all the powers necessary or convenient to carry12
out the purposes of this Chapter (excluding the power to levy and collect taxes or13
special assessments) including but not limited to, the power following powers:14
* * *15
(6) Subject to the approval of the State Bond and Tax Board Commission,16
the authority may to make, in any year, contracts dedicating in whole or in part the17
excess of annual revenues of subsequent years above statutory, necessary, and usual18
charges. No such contract will shall have any longer term fixed for payment than ten19
years from the date of the contract. No dedication of future revenues will shall be20
made which, alone or with other prior dedications in force, exceeds the estimated21
excess of revenues over the statutory, necessary, and usual charges of the year in22
which the contract is made. This Section will shall not be construed to prohibit an23
authority from providing by ordinance or resolution for the expenditure of funds24
ACT No. 595 SB NO. 64 ENROLLED
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derived from miscellaneous or contingent sources actually collected, subject to the1
dedication of such funds established by law.2
(7) In addition to the authority granted in Paragraph 6 hereof (6) of this3
Section, and subject to the approval of the State Bond Commission and the Lafayette4
Parish Police Jury City-Parish Council, the Lafayette Airport Commission may5
issue bonds or other debt obligations to construct, acquire, extend, or improve any6
revenue-producing work of public improvements. The bonds or other debt7
obligations may be secured by the pledge of the income and revenues of such public8
work or work of public improvement and no such bonds or other debt obligations9
will shall have any longer term fixed for payment than twenty-five years. Any10
bonds or other debt obligations issued under this subpart will shall not be a charge11
upon any other income or other revenues of the Lafayette Airport Commission.12
* * *13
§604.1. Lafayette Airport Commission14
A. Project Revenue Bonds.15
(1) Subject to approval of the Lafayette City-Parish Council and the State16
Bond Commission, the Lafayette Airport Commission, is hereby authorized to issue17
revenue bonds in the manner provided for a municipal corporation or municipality18
under the terms and provisions of R.S. 39:1011 et seq. for the purpose of financing19
all or any portion of the costs of an airport-related improvement projects or facilities20
located on property that is or will become part of the Lafayette Regional Airport.21
Such projects or facilities shall include but shall not be limited to:22
* * *23
(2) Such revenue bonds shall be issued in the name of the commission and24
shall not be general obligations secured by the full faith and credit of the25
commission, the Lafayette City-Parish Council, nor the state of Louisiana, but shall26
be limited obligations of the commission contemplated by Article 6, Section 37 of27
the Constitution of Louisiana. The principal, interest, and redemption premiums on28
the revenue bonds, if any, shall be payable solely from the income and revenue29
derived from the sale, lease, or other disposition of the project or facility so financed.30 SB NO. 64 ENROLLED
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* * *1
(4) In all other respects, the commission is authorized and empowered to2
issue its revenue bonds to finance projects or facilities as described in this Section3
under the authority contained in R.S. 39:1011 et seq., and the commission may4
contract with respect to such projects or facilities as herein provided. The5
commission may issue revenue refunding bonds in the manner provided by R.S.6
39:1011 et seq., and such refunding bonds may be issued for the purpose of7
refunding any debt obligations issued by the commission only if approved by the8
Lafayette City-Parish Council and the State Bond Commission.9
B. System Revenue Bonds. Subject to the approval of the State Bond10
Commission and the Lafayette City-Parish Council, the Lafayette Airport11
Commission may issue revenue bonds under the manner, terms, and conditions set12
out in R.S. 39:1011 et seq., and said commission may also issue revenue bonds in13
accordance therewith for the purpose of refunding any outstanding bonds or other14
debt obligations of the commission.15
§604.2. Lafayette Airport Commission; additional economic development16
functions17
A. In addition to any other powers and functions, the commission may18
perform the functions of an economic and industrial development entity. Such19
functions may include but shall not be limited to the following:20
(1) Public relations, advertising, marketing, and providing and21
disseminating information.22
(2) Government relations, ombudsman, and government liaison.23
(3) Financial and financing assistance.24
(4) Tax abatement.25
(5) Planning and coordination for economic development and resource26
utilization, including such functions as industrial and economic research and27
industrial programming and solicitation.28
(6) Industrial training, technical assistance, and technology transfer.29
(7) The use of public and other legal powers to facilitate development.30 SB NO. 64 ENROLLED
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(8) Promoting transfer mechanisms to take ideas from their point of1
origin and development to commercially successful utilization by local2
enterprises.3
(9) Fostering entrepreneurial activity for the Lafayette Regional Airport.4
(10) Promoting the development of new products, processes, or services5
or new uses for existing products, processes, or services manufactured or6
marketed for the Lafayette Regional Airport.7
(11) Supporting market research aimed at identifying new markets for8
local or regional products and processes, including international markets;9
determining the characteristics, needs and preferences of those markets; and10
developing new marketing techniques to exploit those markets.11
(12) Fostering and supporting economic and industrial development and12
education in cooperation with private business enterprises, financial13
institutions, educational institutions, nonprofit institutions and organizations,14
state government and political subdivisions of the state, the federal government,15
and other organizations or persons concerned with research, development,16
education, commercial application, and economic or industrial development in17
ways which increase the economic base of the Lafayette Regional Airport.18
B. For the purposes enumerated in Subsection A of this Section, the19
commission may engage in whatever activities and projects it deems most20
appropriate to encourage and assist economic growth and development in21
accordance with and pursuant to the provisions of this Chapter, including but22
not limited to the following:23
(1) To plan, acquire, construct, improve, maintain, equip, operate,24
regulate and protect economic development facilities, including the acquisition,25
maintenance and operation of buildings and other facilities, and the purchase26
of and sale of supplies, goods, and commodities as an incident to the operation27
of its properties. For such purposes an authority may, by purchase, gift, devise,28
or lease, acquire property, movable or immovable, or any interest therein,29
including easements in land outside the boundaries of such facility site.30 SB NO. 64 ENROLLED
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(2) To establish or acquire and maintain economic development facilities1
in, over, and upon any public waters of this state, any submerged lands under2
such public water; and to construct and maintain buildings, landing floats,3
causeways, roadways, and bridges for approaches to or connecting with any4
such facilities, and landing floats and breakwaters for the protection thereof.5
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: