§323.1. Additional powers of the board; industrial development

A. The board shall have authority to construct and acquire industrial parks and industrial plant buildings within the district, including sites and other necessary property or appurtenances therefor, and to acquire, construct, improve, operate, maintain, and provide improvements and services necessary therefor, including but not limited to roads, street lighting, bridges, rail facilities, drainage, sewers, sewerage disposal facilities, solid waste disposal facilities, waterworks, and other utilities and related properties. The board shall also have the authority to sell, lease, or otherwise dispose of, by suitable and appropriate contract, to any enterprise locating or existing within the district, all or any part of an industrial plant site, industrial plant building, or other property owned by the district. In determining the consideration for any contract to lease, sell, or otherwise dispose of lands, buildings, or other property of the district, the board may take into consideration the value of the lands, buildings, or other properties involved as well as the potential value of the economic impact of the industrial or business enterprise being induced to locate or expand within the district. Such economic impact shall include increased employment, use of local labor, wages, and salaries to be paid, consumption of local materials, products, and resources, and special tax revenues to be generated by the industrial or business enterprise acquiring or leasing lands, buildings, or other property from the district.

B. The district may provide access by public road to any and all entrances to the premises of each and every plant in the area employed for industrial purposes, for use by employees of such industry or for use by employees of independent contractors working on such premises, or for delivery of materials or supplies, other than by rail or water transportation, to such premises.

C. Notwithstanding any other laws to the contrary and in addition to R.S. 34:331, the board shall have full power and authority to levy an ad valorem tax, not to exceed seven mills, on all taxable property within the district, provided that the board has received prior approval for the levy of the millage by a majority vote of the qualified electors within the district voting at an election called by the district for that purpose and conducted in accordance with applicable election laws.

D.(1) The board shall also have the full power and authority to issue obligations and to provide funds for the furtherance and accomplishment of any authorized public function. For purposes of this Part, "authorized public function" shall mean and include but not be limited to:

(a) Transportation and parking services, equipment, and facilities.

(b) Cultural and civic facilities, services, and activities.

(c) Community development and redevelopment facilities and activities.

(d) Gas, electric, petroleum, coal, and other energy collection, recovery, generation, storage, transportation, and distribution facilities and activities.

(e) Industrial, manufacturing, and other economic development facilities and activities.

(f) Antipollution and air, water, ground, and subsurface pollution abatement and control facilities and activities.

(g) Airport and waterport and related facilities, services, and activities.

(h) Facilities, property, and equipment of any nature for the use or occupancy of the state or the United States, or any agencies or instrumentalities thereof, or of any governmental units in the state.

(2) The board is authorized to issue obligations to accomplish any of the foregoing authorized public functions or purposes and shall have the following powers, together with all powers incidental thereto or necessary for the performance of those powers:

(a) To acquire, whether by purchase, exchange, expropriation, gift, lease, or otherwise, and to construct, improve, maintain, equip, and furnish one or more projects that qualify as authorized public functions, including all real and personal properties which the board may deem necessary in connection therewith and whether or not any such project shall then be in existence.

(b) To lease or contract any or all of its authorized projects for the use of others; to charge and collect rent and fees therefor; and to terminate any such lease or contractual arrangement upon the failure of the lessee to comply with any of the obligations thereof.

(c) To sell, exchange, donate, and convey any or all of its projects upon such terms and conditions as the board may deem advisable, including the power to receive for any such sale the note or notes of the purchaser of a project whenever the board finds any such action to be in furtherance of the purposes for which the district was organized.

(d) As security for the payment of the principal and interest on any bonds so issued, and any agreements made in connection therewith, to mortgage and pledge any or all of its projects or any part or parts thereof, whether then owned or thereafter acquired, and to pledge the revenues and receipts therefrom or from any source thereof.

E.(1) The board shall have authority to enter into any cooperative endeavor.

(2)(a) "Cooperative endeavor" means any form of economic development assistance between or among the district and the state, any local governmental subdivisions, political corporations, or public benefit corporations, the United States or its agencies, or any public or private association, corporation, or individual. The term "cooperative endeavor" shall include but not be limited to cooperative financing, cooperative development, or any other form of cooperative economic development activity.

(b) "Cooperative financing" means any method of financing and economic development between or among the district and the state, any of its local governmental subdivisions, political corporations, or public benefit corporations, the United States or its agencies, or any public or private association, corporation, or individual. Such methods of financing shall include loans, loan guarantees, land write-downs, grants, lease guarantees, or any form of financial subsidy or incentive.

(c) "Cooperative development" means any method of cooperative development between or among the district and the state, any of its local governmental subdivisions, political corporations, or public benefit corporations, the United States or its agencies, or any public or private association, corporation, or individual. Such methods of cooperative development shall include but not be limited to any number of joint development agreements such as condominiums, cooperative ownership limited partnerships, and investment syndicates.

F. The board is also authorized to do the following to implement the provisions of this Part:

(1) To apply for, receive, and accept any grants, loans, or advances from the state, any political subdivision of the state, any federal agency, and any public or private source for any economic development cooperative endeavor or project, to give and accept such equity or security as may be required for such grants, loans, or advances, and to enter into and carry out a contract or contracts of agreement in connection with such grants, loans, or advances, provided that public notice is given prior to such action.

(2) To procure insurance against any losses in connection with its property in such amounts and from such insurers as may be necessary and desirable.

(3) To sponsor and conduct conferences and studies, to collect and disseminate information, and to issue periodic reports.

(4) To assist local and regional businesses in applying for federal research grants and state or federal procurement contracts including dissemination of information on the availability of such grants and contracts.

(5) To collect and disseminate information on financial, technical, marketing, management, and other services available to local and regional businesses on a free or for-hire basis from universities, private for profit businesses, and nonprofit organizations, or to provide for such services itself or in cooperation with public or private persons.

(6) To receive, loan, or expend seed capital or venture capital.

Acts 1999, No. 1152, §1.