SB 283 — SPECIAL DISTRICTS: Creates the BLVD at Harding Area Special District in the city of Baton Rouge. (gov sig)

The district shall dissolve and cease to exist one year after the Pagedate 6all bonds, notes, and other evidences of 9indebtedness Coding:of the district, including refunding bonds are paid in full as to both principal and interest;

however, under no event shall the district have an existence of less than three Page 6 of 19 Coding:

SLS 26RS-234 REENGROSSED SB NO.

283 dateENROLLED allyears. bonds, notes, and other evidences of indebtedness of the district, including refunding bonds are paid in full as to both principal and interest;

however, under no event shall the district have an existence of less than three years.

Liberal Construction.Construction.This Section,being necessaryfor thewelfareof the city of Baton Rouge and its residents, shall be liberally construed to effect the purposes thereof.

This§9038.83. Section,being necessaryforthewelfareof the city of Baton Rouge and its residents, shall be liberally construed to effect the purposes thereof.

SectionBaton 2.Rouge Community College Economic Development District A.

ThisThere Actis shallhereby becomecreated effectivein uponthe signatureparish bytheof governorEast or,Baton ifRouge, notin signedbythegovernor,uponexpirationofthetimeforbillstobecomelawwithoutsignaturewhich byBaton theRouge governor,Community asCollege, providedreferred byto Articlein III,this Section 18as of"the college", is located, the ConstitutionBaton Rouge Community College Economic Development District,referredtointhisSectionas"BRCCEDD".ThepurposeoftheBRCC EDD is to provide for cooperative economic and community development among the district, the college, the local governmental subdivision, the state, and the owners of Louisiana.property in the district.

IfAs vetoedused bythein governorthis andSection, subsequentlyapprovedbythethe legislature,terms this"college Acteconomic shalldevelopment becomedistrict" effectiveor on"district" refer to the dayfollowingBRCC suchEDD approval.created pursuant to this Section.

The originalcollege instrumenteconomic anddevelopment district is a political subdivision of the followingstate digest,having whichall constitutesof nothe partrights, powers, privileges, and immunities in accordance with the laws of this state and the legislativeConstitution instrument,of wereLouisiana, preparedsubject byto Senatethe Legislativelimitations Services.provided in this Section.

TheB.(1) keyword,Boundaries summary,for and digest do not constitute part of the lawBaton orRouge proofCommunity orCollege indiciaEconomic ofDevelopment legislativeDistrict. intent.

[R.S.The BRCC EDD generally encompasses an area within the city of Baton Rouge and the parish of East Baton Rouge, Louisiana generally bounded to the north by the south Right-of-Way of Florida Boulevard, to the east by the Fairfax Heights Subdivision, to the south by Government Street Corridor EDD (EBR Ordinance 45531) and to the west by Wards Creek subject to, and less and except, the exclusions as defined in the ("district exclusions"), and being more fully described as follows:

1:13(B)Commence at the point of intersection of the south Right-of-Way of Florida Boulevard and 24:177(E)]west DIGESTboundary SBof 283Lot Reengrossed43-B 2026of RegularHickey SessionTown Barrowsubdivision Presentlocated lawin (R.S.Section 81, Township 7 South, Range 1 East, Greensburg Land District, Louisiana;

33:9032)Thence provideseasterly thatalong taxsaid incrementRight-of-Way financingof ("TIF")Florida isBoulevard when a local governmental subdivision issues revenue bonds payable solely from tax increments, in an amount to be determined by the localPage governmental7 subdivision to finance or refinance an economic development project or any part thereof or to pay all or a portion of the19 costsCoding: of an economic development project as described in present law (R.S.

33:9035).

Present law (R.S.

33:9038.31) provides that "issuer" means the local governmental subdivision, economic development district, industrial development board of the municipalityorparishauthorizedandcreatedpursuanttopresentlaw,apublictrustwiththe municipality or parish as the beneficiary thereof as provided in present law, as authorized in present law, the Walnut Street Special District, any Tax Increment Development Corporationactivatedinamunicipalitywithapopulationofnotlessthan3,300andnotmore than 3,395 persons according to the most recent federal decennial census for the purposes providedforinpresentlaw(R.S.33:9038.68),oranydistrictcreatedpursuanttopresentlaw (R.S.

