US Laws, Codes, Statutes & Cases

§46.  Organization of industrial districts

A.  The board may create and organize industrial districts in connection with the operation, by the board, of the Inner Harbor Navigation Canal in the city of New Orleans, and to that end, the board may:

(1)  Acquire land, or the control thereof, by purchase, lease, contract, or expropriation.

(2)  Levy and collect benefit assessments against lands benefited by improvements, by contract with the owner or owners thereof.

(3)  Issue bonds or certificates of indebtedness, for which neither the credit of the state nor or of the board shall ever be pledged, and the payment of which shall be based on and secured by the payment of such benefit assessments and by the land itself; however, neither the state nor the board shall be liable for such benefit assessments.

(4)  Enter into all contracts incidental to the purposes herein with public or private persons, firms, and corporations.

B.  The authority granted by this Section shall be a continuing authority, and the creating or organizing of the first industrial district thereunder shall not exhaust the power of the Board of Commissioners of the Port of New Orleans.

Added by Acts 1975, No. 464, §1.