reglab/statecodes huggingface dataset:
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1447. Security for refunding bonds

RS 39:1447 - Security for refunding bonds
A. The refunding bonds issued to refund outstanding revenue bonds or limited tax bonds may be secured in the same manner as the securities being refunded or may be secured in such other manner as may be prescribed by the governing body of the issuer; provided, however, if such refunding bonds are to be secured by the full faith and credit of the issuer, they must be authorized at an election held by the issuer in accordance with the requirements of the constitution and laws of Louisiana pertaining to elections for the issuance of general obligation bonds.
B. Any general obligation refunding bonds issued to refund outstanding general obligation securities shall be authorized in accordance with Article VI, Section 33(A) of the Louisiana Constitution of 1974 and, subject to the provisions thereof, shall be issued in accordance with the provisions of this Chapter.
Acts 1984, No. 352, §1, eff. July 2, 1984.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1448. Additional security

RS 39:1448 - Additional security
Refunding bonds issued under this Chapter may be secured additionally by credit enhancement devices, the cost of which, upon a finding of benefit therefrom by the governing body of the issuer, may be paid from the proceeds of the refunding bonds or other lawfully available funds. The refunding bonds may also be secured by a trust agreement or trust indenture by and between the issuer and one or more corporate trustees.
Acts 1984, No. 352, §1, eff. July 2, 1984.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1449. Sale of refunding bonds

RS 39:1449 - Sale of refunding bonds
Refunding bonds may be sold at either public or negotiated sale for such price as may be determined by the governing body of the issuer and approved by the State Bond Commission.
Acts 1984, No. 352, §1, eff. July 2, 1984.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1450. Interest rates of refunding bonds

RS 39:1450 - Interest rates of refunding bonds
Refunding bonds shall bear interest at such rate or rates as are set forth in the resolution or ordinance authorizing the issuance of the bonds but such interest rate or rates shall be governed by the provisions of R.S. 39:1424 and 1424.1.
Acts 1984, No. 352, §1, eff. July 2, 1984.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1451. Publication of resolution or ordinance; peremption

RS 39:1451 - Publication of resolution or ordinance; peremption
A. Any resolution or ordinance authorizing the issuance of refunding bonds shall be published one time in the official journal of the issuer or, if the issuer does not have an official journal, one time in a newspaper of general circulation within the jurisdiction of the issuer; however, it shall not be necessary to publish any exhibits to such resolution or ordinance if the same are available for public inspection and such fact is stated in the publication.
B. For thirty days after the date of publication, any person in interest may contest the legality of the resolution or ordinance, any provision of the refunding bonds to be issued pursuant to it, the provisions therein made for the security and payment of the refunding bonds and the validity of all other provisions and proceedings relating to the authorization and issuance of such bonds.
C. After the said thirty days, no person may contest the regularity, formality, legality or effectiveness of the resolution or ordinance, any provisions of the refunding bonds to be issued pursuant to it, the provisions for the security and payment of the refunding bonds and the validity of all other provisions and proceedings relating to their authorization and issuance, for any cause whatever. Thereafter, it shall be conclusively presumed that the refunding bonds are legal and that every legal requirement for the issuance of the refunding bonds has been complied with. No court shall have authority to inquire into any of these matters after the said thirty days.
Acts 1984, No. 352, §1, eff. July 2, 1984.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1452. Status of refunding bonds as negotiable instruments; exemption from taxes; legal investments

RS 39:1452 - Status of refunding bonds as negotiable instruments; exemption from taxes; legal investments
All refunding bonds issued pursuant to this Chapter shall be and are hereby made negotiable instruments within the meaning of and for all purposes of the negotiable instruments law of Louisiana, subject only to the provisions of the refunding bonds for registration. All refunding bonds and the income therefrom shall be exempt from all taxation by this state or any political subdivision thereof. The refunding bonds shall be legal and authorized investments for banks, savings banks, insurance companies, homestead and building loan associations, trustees and other fiduciaries and may be used for deposit with any officer, board, municipality or other political subdivision of the state of Louisiana, in any case where, by present or future laws, deposit or security is required.
Acts 1984, No. 352, §1, eff. July 2, 1984.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1453. Use of proceeds of refunding bonds

RS 39:1453 - Use of proceeds of refunding bonds
The proceeds of the sale of any refunding bonds shall be deposited, applied, and disbursed in accordance with the provisions of the resolution or ordinance authorizing the issuance of the refunding bonds.
Acts 1984, No. 352, §1, eff. July 2, 1984.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1454. Refunded bonds not considered outstanding

RS 39:1454 - Refunded bonds not considered outstanding
The refunded bonds shall not be considered outstanding for the purpose of debt limitation laws restricting the amount of bonds that may be issued by any issuer.
Acts 1984, No. 352, §1, eff. July 2, 1984.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1455. Application of provisions

