LA Rev Stat § 33:2740.70.2 (2021)
2021 Louisiana Laws|Revised Statutes|Title 33 - Municipalities and Parishes|§2740.70.2. The Mid City Economic Development District; creation, composition, and powers; levy of ad valorem taxes

RS 2740.70.2 - The Mid City Economic Development District; creation, composition, and powers; levy of ad valorem taxes  A. There is hereby created within the parish of Orleans a body politic and corporate which shall be known as the Mid City Economic Development District, referred to in this Section as the "district". The district shall be a political subdivision of the state as defined in the Constitution of Louisiana. The district, acting through its board of commissioners, the governing authority of the district, is hereby granted all of the rights, powers, privileges, and immunities granted to political subdivisions for economic development purposes.  B. The district is established to allow the assessor to purchase and develop property in the district for the use of any governmental subdivision.  C. The boundaries of the district shall encompass the area included within the following perimeter: I-10, LaSalle Street, Tulane Avenue, and Broad Street.  D. The district shall be governed by a five-member board of commissioners, referred to in this Section as the "board". The board shall be composed as follows:  (1)(a) The state representative who represents the district, or his designee.  (b) The state senator who represents the district, or his designee.  (c) The mayor of the city of New Orleans, or his designee.  (d) The sheriff of Orleans Parish, or his designee.  (e) The assessor of Orleans Parish, or his designee.  (2)(a) Each designee shall be a resident of the district and a qualified voter of the city of New Orleans. Each designee shall also have his principal place of business in or own property in the district. Each designee shall serve at the pleasure of his respective designating authority. Members shall serve until their successors have been appointed and qualified.  (b) Any vacancy which occurs in the membership of the board shall be filled in the same manner as the original appointment.  (3) As soon as practicable after its appointment, the board shall meet and elect from its number a vice chairman, a treasurer, and other officers as it may deem appropriate. The assessor of Orleans Parish shall serve as chairman. The duties of the officers shall be fixed by bylaws adopted by the board.  (4) The board shall adopt rules and regulations as it deems necessary or advisable for conducting its business and affairs and shall engage assistants and employees as are needed to assist the board in the performance of its duties. It shall hold regular meetings as shall be provided by its bylaws and may hold special meetings at such time and places within or without the district as may be prescribed in its rules or regulations.  (5) A majority of the members of the board shall constitute a quorum for the transaction of business. The board shall keep minutes of all regular and special meetings and shall make them available to the public in conformance with law.  (6) The members of the board shall serve without compensation; however, they shall receive travel allowance as reimbursement for expenses incurred while attending to the business of the district.  (7) Any member of the board may serve on the board of a private entity which enters into contracts with the district provided that the member does not receive compensation from the private entity.  (8) The state senator who represents the district shall call the first meeting of the board no later than February 15, 2020.  E. The district shall have the power to acquire, lease, insure, and sell immovable property within its boundaries.  F. The city council, in addition to all other taxes which it may be authorized by law to levy and collect, is authorized to levy and collect as provided in this Section for a term not to exceed fifty years from and after the date the first tax is levied pursuant to the provisions of this Section, in the same manner and at the same time as all other ad valorem taxes on property subject to taxation by the city are levied and collected, a special ad valorem tax upon all taxable immovable property situated within the boundaries of the district. The tax shall be levied and collected only after the question of its imposition has been submitted to and approved by a majority of the qualified voters of the district voting on the question at a regularly scheduled primary or general election to be conducted in accordance with provisions of the Louisiana Election Code. Any tax levied pursuant to the provisions of this Section shall be subject to the homestead exemption as provided by Article VII, Section 20 of the Constitution of Louisiana. The proceeds of the tax shall be used solely and exclusively for the purposes and benefit of the district. The proceeds shall be paid over to the Board of Liquidation, City Debt, day by day as they are collected and received by the appropriate officials of the city of New Orleans and maintained in a separate account. The tax proceeds shall be paid out by the Board of Liquidation, City Debt, solely for the purposes provided for in this Section upon warrants or drafts drawn on the Board of Liquidation, City Debt, by the appropriate officials of the city and the treasurer of the district.  Acts 2019, No. 266, §1, eff. June 11, 2019.