33:9038.70 or 9038.77).

Proposed law retains present law and includes the BLVD at Harding Special District in the definition of "issuer".

Present law (R.S.

33:9038.31) provides that "local governmental subdivision" means any municipalityorparishoranymunicipality,parish,localindustrialboard,alocalpublictrust authorized pursuant to present law (R.S.

33:9038.33(N) or 9038.34(N)) having jurisdiction over the geographical area bounded by the Mississippi River, the Orleans/Jefferson parish line and the Orleans/Plaquemines parish line, the Walnut Street Special District, any Tax IncrementDevelopmentCorporationactivatedinamunicipalitywithapopulationofnotless Page 7 of 9 Coding:

SLS 26RS-234 REENGROSSED SB NO.

283 thanENROLLED 3,300intersection andof notthe moreeast thanRight-of-Way 3,395of personsCommunity accordingCollege toDrive thebeing mostcommonwiththewesterlyboundaryofLotA-2-A-1oftheStephenB.Jones,Et recentAl federalTract decennial"A" censusforthepurposesprovidedforinpresentlaw(R.S.33:9038.68),oranydistrictcreatedlocated pursuantin toSection present82, lawTownship (R.S.7 South, Range 1 East, Greensburg Land District, Louisiana;

33:9038.70Thence orsoutherly 9038.77).along said Right-of-Way of Community College Drive to intersection of the south boundary of said Lot A-2-A-1;

FurtherThence provideseasterly thatand thenortherly provisionsalong ofthe presentsouth lawand shalleast notboundaries apply to any of thesaid financingLot ofA-2-A-1 construction,to renovations,the orintersection improvements of any convention center, hotel complex, and ancillary facilities within the citysouth Right-of-Way of Shreveport.Florida Boulevard;

PresentThence laweasterly appliesalong said Right-of-Way of Florida Boulevard to the parishintersection of Rapides,the onlyeast asboundary providedof inTract present3C lawof (R.S.the Stephen B.

33:9038.41).Jones, Et Al Tract "A" located in Section 82, Township 7 South, Range 1 East, Greensburg Land District, Louisiana;

ProposedThence lawsoutherly retainsalong presentthe laweast andboundaries includesof theTracts BLVD3C, at3B, Harding3A Specialand District2 inof the definitionStephen ofB. "local governmental subdivision".

ProposedJones, lawEt createsAl theTract BLVD"A" atlocated Harding Special District in theSection city82, ofTownship Baton7 RougeSouth, asRange a1 specialEast, districtGreensburg andLand politicalDistrict, subdivisionLouisiana of the state to provide for cooperative economic development between the district,intersection the city of Baton Rouge, and the ownersouth orboundary owners of businessessaid andTract other2 propertyof within the districtStephen inB. order to provide for costs related to infrastructurewithinthedistrictasdeterminedbytheboardofcommissionersofthedistrict.

ProposedJones, lawEt providesAl forTract the"A"; district's boundaries.

ProposedThence lawwesterly providesalong thatsaid theboundary districtof isTract to2 be administered by a board of commissionersthe asStephen follows:B.

(1)Jones, TheEt mayorAl ofTract "A" to the cityintersection of Batonthe Rouge,east orRight-of-Way hisof designee.Community College Drive;

(2)Thence Thesoutherly memberalong said Right-of-Way of Community College Drive to intersection of the La.north boundary of Tract B-V-A2-B of the Stephen B.

HouseJones, ofEt RepresentativesAl whoseTract district"B" encompasseslocated allin orSection the82, greaterTownship portion7 ofSouth, theRange area1 ofEast, theGreensburg districtLand shallDistrict, appointLouisiana; two persons.

(3)Thence Theeasterly, membersoutherly ofand westerly along the La.north, east and south boundaries of said TractB-V-A2-Bof theStephen B.

