Abstract: Creates the Bastrop Economic Development District.
Proposed law creates the Bastrop Economic Development District to provide for cooperative
economic development between the district, the city of Bastrop, Morehouse Parish, the state, and the
owner or owners of property within the district in order to provide for costs related to infrastructure
and other economic development initiatives.
Proposed law specifies the district's boundaries and provides that the governing authority of Bastrop
governs the district.
Proposed law authorizes the district to exercise power necessary or convenient for carrying out its
objects and purposes including:
(1) To sue and to be sued.
(2) To adopt bylaws and rules and regulations.
(3) To receive gifts, grants, and donations.
(4) To enter contracts, agreements, or cooperative endeavors.
(5) To appoint officers, agents, and employees, prescribe their duties, and fix their
compensation.
(6) To acquire or lease property as necessary or desirable for carrying out the objectives and
purposes of the district and to mortgage and sell such property.
(7) To incur debt.
(8) To establish funds or accounts as necessary for the conduct of its affairs.
(9) To designate territory within the district as a subdistrict in which shall be exercised, to the
exclusion of the remainder of the district, any authority provided to the district.
Proposed law authorizes the district to fund infrastructure projects through tax increment financing.
Proposed law authorizes the district to construct and acquire facilities and to acquire, construct,
improve, operate, maintain, and provide improvements and services necessary therefor, including
but not limited to roads, street lighting, bridges, rail facilities, drainage, sewage disposal facilities,
solid waste disposal facilities, waterworks, and other utilities and related properties. Authorizes the
district to sell, lease, or otherwise dispose of to any enterprise located or existing within the district
all or any part of a site, building, or other property owned by the district.
Proposed law authorizes the district to levy ad valorem and sales taxes, subject to voter approval.
Authorizes the district, subject to approval of the State Bond Commission, to issue bonds, notes,
certificates of indebtedness, or other evidences of debt, and to provide for the security and payment
thereof. Provides requirements and procedures regarding such debt.
(Adds R.S. 33:9038.73)