RS 778 - Special taxes
A. Pursuant to Article VI, Section 30 of the Constitution of Louisiana, the board of commissioners may levy an ad valorem tax or taxes for a term as determined by the board of commissioners, for the purpose of acquiring, constructing, improving, equipping, furnishing, maintaining, or operating any work of public improvement, including both movable and immovable property necessary in connection with road and bridge projects, which shall include a new Mississippi River bridge located within the boundaries of the district.
B. For the purpose of providing revenue to carry out the objects contemplated in this Part, the board of commissioners may levy on all property in the district, subject to taxation, an ad valorem tax not to exceed five mills on the dollar of its assessed valuation, as provided by Article VI, Section 19 of the Constitution of Louisiana. The tax may be levied only after the question of its levy has been submitted to the qualified electors of the district or subdistrict at an election held for that purpose and conducted in accordance with the Louisiana Election Code and the majority of those voting in each parish comprising the district or subdistrict have voted in favor of the levy of the tax.
C.(1) Subject to the approval of the State Bond Commission, the governing authority of the district shall have the authority to incur debt and issue revenue bonds for the purpose of constructing, acquiring, extending, or improving works of capital improvement related to roads and other similar public works, which shall include a new Mississippi River bridge located within the boundaries of the district.
(2) Such bonds shall be authorized and issued in accordance with the provisions of Part XIII of Chapter 4, Chapter 13, and Chapter 13-A, all of Title 39 of the Louisiana Revised Statutes of 1950. Such bonds shall be issued in the name of the district and shall not be general obligations of the district, Ascension Parish, East Baton Rouge Parish, Iberville Parish, Livingston Parish, West Baton Rouge Parish, or the state of Louisiana.
(3) Such bonds shall be issued by the commission of the district only after authorization by a majority of the electors of the district voting in an election held in accordance with the election laws of the state of Louisiana.
Acts 2018, No. 488, §1, eff. May 25, 2018.