SenateJones, whoseEtAl districtTract"B" encompassesto all or the greaterintersection portion of theeast areaRight-of-Way of theCommunity districtCollege shallDrive; appoint two persons.

(4)Thence Thesoutherly memberalong ofsaid theRight-of-Way Baton Rouge Metropolitan Council whose district encompasses all or the greater portion of theCommunity areaCollege ofDrive theapproximately district558 shallfeet appointto onea person.point;

(5)Thence Anyturning personapproximately who88 isdegrees anto owner of property within the district,right orand ancontinue authorizedwesterly representativeacrossCommunityCollegeDrivetotheintersectionoftheeastboundaryofLot ofPage an8 entity which is an owner of propertywithin19 theCoding: district, if such person or authorized representative applies to the board for membership on the board, or that person's or representative's designee.

Proposed law provides that the members of the board serve without salaryor per diem and areentitled to reimbursement for reasonable,actual, and necessaryexpenses incurredin the performance of their duties.

Proposed law provides that the board must elect from its own members a president and secretary, whose duties shall be common to such offices or as may be provided by bylaws adopted by the district.

Provides that all meetings are public meetings subject to the provisionsofpresentlaw(R.S.42:11etseq.).Furtherprovidesthatthedomicileoftheboard must be established by the board at a location within the city of Baton Rouge.

Proposedlawprovidesthatthedistricthastherightsandpowerscommontospecialdistricts including to incur debt and issue bonds, notes, and other indebtedness in its own name and on its own behalf.

Present law authorizes entities defined as "local governmental subdivisions" to implement ad valorem tax and sales tax increment financing and to issue revenue bonds backed by a pledgeofthetaxincrementstofinancealloranypartofan"economicdevelopmentproject".

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283 PresentENROLLED lawD-1-A authorizesof "localthe governmentalJ. subdivisions" to enter into a joint venture or cooperativeendeavorforapublicpurposewithafederal,state,orlocalgovernmentalagency or with a private or public firm, partnership, corporation, or other entity.

PresentD. law authorizes the "local governmental subdivisions" to issue revenue bonds and other bonds and forms of indebtedness.

PresentGarig lawTract authorizeslocated local governmental subdivisions to levy an ad valorem tax of up to five mills and two percent of sales tax after the governing authority of the district gives notice and meets in openSection and82, publicTownship session7 toSouth, hearRange any1 objectionsEast, andGreensburg theLand favorableDistrict, voteLouisiana; of a majority of the electors of the district voting in an election.

ProposedlawprovidesthatthetaxincreasemaybeleviedonlyafterthegoverningauthorityThence ofcontinue thewesterlyalong districtsaid hasboundary called a special election submitting the proposition for the levy of suchLot taxesD-1-A to the qualifiedintersection electors of the districteast andboundary the proposition has received the favorable vote of a majority0.625 ofAcre theTract electorsof voting in the election;J.

however,D. in the event there are no qualified electors in the district as certified by the registrar of voters, no such election shall be required.

ProposedGarig lawTract defineslocated thein BLVDSection at82, HardingTownship Special7 DistrictSouth, asRange an1 issuerEast, andGreensburg aLand localDistrict, governmentalLouisiana; subdivision for purposes of utilizing such TIF authority in present law.

ProposedThence lawnortherly specificallygrantsalong tosaid theboundary districtof all0.625 theAcre adTract valorem, sales tax, and occupancy taxincrementfinanceandbondingauthority,andtheadvaloremandsalestaxlevyauthority granted to "local governmental subdivisions", and deems the projectintersection toof fund infrastructure within the districtnorth toboundary beof anLot "economicsaid development0.625 project"Acre withinLot; the meaning of the TIF laws.

