2015 Louisiana Laws
Revised Statutes
TITLE 48 - Roads, Bridges and Ferries
RS 48:82 - Definitions

§82. Definitions

            The following terms as used in this Subpart shall have the following meanings:

            (1) "Bank" means the Louisiana State Transportation Infrastructure Bank.

            (2) "Board" means the board of directors of the Bank.

            (3) "Department" means the Department of Transportation and Development.

            (4) "Eligible costs" means:

            (a) For an eligible transportation project to be financed from the federal roadway account or federal nonroadway account, the costs that are permitted under applicable federal laws, requirements, procedures, and guidelines in regard to establishing, operating, and providing assistance from the Bank.

            (b) For an eligible transportation project to be financed from the state and local roadway account, the costs of preliminary engineering, traffic and revenue studies, environmental studies, right-of-way acquisition, legal and financial services associated with development of the eligible transportation project, construction, construction management, facilities, and other costs necessary for the eligible transportation project.

            (c) As applied to an eligible transportation project to be financed from the state nonroadway account, the costs that include preliminary engineering, traffic and revenue studies, environmental studies, right-of-way acquisition, legal and financial services associated with development of the eligible transportation project, construction, construction management, equipment, facilities, and other nonoperating costs necessary for the eligible transportation project.

            (5) "Eligible transportation project" means any transportation facility which has been approved by the department and selected by the Bank to receive a loan or other financial assistance from the Bank to defray an eligible cost.

            (6) "Financing agreement" means any agreement entered into between the Bank and a qualified borrower pertaining to a loan or other financial assistance. The term "financing agreement" includes, without limitation, a loan agreement, trust indenture, security agreement, reimbursement agreement, guarantee agreement, bond or note, ordinance or resolution, or similar instrument.

            (7) "Governmental unit" means a parish, municipality, publicly operated port, harbor, or terminal district, publicly operated airport, publicly operated ferry, or publicly operated transit system.

            (8) "Loan" means an obligation subject to repayment which is provided by the Bank to a qualified borrower for all or part of the eligible costs of an eligible transportation project. A loan may be disbursed in anticipation of reimbursement for or direct payment of eligible costs of an eligible transportation project.

            (9) "Loan obligation" means a bond, note, or other evidence of an obligation issued by a qualified borrower.

            (10) "Other financial assistance" means but is not limited to credit enhancement, capital or debt reserves for bonds or debt instrument financing, interest rate subsidies, provision of letters of credit and credit instruments, provisions of bond or other debt financing instrument security, and other lawful forms of financing and methods of leveraging funds that are approved by the board, and in the case of federal funds, as allowed by federal law or regulation.

            (11) "Project revenues" means all rates, rents, fees, assessments, charges, and other receipts derived or to be derived by a qualified borrower from an eligible transportation project or made available from a special source, and as provided in an applicable financing agreement, derived from any system of which the eligible transportation project is a part or from any other revenues producing facility under the ownership or control of the qualified borrower, including, without limitation, proceeds of grants, gifts, appropriations and loans, including the proceeds of loans made by the Bank, investment earnings, reserves for capital and current expenses, proceeds of insurance or condemnation, and proceeds from the sale or other disposition of property and from any other special source as may be provided by the qualified borrower.

            (12) "Qualified borrower" means any governmental unit authorized by the board to construct, operate, or own an eligible transportation project.

            (13) "Revenues" means, when used with respect to the Bank, any receipts, fees, income, or other payments received or to be received by the Bank, including, without limitation, receipts and other payments deposited in the Bank and investment earnings on its funds and accounts.

            (14) "Transportation facility" means any public road, highway, bridge, airport, port, ferry, or transit facility or system that provides access or benefits to the state highway system and benefits the public by either enhancing mobility or safety, promoting economic development, or increasing the quality of life and general welfare of the public. "Transportation facility" also includes mass transit including, but not limited to, monorail and monobeam mass transit systems.

            Acts 2015, No. 431, §2.