§ 33:4531 — Authority to transfer the public belt railroad system

Louisiana § 33:4531

• Jurisdiction: Louisiana
• Title 33: Municipalities and Parishes

Text

§4531. Authority to transfer the public belt railroad system
Upon the recommendation of the railroad commission and the determination by the
Board of Commissioners of the Port of New Orleans that the interests of the state of
Louisiana, the city of New Orleans, the port of New Orleans, and the public belt railroad
system would best be served if the public belt railroad system were owned or operated by
another firm or corporation, public or private, or another political subdivision or state agency,
the Board of Commissioners of the Port of New Orleans shall have the right and authority
to direct the railroad commission to assign, transfer, and deliver to such firm or corporation,
political subdivision or state agency all of its rights of way, rails, tracks, locomotives, switch
yards, and such other assets of the public belt railroad system as are needed or useful in
connection with the operation of a terminal railroad, upon such terms and conditions as the
Board of Commissioners of the Port of New Orleans and the railroad commission each shall
approve by resolution duly adopted at a regular or special meeting of the respective boards.
Any such transfer shall require that such firm, corporation, political subdivision, or state
agency agree (i) to continue to operate, maintain, and develop the public belt railroad system
to serve the Port of New Orleans and the industries located on the system; (ii) to make proper
and legal provision for the pledge of railroad net revenues toward the payment of outstanding
Port of New Orleans Port Facility Revenue Bonds and other indebtedness outstanding at such
time; and (iii) to recognize and maintain the rights of the employees of the public belt
railroad system under existing labor contracts and applicable law; however, this requirement
shall not be interpreted to prohibit future changes that may be permitted by law or contract
or negotiated agreement with employees. With the exception of any agreement with the
Board of Commissioners of the Port of New Orleans, any such agreement with any state
agency which directly or indirectly affects an expenditure of state funds shall require the
approval of the legislature.
NOTE: See Acts 2020, No. 359, §§9 and 10, regarding effectiveness and
applicability of cooperative endeavor agreement dated February 1, 2018.

Legislative History

Added by Acts 1976, No. 245, §1; Acts 2020, No. 359, §3, see Act.