ProposedThence lawwesterly providesalong that the districtnorth mayboundaries alsoof pledge0.625 anyAcre taxesTract, collected0.833 underAcre theTract,andLot10-AoftheJ.D.Garigand authorityLots of9-A,7-A,6,5,4and proposed1ofSquare law2 toof anyPiper economicPlace, developmentall projectbeing located in furtheranceSection of82, Township 7 South, Range 1 East, Greensburg Land District, Louisiana to the purposesintersection of the district.east Right-of-Way of South Foster Drive;

FurtherThence providessoutherly thatalong thesaid financingRight-of-Way mayof includeSouth butFoster shallDrive not be limited to loans, mortgages, the issuanceintersection of bonds, or the issuancenorth ofRight-of-Way certificates of indebtedness.Garig Avenue;

ProposedThence laweasterly providesalong thatsaid theRight-of-Way districtof mustGarig dissolveStreet and cease to exist one year after the dateintersection all indebtedness of the districteast isboundary paidof inLot full9-A asof toSquare both2 principal and interest, but under no event can the district have an existence of lessPiper thanPlace; three years.

ProposedThence lawturning providesapproximately that90 proposeddegrees lawto mustthe beright liberallyconstruedand continue southerly across Garig Street to effectthe itsintersection purposes.of the north boundary of Tract 8-A-1 of Square 1 of Piper Place located in Section 82, Township 7South, Range1 East, Greensburg Land District, Louisiana;

EffectiveThence uponcontinue signaturesoutherly along the east boundary of said Lot 8-A-1 approximately 160 feet to a point being the governorsouthwest orcorner lapseof Lot 11 of timeSquare for1 gubernatorialof action.Piper Place located in Section82,Township 7 South, Range 1 East, Greensburg Land District, Louisiana;

(AmendsThence R.S.turning approximately 90 degrees to the right and continue westerly across said Lot 8-A-1 approximately 200 feet to a point being the southeast corner of Lot 17 of Square 1 of Piper Place, located in Section 82, Township 7 South, Range 1 East, Greensburg Land District, Louisiana;

33:9038.31(2)Thence continue westerly along the south boundaries of Lots 17 and (3);21 of Page 9 of 19 Coding:

addsWords R.S.which are struck through are deletions from existing law;

33:9038.82)words Summaryin ofboldface Amendmentstype Adopted by Senate Committee Amendments Proposed by Senate Committee on Local and Municipalunderscored Affairsare toadditions. the original bill 1.

AddanadditionalSB memberNO. to theboardofcommissioners ofthedistrict who shall be appointed bythe member of the B.R.

Metro.283 ENROLLED Square1ofPiperPlace,locatedinSection82,Township 7South,Range1East, Greensburg Land District, Louisiana to the intersection of the east Right-of-Way of South Foster Drive;

CouncilThence whoseturning districtapproximately encompasses19 alldegrees orto the greaterleft portionand ofcontinue thewesterly areaacrossSouthFosterDrivetotheintersectionofthewestRight-of-WayofSouth ofFoster; the district.

SenateThence Floorcontinue Amendmentsnorthly along said Right-of-Way of South Foster to engrossedthe billintersection 1.of the south boundary of Lot A-2 of the former Second PresbyterianChurchPropertylocatedin Section82,Township 7South,Range 1 East, Greensburg Land District, Louisiana;

ProvidesThewesterlyandnortherlyalongthesouthandwestboundariesofsaidLotA-2 forthe former Second Presbyterian Church Property to the boundariesintersection of the BLVDsouth atboundary Hardingof SpecialLot District.A being a subdivision of 6.63 acre tract of the Piper EstatelocatedinSection82,Township7South,Range1East,GreensburgLand District, Louisiana;

2.Thence westerly along said boundary of Lot A to the intersection of the east boundary of Tract X-3 of the Millard Byrd Property located in Section 81, Township 7 South, Range 1 East, Greensburg Land District, Louisiana;

MakesThence technicalsoutherly changes.along the east boundaries of said Tract X-3 and Lot B-2-4 of the Baton Rouge Water Works Co Property located in Section 81, Township 7 South, Range 1 East, Greensburg Land District, Louisiana approximately 591 feet to a point being along the east servitude line of 75 foot wide Wards Creek servitude within said Lot B-2-4;

PageThencenortherlyalongsaidWardsCreekservitudelinethroughsaidLotB-2-4 9and Tract X-2 of 9the Coding:Millard Byrd Property located in Section 81, Township 7 South, Range 1 East, Greensburg Land District, Louisiana to the intersection of the south Right-of-Way of North Boulevard;

Thence continue northerly across North Boulevard and along the west boundaries of Square 40 and Lot 43-B of Hickey Town located in Section 81, Township 7 South, Range 1 East, Greensburg Land District, Louisiana to the Page 10 of 19 Coding:

Words which are struck through are deletions from existing law;

words in boldface type and underscored are additions.