RS 39:1455 - Application of provisions
The powers and rights conferred by this Chapter shall be in addition to the power and rights conferred by any other general or special law. This Chapter does and shall be construed to provide a complete and additional method for the issuance of refunding bonds. No proceeding, notice, or approval shall be required for the issuance of any refunding bonds or any instrument as security therefor, except as provided herein. The provisions of this Chapter shall be liberally construed for the accomplishment of its purposes.
Acts 1984, No. 352, §1, eff. July 2, 1984.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1456. General obligation bond debt limitations; advance refunding

RS 39:1456 - General obligation bond debt limitations; advance refunding
The debt limitation for general obligation bonds issued by any political subdivision in order to advance refund its outstanding debt obligations is hereby established at an amount not greater than one hundred ten percent of the debt limitation otherwise established by law, provided that the term of the debt refunded shall not be extended and the principal and interest payments on the refunding bonds is less in each calendar year than the principal and interest in such calendar year on the outstanding debt being refunded.
Acts 1991, No. 178, §1, eff. July 2, 1991.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1461. Definitions

RS 39:1461 - Definitions
As used in this Chapter, the following terms shall have the following meanings:
(1) "Outstanding bonds" means all or any one or more of the following bonds issued directly by the state or by any state board, agency, or commission which may be outstanding at any time:
(a) General obligation bonds which are secured by the full faith and credit of the state, which may or may not be payable from the Bond Security and Redemption Fund, including those bonds which are payable primarily from specified portions of specific taxes or other dedicated revenues.
(b) Bonds which are not secured by the full faith and credit of the state, but which are payable from dedicated portions of specific state taxes and may or may not be additionally payable from the Bond Security and Redemption Fund.
(2) "Refund" means the act of refunding, including readjusting, extending, and unifying outstanding bonds or issues of bonds.
(3) "Refunded bonds" means the bonds being refunded by the issuance of refunding bonds.
(4) "Government obligations" means direct obligations of or obligations the payment of the principal and interest of which is unconditionally guaranteed by the United States of America.
Added by Acts 1978, No. 382, §1, eff. July 12, 1978.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1462. Refunding bonds authorized

RS 39:1462 - Refunding bonds authorized
The State Bond Commission is hereby authorized to issue refunding bonds, hereinafter referred to as "refunding bonds", for the purpose of providing funds to refund outstanding bonds of the state including, but not by way of limitation, amounts required for principal, interest to the maturity or redemption date, and call premium. If the refunding bonds carry an effective interest rate lower than that borne by the bonds being refunded and result in a net savings to the state after payment of all associated costs, there shall be no limit as to the amount of bonds that may be refunded by the issuance of refunding bonds pursuant to the authority of this Section.
Added by Acts 1978, No. 382, §1, eff. July 12, 1978; Acts 1986, No. 1048, §1, eff. Aug. 30, 1986; Acts 1986, 1st Ex. Sess., No. 1, §1, eff. Dec. 16, 1986.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1463. Status of refunding bonds

RS 39:1463 - Status of refunding bonds
The refunding bonds shall be general obligations of the state of Louisiana, to the payment of which, as to principal, premium, if any, and interest when the same become due and payable, the full faith and credit of the state is hereby irrevocably pledged. The refunding bonds shall be secured by monies pledged, dedicated to, and paid into the Bond Security and Redemption Fund and shall be payable on a parity with all bonds or other obligations heretofore and hereafter issued which are secured by the fund and may be additionally secured by government obligations.
Added by Acts 1978, No. 382, §1, eff. July 12, 1978.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1464. Issuance of refunding bonds

RS 39:1464 - Issuance of refunding bonds
The refunding bonds shall be issued from time to time by the State Bond Commission in its discretion and shall not be limited by the provisions of R.S. 39:1402(D) and (E) or be subject to the provisions of R.S. 39:1365 and R.S. 39:1366. The refunding bonds shall be authorized and issued by a resolution or resolutions of the State Bond Commission and shall be of such series, bear such date or dates, mature at such time or times not exceeding forty years from their respective dates, bear interest at such rate or rates subject to the provisions of Section 1465 of this Title, be in such denominations, be in such form, carry such registration and exchangeability provisions, be payable in such medium of payment and at such place or places, and be subject to such terms of redemption as such resolution or resolutions may provide. The resolution issuing the refunding bonds may provide for the establishment and maintenance of a sinking fund or a special escrow account or accounts for the payment of the principal of, and interest and premium, if any, on any maturities of the refunding bonds, the refunded bonds, or outstanding bonds not to be refunded by such refunding bonds or the payment of any other obligations of the state, contractual or otherwise, and any moneys deposited in such funds or accounts may be invested in government obligations and the maturing principal, interest, or redemption price of such government obligations may be used in the manner provided in such resolution including the securing and payment of all or any portion of the refunding bonds. The bonds shall be signed by either the state treasurer, the assistant treasurer, or the secretary of the State Bond Commission, and the great seal of the state of Louisiana shall be affixed, imprinted, or reproduced on the bonds, attested by the facsimile signature of the secretary of state. Any coupons attached to the bonds shall bear the facsimile signature of either the state treasurer, the assistant state treasurer, or the secretary of the State Bond Commission. The refunding bonds are declared to have the qualities of and are hereby made negotiable instruments under the laws of Louisiana and such bonds and the interest therefrom shall be exempt from income and all other taxation of the state of Louisiana.
Added by Acts 1978, No. 392, §1, eff. July 12, 1978.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1465. Sale of refunding bonds; interest rate

