§4548.5. Powers of the authority
A. The authority shall have all of the powers necessary to give effect to and carry out
the purpose and provisions of this Chapter, including, in addition to all other powers granted
by other provisions of this Chapter, the powers:
(2)To adopt an official seal and alter the same at its pleasure.
(3)To adopt bylaws and rules for the regulation of its affairs and the conduct of its
business.
(4)To maintain an office at such place as it may designate.
(5)To make and execute contracts and all other instruments necessary or convenient
for the exercise of its powers and functions under this Chapter with any federal or state
governmental agency, local political subdivision, public or private corporation, lending
institution, or other en
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§4548.5. Powers of the authority
A. The authority shall have all of the powers necessary to give effect to and carry out
the purpose and provisions of this Chapter, including, in addition to all other powers granted
by other provisions of this Chapter, the powers:
(1) To sue and be sued.
(2) To adopt an official seal and alter the same at its pleasure.
(3) To adopt bylaws and rules for the regulation of its affairs and the conduct of its
business.
(4) To maintain an office at such place as it may designate.
(5) To make and execute contracts and all other instruments necessary or convenient
for the exercise of its powers and functions under this Chapter with any federal or state
governmental agency, local political subdivision, public or private corporation, lending
institution, or other entity or person, including but not limited to loan contracts for the
acquisition, sale or lease, or sale-back or lease-back of property, issuances of bonds, payment
of premiums, fees, or charges, and the purchase or guarantee of bonds, notes, loans, or other
debt obligations of political subdivisions of the state, issuance and security of bonds for
nonprofit organizations for economic development, and to avail itself of the provisions of
Parts VII and XII of Chapter 4 of Title 39 of the Louisiana Revised Statutes of 1950.
(6) To accept, administer, and expend donations of movable or immovable property
from any source; and receive, administer, and expend appropriations from the legislature and
financial assistance, guarantees, insurance, or subsidies from the federal or state government
or a private source.
(7) To procure or provide for the procurement of insurance or reinsurance against
any loss in connection with its property or operations, including but not limited to insurance,
reinsurance or other guarantees from any federal or state governmental agency or private
insurance company for the payment of any bonds issued by the authority, or bonds, notes, or
any other obligations or evidences of indebtedness issued by the state or any political
subdivision or by any lending institution or other entity or person, or insurance or reinsurance
against loss with respect to loans to political subdivisions, including the power to pay
premiums on such insurance or reinsurance.
(8) To insure, coinsure, reinsure, or cause to be insured, coinsured, or reinsured loans
to and bonds or obligations issued by any participating political subdivision for authorized
projects and pay or receive premiums on such insurance, coinsurance, or reinsurance and
establish reserves for losses and participate in the insurance, coinsurance, or reinsurance to
political subdivisions of loans with the federal or state government or any private insurance
company.
(9) To borrow money and issue negotiable bonds, or other obligations on behalf of
or for the benefit of or for any participating political subdivision, in the principal amounts
and for the purposes authorized by law, and to provide for the rights of the owners of such
bonds, notes, or other obligations, and to provide other financing assistance to participating
political subdivisions.
(10) To invest any funds held in reserve or sinking funds, or any monies not required
for immediate use or disbursements at the discretion of the authority in any investments or
securities in which monies of the state are authorized to be invested.
(11) In connection with the issuance of bonds or obligations of the authority, to make
and collect such rents, fees, and charges, including but not limited to, reimbursement of all
costs of financing by the authority as the authority shall determine to be reasonable and
required.
(12) To accept any gifts or grants or loans of funds or financial or other aid in any
form from the federal government or instrumentality thereof or from the state or from any
other source and to comply, subject to the provisions of this Chapter, with the terms and
conditions thereof.
(13) To appoint an executive director to administer the affairs of the authority. The
executive director shall be appointed and serve at the pleasure of the board of directors.
(14) To purchase movable and immovable property, supplies, and devices in bulk
on behalf of the participating political subdivisions.
(15) To exercise the power of expropriation in accordance with the provisions of
R.S. 19:1 et seq.
(16) To avail itself of the provisions of R.S. 33:1321 et seq. and R.S. 33:9020 et seq.
(17) To contract with professionals and to pay such professionals for services
rendered.
(18) To assist in the financing of any project to be constructed by a participating
political subdivision and the purchase of any major equipment by a participating political
subdivision, provided that any such project or purchase shall be in accordance with the state
public bid law.
(19) To exercise any and all powers possessed by any political subdivision necessary
or convenient to effect the purposes of this Chapter.
(20) To loan money to any political subdivision, state agency, or other eligible entity
under any loan guaranty program of any department or agency of the United States, including
the United States Department of Agriculture Rural Utility Services Water and Waste
Disposal Guaranteed Loan Program and Community Program Guaranteed Loan Program or
any successor guaranty program.
(21) Notwithstanding any provision of law to the contrary, to contract to exercise
powers of the authority and to enter into contracts which the authority deems necessary in
carrying out the authority's powers.
(22) Notwithstanding any provision of law to the contrary, to contract with any
political subdivision for the exercise by the authority of any of the authority's powers as set
out in this Chapter.
(23) Notwithstanding any provision of law to the contrary, to contract or invest any
funds, monies, or bond proceeds of the authority or of any political subdivision in such
manner as shall be deemed by the authority to be prudent.
B. The authority may enter into local service agreements with the participating
political subdivisions through which such political subdivisions may agree to share in the
costs of operating the authority and to pay such charges and fees as may be imposed by the
authority.
C. Notwithstanding any other provision of law to the contrary, the powers of the
authority pursuant to this Section shall extend to all parishes of the state. The authority may
exercise these powers directly or through the establishment of a joint commission by entering
into a local services agreement with a parish or municipality pursuant to R.S. 33:1321 et seq.
The service area of the authority or a joint commission established in this manner shall be
the state unless otherwise limited pursuant to the terms of the local services agreement.
NOTE: See Acts 2003, No. 588, §2, relative to intent and construction of
Act.