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283 ENROLLED intersectionofthesouthRight-of-WayofFloridaBoulevard,allbeingcommon with the east servitude line of Wards Creek and being the point of beginning.

(2) District exclusions.

The following areas shall be excluded from the BRCC EDD:

Area 1 (Hickey Town Sq 40 & 41)Lot A-1 of a Resubdivision of Square 40 and Square 41 1 of Hickey Town located in Section 81, Township 7 South, Range 1 East, Greensburg Land District, Louisiana.

Area 2 (Convention Oaks)Lots 1 through 13 of Convention Oaks located in Section 82, Township 7 South, Range 1 East, Greensburg Land District, Louisiana.

Area 3 (Pecan Alley)Lot B being a subdivision of 6.63 acre tract of the Piper Estate and units A-1, A-2, A-3, B-1, B-2, B-3, C-1, C-2, D-1, D-2, E-1, E-2, E-3, F-1, F-2, F-3, G-1, G-2, G-3, H-1, H-2, I-1, I-2, J-1, J-2, J-3, J-4, J-5, K-1, K-2, L-1,L-2,M-1,M-2,N-1,N-2,N-3,N-4,N-5ofPecanAlleylocatedinSection82, Township 7 South, Range 1 East, Greensburg Land District, Louisiana.

(3)(a)Generalresidentialpropertyexclusion.Notwithstandinganything in this above property description to the contrary, whether specifically identified or not, no portion of the BRCC EDD shall include any tract of land that is used for residential purposes, except for hotels, motels, inns, or bed and breakfastsfortemporaryoccupancy,inanyformorfashion,including,without limitation,privateorpublichomes,residences,housing,dwellings,apartments, studios, flats, townhomes, condominiums, cooperatives, residential rooms, residential beds, dormitories, student residences and housing, student apartments,fraternityhouses, sorority houses, student residentialquarters,or other form of housing, as of the effective date of this Act individually and collectively "residential properties".

All residential properties are deemed districtexclusions.

Intheeventthatthedescriptionof theBRCCEDDsetforth aboveincludesanyofthedistrictexclusions,suchdistrictexclusionshallnotbe considered as a component of the BRCC EDD.

(b) Whether specifically identified or not, no portion of theBRCC EDD Page 11 of 19 Coding:

Words which are struck through are deletions from existing law;

words in boldface type and underscored are additions.

SB NO.

283 ENROLLED shall include the district exclusions which include any tract of land that is used for residential purposes, except for hotels, motels, inns, or bed and breakfasts fortemporaryoccupancy,inanyformorfashion,including,withoutlimitation, private or public homes, residences, housing, dwellings, apartments, studios, flats, townhomes, condominiums, cooperatives, residential rooms, residential beds, dormitories, student residences and housing, student apartments, fraternity houses, sorority houses, student residential quarters, or other form of housing, as of June 30, 2026, individually and collectively "residential properties".

All residential properties are deemed district exclusions.

In the event that the description of the BRCC EDD set forth in Subsection (B)(1) of this Section includes any of the district exclusions, the BRCC EDD exclusion shall not be considered as a component of the BRCC EDD.

(4) Notwithstanding anything to the contrary in the property descriptions provided in this Section, whether specifically identified or not, no portion of the BRCC EDD shall include any tract of land that is used for residential purposes, except for hotels, motels, inns, or bed and breakfasts for temporary occupancy, in any form or fashion, including, without limitation, private or public homes, residences, housing, dwellings, apartments, studios, flats, townhomes, condominiums, cooperatives, residential rooms, residential beds, dormitories, student residences and housing, student apartments, fraternityhouses,sororityhouses,studentresidentialquartersorotherformor housing, as of January 24, 2026, individually and collectively "residential properties".