RS 39:1465 - Sale of refunding bonds; interest rate
The refunding bonds shall be sold in such manner, at either public or nonpublic sale, as may be determined by the State Bond Commission, for such price and bearing interest at such rate or rates as will create for the refunding bonds an effective interest rate which is lower than that of the refunded bonds. No refunding bonds authorized hereunder shall be delivered unless the state treasurer has certified that the effective interest rate on the refunding bonds is a lower effective interest rate than the effective interest rate on the refunded bonds. This certification shall be conclusive. In computing the effective interest rate for the purposes of this Act, there shall be taken into consideration all costs and expenses of issuance of the refunding bonds, including fees for bond counsel and other consultants and, to the extent paid from sources other than the proceeds of such refunding bonds, redemption premiums, if any, on the refunded bonds.
Added by Acts 1978, No. 382, §1, eff. July 12, 1978.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1466. Use of proceeds of refunding bonds

RS 39:1466 - Use of proceeds of refunding bonds
The proceeds of the sale of any refunding bonds shall be deposited, applied, and disbursed in accordance with the provisions of the resolution authorizing the issuance of the refunding bonds. Any earnings on the investment of the refunding bond proceeds may be used for the purpose of paying the principal, interest, and premium, if any, on the refunded bonds, and any balance after the complete retirement of the refunded bonds, as to principal, interest, and premium, if any, shall be placed in the Bond Security and Redemption Fund. The state treasurer may execute such documents and instruments as may be necessary to comply with the provisions of the resolution authorizing the issuance of the refunding bonds or to comply with applicable laws and regulations.
Added by Acts 1978, No. 382, §1, eff. July 12, 1978.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1467. Investment in government obligations

RS 39:1467 - Investment in government obligations
Notwithstanding any other provisions of law to the contrary, the state treasurer may invest the proceeds of refunding bonds issued hereunder, moneys from any other source deposited in any funds or accounts established in connection with the issuance of the refunding bonds, or moneys from any source deposited in any funds or accounts established as part of a refinancing, reorganization or refunding of state debt, in government obligations; however, such government obligations shall mature as to principal and interest in such amounts and at such times as will provide, when needed, cash funds for the object or purpose for which the invested funds are to be used.
Added by Acts 1978, No. 382, §1, eff. July 12, 1978.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1468. Refunded bonds not considered outstanding

RS 39:1468 - Refunded bonds not considered outstanding
For the purpose of debt limitation laws restricting the amount of general obligation bonds that may be issued by the state, no bond shall be deemed to be outstanding when payment of the principal of the applicable redemption premium, if any, on such bond, plus interest thereon to the due date thereof, whether such due date is by reason of maturity or upon redemption or prepayment or otherwise, shall have been made or caused to be made in accordance with the terms thereof, or shall have been provided by irrevocably depositing with a trustee or one of the paying agents for such bonds, in trust, moneys sufficient to make such payment or government obligations maturing as to principal and interest in such amount and at such time as will insure the availability of sufficient moneys to make such payment.
Added by Acts 1978, No. 382, §1, eff. July 12, 1978.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1470. Definitions

