RS 3101 - Object; purpose of Chapter
A. It is the object and purpose of this Chapter to provide for the creation of a state agency of the state of Louisiana, possessing full corporate powers, known as the Offshore Terminal Authority, hereinafter referred to as the "authority", to promote, plan, finance, develop, construct, control, license, regulate, supervise, operate, manage, maintain and/or modify offshore terminal facilities within the jurisdiction of said authority in order to promote the economic welfare of its citizens. It is hereby declared to be in the public interest that this offshore terminal authority be created as a state agency of the state of Louisiana.
B. It is further the object and purpose of this Chapter:
(1) To promote the economic and industrial well being of the state of Louisiana and international trade for the state of Louisiana, its subdivisions and the area served by the Mississippi River and its tributaries;
(2) To promote the industrial and petrochemical base of the Mississippi Valley region of the United States by providing adequate deep draft port facilities for the handling of the cargoes of deep draft vessels;
(3) To promote, in addition to port operations, scientific and all other uses directly related to the offshore terminal facilities which shall be in the public interest;
(4) To accommodate and plan for the technological innovations occurring in the worldwide and domestic shipping industry to increase efficiency and the flow of commerce through the offshore terminal facilities;
(5) To protect environmental values and Louisiana's unique coastal marshland ecosystem through the adoption of an environmental protection plan;
(6) To assert and protect Louisiana's economic, social and environmental interests in the development of any offshore terminal facilities outside the state of Louisiana where such development may have an impact upon the state of Louisiana;
(7) To create a state agency of the state of Louisiana to exercise the powers and functions granted hereby and to serve as an agency to assist licensees, as hereinafter defined, in the financing of deepwater ports and offshore terminal facilities. The functions exercised by the authority empowered herein shall be deemed to be governmental functions and public obligations of the state of Louisiana performed on behalf of the state.
(8) To assure that the authority shall not be required to pay any taxes or assessments on any property acquired or used by it under the provisions of this chapter or upon the income therefrom. Any bonds issued hereunder shall be serviced from the income of said facility and shall be exempt from taxation by the state of Louisiana, and by any municipal or political subdivision of the state.
Added by Acts 1972, No. 444, §1; Amended by Acts 1974, No. 358, §2; Acts 1976, No. 378, §1; Acts 1977, 1st Ex. Sess., No. 11, §1, eff. Aug. 17, 1977; Acts 2011, No. 207, §10(A).