All residential properties are deemed district exclusions.

In the event that the description of the BRCC EDD set forth in Subparagraph (a) of thisParagraphincludesanyofthedistrictexclusions,thedistrictexclusionshall not be considered as a component of the BRCC EDD.

C.(1) The district shall be administered and governed by a board of commissioners, referred to in this Section as the "board".

(2) The board shall be comprised as follows:

(a)Thehighestexecutiveofficerofthecollegeshallappointfourpersons Page 12 of 19 Coding:

Words which are struck through are deletions from existing law;

words in boldface type and underscored are additions.

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283 ENROLLED and shall serveas a member of the board and chairman of the board as long as he is the highest executive officer of the college.

(b) Two of the members of the board shall be representatives from businesses within the district.

(3) Members shall serve five-year terms after initial terms as provided by the ordinance creating the district.

The president shall serve as long as he is president of the college.

Two members shall serve an initial term of two years, andtwomembersshallserveaninitialtermofthreeyears,asdeterminedbylot at the first meeting of the board.

Each member of the board shall continue to serve until reappointed or a successor is duly appointed.

Any vacancy in the membership of the board shall be filled in the manner of the original appointment for the unexpired term.

If an appointment to fill a vacancy is not made within sixty days, the board shall appoint an interim successor to serve until the position is filled by the appointing authority.

(4) Any member of the board may be removed by a three-fourths vote oftheremainingmembershipoftheboardforcause,whichmayincludefailure to attend at least one-half of the meetings of the board in a two-year period.

(5) The members of the board shall serve without salary or per diem.

The board may reimburse any member for reasonable, actual, and necessary expenses incurred in the performance of his duties pursuant to this Section.

(6)The board shall electfromits members a president, a vice president, a secretary, and a treasurer, whose duties shall be those common to these offices.Attheoptionoftheboard,theofficesofsecretaryand treasurermaybe held by one person.

(7) The board shall meet in regular session at least once per year and shall also meetin specialsessionasoftenas thepresidentof theboardconvenes the board or upon the written request of at least three members.

A majority of the members of the board shall constitute a quorum for the transaction of business.

The board shall keep minutes of all meetings and shall make them available for inspection through the board's secretary or secretary-treasurer, Page 13 of 19 Coding:

Words which are struck through are deletions from existing law;

words in boldface type and underscored are additions.

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283 ENROLLED who shall also maintain the minute books and archives of the district.

The monies, funds, and accounts of the district shall be in the official custody of the board.

(8) The domicile of the board shall be established by the board at a location within the district.

The official journal of the district is the official journal of the parish where the domicile of the board is located.

D.

The district, acting by and through its board, shall have and exercise allpowersofapoliticalsubdivisionnecessaryorconvenientforthecarryingout of its objects and purposes, including but not limited to the following:

(1) To sue and to be sued.

(2) To adopt, use, and alter at will a corporate seal.

(3) To acquire by gift, grant, or purchase all property, including rights- of-way,movable,immovable,ormixed,corporealorincorporeal,oranyinterest therein.

(4) To enter into contracts for the purchase, acquisition, construction, and improvement of works and facilities necessary in connection with the purposes of the district.

(5) To regulate the imposition of feesand rentalschargedbythedistrict for its facilities and services rendered by it.

(6)To borrow moneyandpledgeallorpartofitsrevenues,leases,rents, or other advantages as security for the loans.

(7) To appoint officers, agents, and employees;

prescribe their duties;

and fix their compensation.

(8) To develop public improvement projects for the benefit of the respective college, either directly with the respective college or through one or more private foundations or nonprofit corporations affiliated with the respective college, or both.

E.(1)ThedistrictmaycreatesubdistrictsasprovidedinthisSubsection.

