LA Rev Stat § 33:2740.55 (2021)
2021 Louisiana Laws|Revised Statutes|Title 33 - Municipalities and Parishes|§2740.55. Town of Winnsboro Downtown Development District

RS 2740.55 - Town of Winnsboro Downtown Development District A. Intent. The legislature hereby finds and declares that it is necessary for the public health, safety, and welfare of the town of Winnsboro that the property value deterioration in the downtown area be halted and that the causes of such deterioration be halted. B. Creation. (1) The Town of Winnsboro Downtown Development District, hereinafter referred to as the "district", is hereby created for the primary purpose of redevelopment of the central business district. (2) The district shall be comprised of that portion of the town of Winnsboro that encompasses as a westerly boundary Common Street and an easterly boundary of Pine Street and the streets that extend along both sides of Prairie Street as a southerly boundary and Adams Street as the northerly boundary and all streets therein. (3) The district shall be a political subdivision of the state of Louisiana as defined in Article VI, Section 44(2) of the Constitution of Louisiana and, as such, shall have all of the powers accorded by law to political subdivisions of the state, including the power to cooperate with and to engage in cooperative endeavors with other persons and entities as provided by Article VI, Section 20 and Article VII, Section 14(C) of the Constitution of Louisiana. C. Governance. (1) The governing authority of the district shall be the ten member Main Street Board, hereinafter, referred to as the "board". The appointments and terms of board members shall be those specified in the authority creating the Main Street Board. (2) The board shall adopt such rules for the transaction of its business as it deems necessary and shall keep a record of its resolutions, transactions, studies, findings, and determinations, which record shall be a public record. (3) The board may employ or contract with an executive director and set his compensation and terms of employment. Notwithstanding any other provision of law to the contrary, the board may establish the term of such contract. The board also may employ such other employees as are necessary to carry out the functions of the district as authorized by the board. D. Redevelopment activities. (1) In order to effectuate the purposes of this Section, the board shall have the specific authority provided in R.S. 33:4625(F); such authority shall be exercised solely within the district. (2) The board shall formulate a redevelopment plan or plans for the district and submit any plan to the governing authority of the town of Winnsboro for review. The board shall formulate a program or programs to implement any redevelopment plan. Such a program shall implement the various plans in such a manner as to aid and encourage private development of the area and to promote and coordinate public development. In formulating such a program, the board may conduct studies and may consult with all departments of the town of Winnsboro and other public or private agencies concerned with matters affecting or affected by the program. (3) After adoption of the development program, the board may implement any portion thereof in such manner as shall, in its judgment, most likely accomplish said program. To that end, the district may employ or contract with engineers, architects, attorneys, underwriters, and other professionals necessary for the financing and implementation of the construction, renovation, maintenance, or operation of facilities described in the redevelopment plan and may contract in accordance with law for the construction, renovation, maintenance, or operation of the facilities. (4) The board shall prepare each year an annual budget in accordance with the Louisiana Local Government Budget Act, R.S. 39:1301 et seq. E. Revenues. (1) Subject to the approval of the governing authority of the town of Winnsboro and district electors as provided in Paragraph (4) of this Subsection, the district may levy an ad valorem tax not exceeding fifteen mills for such number of years as may be provided in the proposition authorizing its levy for the purpose of planning, constructing, acquiring, operating, or maintaining public facilities contemplated by the redevelopment plan and for the operating expenses of the district. (2) Subject to the approval of the governing authority of the town of Winnsboro and district electors as provided in Paragraph (4) of this Subsection, the district may issue general obligation bonds in accordance with the provisions of R.S. 39:551 et seq., for the purpose of constructing, acquiring, or improving any work of public improvement contemplated by the redevelopment plan. As provided by Article VI, Section 33 of the Constitution of Louisiana, the bonds shall have pledged thereto the full faith and credit of the district, and the district shall levy and collect taxes on all property subject to taxation in the district sufficient to pay the bonds in principal, interest, and premium, if any, as the same become due and payable. (3) Any ad valorem tax levied by the district, including taxes levied under Paragraph (1) of this Subsection or levied to provide for payment of bonds authorized under Paragraph (2) of this Subsection, being special ad valorem taxes, shall be subject to the homestead exemption as provided by Article VII, Section 20 of the Constitution of Louisiana. (4) No ad valorem tax may be levied under the provisions of Paragraph (1) of this Subsection nor may any bonds be issued under the provisions of Paragraph (2) of this Subsection unless authorized by a majority of the electors of the district who vote at an election held for that purpose in accordance with the applicable provisions of the Louisiana Election Code. The governing authority of the town of Winnsboro shall call any such election. (5) Any tax levied under authority of this Subsection shall be in addition to all other taxes which other political subdivisions in Franklin Parish are now or hereafter may be authorized by law to levy and collect. All services and programs to be provided from the proceeds of the tax shall be in addition to the services and programs which are otherwise provided by other governing authorities. F. The district shall be authorized to enter into agreements with any person or persons, public or private, providing for contributions or payments towards the cost of financing public facilities in the district. The district is hereby authorized to issue bonds secured wholly or partly by the revenues of such agreements and wholly or partly by other revenues that may be received, from time to time, by the district provided the bonds are authorized and issued in the manner provided by R.S. 39:1011 et seq. G. The financial records of the district shall be audited pursuant to the provisions of R.S. 24:513. Acts 2003, No. 235, §1, eff. June 5, 2003.