RS 40:599.6

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RS 40:599.6

§599.6. Powers

A. Except as limited by the authority's articles of incorporation, an authority has all the powers specified in this Part.

B. An authority may:

(1)Adopt, amend, and repeal bylaws for the conduct of business of the authority.

(2)Sue and be sued.

(3)Maintain an office at a place the authority designates.

(4)Borrow money.

(5)Issue bonds and other obligations for any corporate purpose in accordance with this Subtitle or an ordinance adopted under this Subtitle.

(6)Invest money of the authority in instruments, obligations, securities, or property.

(7)Enter into contracts and execute the instruments or agreements necessary or convenient to carry out this Part or an ordinance adopted under this Part to accomplish the purposes of the authority.

(8)Solicit and accept gifts, grants, loans, or other assistance in any form from any public or private source, subject to this Subtitle or any ordinance adopted under this Part.

(9)Participate in a program of the federal government, the state, a political subdivision of the state, or an intergovernmental entity created under state law.

(10)Contract for goods and services.

(11)Study, develop, and prepare reports or plans to assist in the authority's exercise of powers and to monitor and evaluate the authority's progress.

(12)Contract with public or private entities for services necessary to manage and operate the authority.

(13)Provide acquisition, management, and sale services to a local government for property owned by the local government.

(14)Create, own, control, or be a member of a corporation, limited liability company, partnership, or other person, whether operated for profit or not for profit, for the purposes of development property in order to maximize marketability.

(15)Exercise a power usually possessed by a private corporation in performing similar functions, unless to do so would conflict with state law.

(16)Insure against losses in connection with the real property, assets, or activity of the authority.

(17)Design, develop, construct, demolish, rehabilitate, renovate, relocate, and otherwise improve real property or interest in real property.

(18)Raise revenue by a legal means required to make the operations and activities of the authority self-sustaining.

(19)Do all things necessary or convenient to carry out the powers expressly granted by this Subtitle or by an ordinance adopted under this Part.

C. An authority may delegate to a member or officer a power granted to the authority by this Part, including the power to execute a bond, obligation, certificate, deed, lease, mortgage agreement, or other document or instrument.

Acts 2025, No. 443, §1.