Thedistrictshallpublish noticeofitsintenttocreateasubdistrictintheofficial journalofthedistrict.Atleasttendaysafterpublicationofthenotice,theboard Page 14 of 19 Coding:

Words which are struck through are deletions from existing law;

words in boldface type and underscored are additions.

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283 ENROLLED shall conduct a public hearing on the question of creating the subdistrict.

Thereafter, the board may designate one or more areas within the boundaries of the district as subdistricts of the district.

Each subdistrict shall constitute a political subdivision of the state and shall be governed by the board.

Each subdistrict shall have the same powers as the district and shall be given a suitable name as the board may designate.

Hereafter in this Section, any reference to the district includes any subdistrict created by the district.

(2) The boundaries of a district may be changed in accordance with provisions of this Section dealing with the establishment of the original boundaries.

F.(1) The district may issue and sell from time to time bonds, notes, renewalnotes,refundingbonds,interimcertificates,certificatesofindebtedness, certificates of participation, debentures, warrants,commercial paper, or other obligations or evidences of indebtedness to provide funds for and to fulfill and achieve its public purpose or corporate purposes, as set forth in this Section, including but not limited to the payment of all or a portion of the costs of a project, to provide amounts necessary for any corporate purposes, including necessary and incidental expenses in connection with the issuance of the obligations, the payment of principal and interest on the obligations of the district, the establishment of reserves to secure the obligations, and all other purposes and expenditures of the district incident to and necessary or convenient to carry out its public functions or corporate purposes, and any credit enhancement for the obligations.

(2) Except as may otherwise be provided by the board, all obligations issued by the district shall be negotiable instruments and payable solely from the revenues of the district as determined by the board, or from any other source that may be available to the district but shall not be secured by the full faith and credit of the state or the local governmental subdivision.

(3) Obligations shall be authorized, issued, and sold by a resolution or resolutionsoftheboard.Thebondsorobligationsmaybeoftheseries;bearthe Page 15 of 19 Coding:

Words which are struck through are deletions from existing law;

words in boldface type and underscored are additions.

SB NO.

283 ENROLLED date or dates;

mature at the time or times;

bear interest at the rate or rates, including variable, adjustable, or zero interest rates;

be payable at the time or times;

be in the denominations;

be sold at the price or prices, at public or private negotiated sale, after advertisement as is provided for in R.S.

39:1426;

beintheform;carrytheregistrationandexchangeabilityprivileges;bepayable at the place or places;

be subject to the terms of redemption;

and be entitled to theprioritiesontheincome,revenue,andreceiptsof,oravailableto,thedistrict as may be provided by the board in the resolution or resolutions providing for the issuance and sale of the bonds or obligations of the district.

(4) The obligations of the district shall be signed by the officers of the board by either manual or facsimile signatures as shall be determined by resolution or resolutions of the board and may have impressed or imprinted thereon the seal of the district or a facsimile thereof.

(5) Any obligations of the district may be validly issued, sold, and delivered,notwithstanding thatoneormoreof theofficersof theboard signing the obligations, or whose facsimile signature or signatures may be on the obligations, shall have ceased to be the officer of the board at the time the obligations shall actually have been delivered.

(6) Obligations of the district may be sold in the manner and from time to time as may be determined by the board to be most beneficial, subject to approval of the State Bond Commission, and the district may pay all expenses, premiums, fees, or commissions which it may deem necessary or advantageous in connection with the issuance and sale thereof.

(7)Theboardmayauthorizetheestablishmentofafundorfundsforthe creation of a debt service reserve, a renewal and replacement reserve, or other funds or reserves as the board may approve with respect to the financing and operation of any project funded with the proceeds of the bonds and as may be authorized by any bond resolution, trust agreement, indenture of trust, or similar instrument or agreement pursuant to the provisions of which the issuance of bonds or other obligations of the district or subdistrict may be Page 16 of 19 Coding:

Words which are struck through are deletions from existing law;

words in boldface type and underscored are additions.

SB NO.