RS 39:1470 - Definitions
As used in this Chapter, the following terms shall have the following meanings:
(1) "Public entities" or "public entity" means any one of the following, acting alone or in conjunction with any other:
(a) State boards, commissions, or agencies; parishes; municipalities; parish and municipal school boards and districts; levee boards and districts; port boards and commissions; port, harbor and terminal, and industrial districts; drainage and land reclamation districts; all special service districts, including but not limited to road, water, sewerage, fire protection, recreation, hospital service, gas utility, and garbage districts; public trusts; and industrial development boards;
(b) All other political subdivisions, special authorities, commissions, and boards heretofore or hereafter created by or pursuant to the constitution or statutes of the state, any laws incorporated into or ratified or confirmed by the constitution, or general or special charters of any parish or municipality; and
(c) Any other unit of local government created or governed by the governing authority of any parish or municipality.
(2) "Revenue bonds" means securities payable from and secured solely by a pledge of the income and revenues derived or to be derived from fees, rates, rentals, tolls, charges, grants, or other receipts, income, or revenues derived from any properties or facilities belonging to or leased by a public entity or from obligations owed to such entity or from obligations arising in connection with an undertaking, facility, project, or any combination thereof.
(3) "Securities" means bonds, notes, certificates, or other written obligations for the repayment of borrowed money.
Acts 1984, No. 102, §1, eff. June 15, 1984.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1472. Application of provisions

RS 39:1472 - Application of provisions
The powers and rights conferred by this Chapter shall be in addition to the power and rights conferred by any other general or special law. The provisions of this Chapter shall be liberally construed for the accomplishment of its purpose.
Acts 1984, No. 102, §1, eff. June 15, 1984.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1481. Legislative intent

RS 39:1481 - Legislative intent
The legislature recognizes the strong competition among states to attract new business and industry and to grow existing business and industry. It is further recognized that different regions of this state have different characteristics and attributes which are advantageous to specific sectors of the economy. As a result, these regions each have unique challenges and opportunities relative to economic development. The legislature believes that local citizens working through regional economic development organizations are uniquely positioned to support the state's overall economic development efforts by identifying and directing how certain resources are best utilized to take advantage of a region’s distinctive economic potential. It is the intent of the legislature to authorize and direct the execution of cooperative endeavor agreements, in accordance with this Chapter and R.S. 33:9029.2, by and between the state and each of the eight regional economic development organizations where the state will provide economic support to the regional economic development organizations in exchange for the regional economic development organizations providing locally developed and tailored services directly related to attracting new business and industry and growing existing business and industry within their respective regions through the use of funds awarded through the Louisiana Competes Regional Economic Development Program, as provided for in this Chapter. It is further the intent of the legislature to minimize red tape and grant regional economic development organizations the maximum flexibility to utilize grant funds in furtherance of the intent of this Section. The legislature finds and determines that the use of funds are in furtherance of a public purpose.
Acts 2022, No. 556, §1, eff. June 17, 2022.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1482. Definitions

RS 39:1482 - Definitions
For purposes of this Chapter, the following words have the following meanings:
(1) "Grant" means an award from the Louisiana Competes Economic Development Program to a regional economic development organization.
(2) "Louisiana Competes Program" means the Louisiana Competes Regional Economic Development Program.
(3) "Qualified expenditure" shall having the meaning set forth in R.S. 39:1484.
(4) "Regional economic development organization" means any of the following: the Baton Rouge Area Chamber, or its successor; the Central Louisiana Economic Development Alliance, or its successor; Greater New Orleans, Inc., or its successor; the Northeast Louisiana Economic Alliance, or its successor; the North Louisiana Economic Partnership, or its successor; One Acadiana, or its successor; the South Central Planning and Development Commission, or its successor; or the Southwest Louisiana Economic Development Alliance, or its successor.
(5) "Secretary" means the secretary of the Department of Economic Development.
Acts 2022, No. 556, §1, eff. June 17, 2022.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1483. Louisiana Competes Regional Economic Development Program

RS 39:1483 - Louisiana Competes Regional Economic Development Program
A. There is hereby created the Louisiana Competes Regional Economic Development Program to be administered by the Department of Economic Development, to provide grants to regional economic development organizations pursuant to the Louisiana Competes Regional Economic Development Program as established in this Chapter.
B. Each regional economic development organization shall receive an initial grant in the amount of one-eighth of the initial funds appropriated in accordance with the provisions of this Chapter. Each regional economic development organization shall receive all subsequent grants in the amount of one-eighth of the annual funds appropriated or otherwise generated in accordance with the provisions of this Chapter.
C. The secretary shall promulgate administrative rules in accordance with the Administrative Procedure Act to implement the provisions of this Chapter. The rules shall be promulgated in consultation with the eight regional economic development organizations and the Louisiana Chamber of Commerce Foundation.
Acts 2022, No. 556, §1, eff. June 17, 2022.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1484. Qualified expenditures