283 ENROLLED authorized.

(8) Any cost, obligation, or expense incurred for any of the purposes or powers of the district specified in this Subsection shall be a part of the project costs and may be paid or reimbursed as such out of the proceeds of bonds or other obligations issued by the district;

however, no portion of any state sales taxes made directly available to the district pursuant to an agreement with the state shall be used by the district to pay the costs of constructing or operating any privately owned hotel located within the district without the consent of the Joint Legislative Committee on the Budget or its successor.

(9) For a period of thirty days from the date of publication of the resolutionauthorizingtheissuanceofbondshereunder,anypersonsininterest shallhavetherighttocontestthelegalityoftheresolutionandthelegalityofthe bond issue for any cause, after which time no one shall have any cause or right of action to contest the legality of the resolution or of the bonds authorized thereby for any cause whatsoever.

If no suit, action, or proceeding is begun contestingthevalidityofthebondissuewithinthirtydays,theauthoritytoissue the bonds and to provide for the payment thereof and the legality thereof and alloftheprovisionsoftheresolutionauthorizingtheissuanceofthebonds,shall be conclusively presumed, and no court shall have authoritytoinquire into the matters.

(10) Neither the members of the board nor any person executing the bonds shall be personally liable for the bonds or be subject to any personal liability by reason of the issuance thereof.

No earnings or assets of the district shall accrue to the benefit of any private persons.

However, the limitation of liability provided for in this Paragraph shall not apply to any gross negligence or criminal negligence on the part of any member of the board or person executing the bonds.

(11)Allobligationsauthorizedtobeissuedbythedistrictpursuanttothe provisions of this Subsection, togetherwith interestthereof,incometherefrom, and gain upon the sale thereof shall be exempt from all state and local taxes.

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Words which are struck through are deletions from existing law;

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SB NO.

283 ENROLLED (12) The state and all public officers;

any parish, municipality, or other subdivision orinstrumentalityofthestate;any politicalsubdivision;

anybank, banker, trust company, savings bank and institution, building and loan association, savings and loan association, investment company, or any person carrying on a banking or investment business, any insurance company or business, insurance association, and any person carrying on an insurance business;andanyexecutor,administrator,curator,trustee,andotherfiduciary;

andanyretirementsystemorpensionfundmaylegallyinvestanysinkingfunds monies;

or other funds belonging to them or within their control in any bonds or other obligations issued by the district pursuant to the provisions of this Subsection, and the bonds or other obligations shall be authorized security for all public deposits.

It is the purpose of this Section to authorize the persons, firms, corporations, associations, political subdivisions and officers, or other entities, public or private, to use any funds owned or controlled by them, including but not limited to sinking, insurance, investment, retirement, compensation, pension, and trust funds, and funds held on deposit, for the purchase of any bonds or other obligations of the district or subdistrict, and that the bonds shall be authorized security for all public deposits.

However, nothingcontainedinthisSectionwithregardtolegalinvestmentsorsecurityfor publicdepositsshallbeconstruedasrelievinganyperson,firm,corporation,or other entity from any duty of exercising reasonable care in selecting securities.

G.

The districtshalldissolveandceasetoexistupon thelatertooccurof either one year after the date on which all loans, bonds, notes, and other evidencesofindebtednessofthedistrict,includingrefundingbonds,arepaidin full as to both principal and interest or fifty years from the creation of the district.

H.

This Section, being necessary for the welfare of the state, the parish, and its residents, shall be liberally construed to effect the purposes thereof.

Section 2.

This Act shall become effective upon signature bythe governor or, if not signedbythegovernor,uponexpirationofthetimeforbillstobecomelawwithoutsignature Page 18 of 19 Coding:

Words which are struck through are deletions from existing law;

words in boldface type and underscored are additions.

SB NO.

283 ENROLLED by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana.

If vetoed bythe governorand subsequentlyapprovedbythe legislature, this Act shall become effective on the dayfollowing such approval.

PRESIDENT OF THE SENATE SPEAKER OF THE HOUSE OF REPRESENTATIVES GOVERNOR OF THE STATE OF LOUISIANA APPROVED:

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