RS 39:1484 - Qualified expenditures
A. A regional economic development organization shall only utilize grant funds to pay for qualified expenditures related to the furtherance of economic development within the region it represents. Qualified expenditures are limited to site development costs for publicly owned property or other property to the extent allowable under Article VII, Section 14 of the Constitution of Louisiana and other applicable state law.
B. Site development costs include but are not limited to costs incurred for the following:
(1) Studies.
(2) Surveys.
(3) Development of plans and specifications.
(4) Entering into option agreements.
(5) Infrastructure improvements.
(6) Due diligence.
(7) Remediation.
(8) Wetland delineation.
(9) Professional services for architectural, engineering, legal, construction, and financial services related to site development.
C. Without limiting the provisions of Subsections A and B of this Section, a regional economic development organization shall not utilize any monies awarded pursuant to the provisions of this Chapter for any of the following:
(1) Salaries, wages, or benefits.
(2) Travel expenses incurred by the regional economic development organization's officers, employees, or contractors.
(3) Alcohol.
(4) Land, buildings, offices, equipment, or vehicles used primarily for the administrative operations of the regional economic development organization.
Acts 2022, No. 556, §1, eff. June 17, 2022.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1485. Cooperative endeavor agreement; term; public fund matching

RS 39:1485 - Cooperative endeavor agreement; term; public fund matching
A. Within thirty calendar days after adoption of administrative rules promulgated for the implementation of this Chapter, the regional economic development organization and the state shall enter into a cooperative endeavor agreement as provided for in R.S. 33:9029.2. The objectives and intent of each cooperative endeavor agreement shall be in conformity with the objectives and intent of this Chapter. Accordingly, the obligations of the regional economic development organization set forth in the cooperative endeavor agreement shall be limited to the following:
(1) Identifying high-priority sites for the purpose of attracting economic development projects.
(2) Developing high-priority sites for the purpose of attracting economic development projects.
(3) Developing and subsequently providing an annual report of all activities related to the objectives of the cooperative endeavor agreement undertaken in the previous year.
(4) Maintaining records and an accurate accounting of all expenditures.
(5) Adhering to state and federal nondiscrimination laws.
(6) Adhering to the provisions of R.S. 39:1602.1.
(7) Applying a ten percent local match as provided for in Subsection C of this Section.
B. The initial cooperative endeavor agreement with each regional economic development organization shall have an initial term of two years. Thereafter the initial cooperative endeavor agreement with a regional economic development organization shall automatically renew for successive one-year periods until such time as all initial funds provided in the agreement have been expended.
C. A regional economic development organization shall not expend any grant funds without simultaneously applying local matching funds equaling ten percent of the cost being paid. Funds originating from any lawful source other than the state shall constitute local matching funds.
Acts 2022, No. 556, §1, eff. June 17, 2022.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1606. Responsibility of bidders and proposers

RS 39:1606 - Responsibility of bidders and proposers
A. A reasonable inquiry to determine the responsibility of a bidder or proposer may be conducted. The unreasonable failure of a bidder or proposer promptly to supply information in connection with such an inquiry may be grounds for a determination of nonresponsibility with respect to such bidder or proposer.
B. Whenever the chief procurement officer, commissioner, or head of a governmental body with such authority proposes to disqualify the lowest bidder on bids of five thousand dollars or more such individual shall:
(1) Give written notice of the proposed disqualification to such bidder and include in the written notice all reasons for the proposed disqualification.
(2) Give such bidder who is proposed to be disqualified, a reasonable opportunity to be heard at an informal hearing at which such bidder is afforded the opportunity to refute the reasons for the disqualification.
C. Except as otherwise provided by law, information furnished by a proposer pursuant to this Section may not be disclosed outside of the user agency or the office of state procurement without prior written notice to the proposer.
Added by Acts 1979, No. 715, §1, eff. July 1, 1980; Acts 1983, No. 689, §1; Acts 1984, No. 100, §1, eff. July 1, 1985; Acts 2014, No. 864, §2, eff. Jan. 1, 2015.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1607. Prequalification of bidders and proposers

RS 39:1607 - Prequalification of bidders and proposers
The office of state procurement may provide for prequalification of bidders and proposers as responsible prospective contractors. Solicitation mailing lists of potential contractors shall include but shall not necessarily be limited to such prequalified bidders and proposers. Prequalification shall not foreclose a written determination (a) between the time of the receipt of bid or proposal and the making of an award that a prequalified bidder or proposer is not responsible or (b) that a bidder or proposer who is not prequalified at the time of receipt of bid or proposals is responsible.
Added by Acts 1978, No. 772, §1; Acts 2014, No. 864, §3, eff. Jan. 1, 2015; Acts 2014, No. 864, §2, eff. Jan. 1, 2015.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1608. Cost or pricing data

RS 39:1608 - Cost or pricing data
A. Contractor certification. A contractor shall submit cost or pricing data and shall certify that, to the best of its knowledge and belief, the cost or pricing data submitted was accurate, complete, and current as of a mutually determined specified date prior to the date of:
(1) Pricing of any contract awarded by other than competitive sealed bidding, as provided in R.S. 39:1594, or small purchase procedures, as provided in R.S. 39:1596, where the total contract price is expected to exceed an amount established by regulations; or
(2) Pricing of any change order or contract modification which is expected to exceed an amount established by regulations.
B. Price adjustment. Any contract, change order, or contract modification under which a certificate is required shall contain a provision that the price to the state, including profit or fee, shall be adjusted to exclude any significant sums by which the procurement officer finds that such price was increased because the contractor-furnished cost or pricing data was inaccurate, incomplete, or not current as of the date agreed upon between the parties.
C. Cost or pricing data not required. The requirements of this Section need not be applied to contracts:
(1) Where the contract price is based on adequate price competition.
(2) Where the contract price is based on an established catalog price or market prices established by an analysis of commercial items sold to the general public.
(3) Where contract prices are set by law or regulation.
(4) In exceptional cases where it is determined in writing in accordance with regulations that the requirements of this Section may be waived, and the reasons for such waiver are stated in writing.
Acts 2008, No. 598, §2, eff. July 1, 2008; Acts 2009, No. 433, §2; Acts 2014, No. 864, §2, eff. Jan. 1, 2015.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1611. Cost-plus-a-percentage-of-cost contracts

RS 39:1611 - Cost-plus-a-percentage-of-cost contracts
The cost-plus-a-percentage-of-cost system of contracting shall not be used.
Added by Acts 1979, No. 715, §1, eff. July 1, 1980; Acts 2014, No. 864, §2, eff. Jan. 1, 2015.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1612. Cost-reimbursement contracts

RS 39:1612 - Cost-reimbursement contracts
A. Determination required prior to use. No cost-reimbursement prime contract may be made unless it is determined in writing in accordance with regulations that such contract is likely to be less costly to the state than any other type of contract or that it is impracticable to obtain supplies, services, or major repairs of the kind or quality required except under such a contract.
B. Reimbursement of costs. All cost-reimbursement contracts shall contain a provision that only costs recognized as allowable in accordance with cost principles set forth in regulations will be reimbursable.
C. Prior notice requirement concerning use of cost-reimbursement type subcontract. Each contractor under a cost-reimbursement type contract shall give notice, as provided for in the contract, before entering into (1) a cost-reimbursement type subcontract or (2) any other type of subcontract involving more than ten thousand dollars or ten percent of the estimated cost of the prime contract.
Added by Acts 1979, No. 715, §1, eff. July 1, 1980; Acts 2014, No. 864, §2, eff. Jan. 1, 2015.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1613. Reimbursement of costs for professional, personal, consulting, and social services contracts

RS 39:1613 - Reimbursement of costs for professional, personal, consulting, and social services contracts
A. All cost-reimbursement type contracts shall contain a provision that only costs recognized as allowable in accordance with cost principles set forth in rules and regulations, issued pursuant to Part IV of this Chapter will be reimbursable.
B. Payments may be made to the contractor for professional, personal, consulting, and social services contracts in advance of services being performed if the following conditions are met:
(1) The using agency has submitted, in writing, to the division of administration, office of state procurement, a certification that an advance is necessary in order to provide the services at the lowest total cost and that there is no other cost-effective source of such advance funding. The certification shall include a narrative setting out the facts which necessitate the advance funding.
(2) The advance is approved by the state chief procurement officer.
(3) Except as may be otherwise provided by law, the amount of such advance shall be limited to a sum not to exceed twenty percent of the total contract amount, excluding travel advances which shall be governed by applicable regulations.
(4) The contractor is a nonprofit corporation.
C. If local matching funds are available to fund the advance, no state monies shall be advanced through the contract.
D. If federal funds are used for the advance, federal regulations and statutes shall govern the use and amounts of advance payments made.
E. Interagency contracts as defined in R.S. 39:1556(30) are exempt from the provisions of Subsections B and C of this Section.
F. The provisions of this Section shall not be construed to authorize payments in advance of services to be performed pursuant to a professional service contract.
G. State funds may be expended to fund the advance only in the same fiscal year in which the funds are appropriated.
Added by Acts 1978, No. 772, §1; Acts 1979, No. 715, §1, eff. July 1, 1980; Acts 1986, No. 721, §1; Acts 1999, No. 590, §1, eff. June 30, 1999. Amended by Acts 1981, No. 452, §1; Acts 2014, No. 864, §2, eff. Jan. 1, 2015.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1614. Approval of accounting system

RS 39:1614 - Approval of accounting system
Except with respect to firm fixed-price contracts, no contract type shall be used unless it has been determined in writing by the chief procurement officer or his designee that:
(1) The proposed contractor's accounting system will permit timely development of all necessary cost data in the form required by the specific contract type contemplated.
(2) The contractor's accounting system is adequate to allocate costs in accordance with generally accepted accounting principles.
Added by Acts 1979, No. 715, §1, eff. July 1, 1980; Acts 2014, No. 864, §2, eff. Jan. 1, 2015.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1616. Installment-purchase contract

RS 39:1616 - Installment-purchase contract
The central purchasing agency may, on behalf of any governmental body, enter into contracts for the installment purchase of supplies or equipment, including but not limited to data processing equipment and telecommunications equipment, procured under this Chapter and any other applicable laws on the procurement of supplies or equipment, in accordance with the following provisions:
(1) All installment-purchase contracts shall be entered into utilizing the requisite procedures applicable to the particular supply or equipment being procured.
(2) The term of such contract shall not exceed the economic life to the item or items being procured, which shall be established by the central purchasing agency and shall be set forth in the invitation to bid or request for proposal, but in no case shall the term of the contract exceed five years.
(3) Each contract shall contain an annual appropriation dependency clause which shall provide that the continuation of the contract is contingent upon the continuation of an appropriation of funds by the legislature to fulfill the requirements of the contract. If the legislature fails to appropriate sufficient monies to provide for the continuation of the contract or if a veto or reduction of appropriation of funds necessitates the discontinuance of the contract, the contract shall terminate on the last day of the fiscal year for which funds were appropriated, in accordance with R.S. 39:1615(C).
(4) Such contracts shall also conform to any other requirements which may be established by the central purchasing agency through rules and regulations, promulgated in accordance with law.
Acts 1985, No. 995, §2, eff. July 23, 1985; Acts 2014, No. 864, §2, eff. Jan. 1, 2015.
{{NOTE: SEE ACTS 1985, NO. 955, §3, EFF. JULY 23, 1985.}}
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1617. Professional service contracts

RS 39:1617 - Professional service contracts
Contracts for professional services may be awarded without the necessity of competitive bidding or competitive negotiation.
Added by Acts 1978, No. 772, §1; Acts 2014, No. 864, §2, eff. Jan. 1, 2015.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1618. Contractual attorney's fees; affidavit

RS 39:1618 - Contractual attorney's fees; affidavit
Each attorney hired on a contractual basis for professional services shall submit his fee by sworn affidavit. The affidavit shall contain a detailed statement of the number of hours actually worked, giving the dates and time of day, and a description of the work performed. No contract fee shall be paid unless submitted by affidavit as provided herein.
Added by Acts 1978, No. 772, §1; Acts 2014, No. 864, §2, eff. Jan. 1, 2015.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1620. Personal service contracts

RS 39:1620 - Personal service contracts
Contracts for personal services may be awarded without the necessity of competitive bidding or competitive negotiation.
Added by Acts 1978, No. 772, §1; Acts 2014, No. 864, §2, eff. Jan. 1, 2015.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1621. Consulting service contracts

RS 39:1621 - Consulting service contracts
A. Contracts for consulting services which have a total maximum amount of compensation less than seventy-five thousand dollars for a twelve-month period may be awarded without the necessity of competitive bidding or competitive negotiation.
B. Contracts for consulting services which have a total maximum amount of compensation of seventy-five thousand dollars or more for a twelve-month period shall be awarded through a request for proposal or reverse auction process under rules and regulations issued by the office of state procurement. Service requirements shall not be artificially divided so as to exempt contracts from the request for proposal process.
C.(1) All contracts for consulting services which have a total maximum amount of compensation of two hundred twenty-five thousand dollars or more may be entered into with the assistance of a procurement support team as provided herein, and in accordance with guidelines promulgated and published by the office of state procurement.
(2) For each such consulting contract the office of state procurement may establish a procurement support team which shall include one or more representatives from each of the following:
(a) The office of state procurement.
(b) The using agency initiating the contract.
(c) The office of the attorney general.
(d) The legislative fiscal office.
(3) Participation of the procurement support team must include, at a minimum, assistance in development or review of the request for proposals, evaluation of responses received to the request for proposals, and formulation of recommendations to be submitted to the state chief procurement officer concerning the final contract.
Added by Acts 1978, No. 772, §1; Acts 1985, No. 673, §1; Acts 1987, No. 603, §1; Acts 1997, No. 1424, §1, eff. July 15, 1997; Acts 2014, No. 864, §2, eff. Jan. 1, 2015; Acts 2020, No. 273, §2, eff. June 11, 2020; Acts 2021, No. 102, §2.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1623. Certification by using agency

RS 39:1623 - Certification by using agency
A. Upon seeking approval to enter into a proposed professional, personal, consulting, or social service contract valued in excess of five thousand dollars, an individual or individuals specifically designated by the head of the using agency for such purpose shall certify to the state chief procurement officer that:
(1) Either no employee of that agency is both competent and available to perform the services called for by the proposed contract or the services called for are not the type readily susceptible of being performed by persons who are employed by the state on a continuing basis.
(2) The services are not available as a product of a prior or existing professional, personal, consulting, or social service contract.
(3) The requirement for consultant and social services contracts, when applicable, have been publicized pursuant to R.S. 39:1595(B).
(4) The using agency has developed and fully intends to implement a written plan providing for:
(a) The assignment of specific using agency personnel to a monitoring and liaison function.
(b) The periodic review of interim reports or other indicia of performance to date.
(c) The ultimate use of the final product of the services.
(5) The cost basis for the proposed contract.
(6) A description of the specific objectives or deliverables associated with the proposed contract and the monitoring plan therefor.
(7) Methods to be used to measure and determine contract performance.
(8) The Board of Regents has been notified in accordance with R.S. 39:136 of possible services called for that are the type readily susceptible of being performed by persons who are employed by or students of a postsecondary institution of the state.
B. In addition to the certifications required in Subsection A herein, for any proposed professional, personal, consulting, or social service contract that exceeds fifty thousand dollars and has a term of more than six months, a cost-benefit analysis shall be conducted which indicates that obtaining such services from the private sector is more cost-effective than providing such services by the using agency itself or by an agreement with another state agency, to include both a short-term and long-term analysis. The state chief procurement officer shall promulgate, as necessary, rules and regulations relative to the form and content of a cost-benefit analysis.
Added by Acts 1978, No. 772, §1. Amended by Acts 1982, No. 206, §1; Acts 1985, No. 673, §1; Acts 1997, No. 1424, §1, eff. July 15, 1997; Acts 2006, No. 592, §1; Acts 2014, No. 864, §2, eff. Jan. 1, 2015; Acts 2015, No. 395, §1, eff. Sept. 1, 2015.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1624. Approval of contract; penalties

RS 39:1624 - Approval of contract; penalties
A. Before approving a proposed contract for professional, personal, consulting, or social services, the state chief procurement officer or an assistant shall have determined that:
(1) All provisions of R.S. 39:1623 have been complied with.
(2) The using agency has statutory authority to enter into the proposed contract.
(3) The contract will not establish an employer/employee relationship between the state or the using agency and any prospective contractor.
(4) No current state employee will engage in the performance of the proposed contract except as provided for in R.S. 39:1626.
(5) No using agency has previously performed or contracted for the performance of tasks which would be substantially duplicated under the proposed contract without appropriate written justification.
(6) There has been appropriated or otherwise lawfully made available and ready for expenditure sufficient monies for payment of the services called for in the contract, at least for the applicable fiscal year.
(7) The contracting using agency has specified the purpose, duration, specific goals and objectives, measures of performance, and a plan for monitoring the services to be provided under the contract.
(8) The using agency has a written plan for the monitoring of the contract and such monitoring plan has been submitted in accordance with rules and regulations adopted by the office of state procurement.
(9) The provisions of R.S. 12:25(E) have been complied with, if the contract is with a business corporation, the provisions of R.S. 12:205(E) have been complied with, if the contract is with a nonprofit corporation, or the provisions of R.S. 12:304(A)(11) have been complied with, if the contract is with a foreign corporation.
(10) The prospective contractor is current in the filing of all applicable tax returns and reports, and in payment of all taxes, interest, penalties, and fees owed to the state and collected by the Department of Revenue in accordance with R.S. 47:1678.
B. Any corporation that fails to make complete disclosure of ownership, directors, and officers as required by law shall be required, as a penalty, to refund any funds received by that corporation from the state for the contract.
Acts 1991, No. 944, §1; Acts 1997, No. 739, §1, eff. July 1, 1997; Acts 2014, No. 864, §2, eff. Jan. 1, 2015; Acts 2017, No. 211, §1, eff. June 14, 2017.
2023 Louisiana Laws › Revised Statutes › Title 39 - Public Finance › §39:1625. Contract content

RS 39:1625 - Contract content
Each contract for professional, personal, consulting, or social services entered into by a governmental body as defined in R.S. 39:1556(24) shall contain as a minimum: description of the work to be performed and objectives to be met; amount and time of payments to be made; description of reports or other deliverables to be received, when applicable; date of reports or other deliverables to be received, when applicable; responsibility for payment of taxes, when applicable; circumstances under which the contract can be terminated either with or without cause; remedies for default; and a statement giving the legislative auditor the authority to audit records of the individual or firm.
Added by Acts 1979, No. 715, §1, eff. July 1, 1980; Acts 2014, No. 864, §2, eff. Jan. 1, 2015.