RS 33:4546.3

§4546.3. Powers of the authority A. The authority shall have all of the rights and powers necessary to carry out and effectuate the purposes and provisions of this Chapter. Without limiting the generality of the foregoing, the authority, as a political subdivision of the state of Louisiana with full corporate powers, shall have the following rights and powers: (1) To adopt bylaws or rules for the regulation of its affairs and the conduct of its business, and name and designate an executive director to administer the affairs of the authority. (2) To adopt an official seal and alter the same at its pleasure. (3) To maintain an office at such place or places as it may designate. (4) To sue and be sued. (5) To receive, administer, and comply with the conditions and requirements respecting any gift, grant, or donation of any property or money. (6) To study, plan research, and develop plans for the purchase, sale, transportation, exchange, storage, transmission, or distribution of natural gas at wholesale to and for the benefit of participating political subdivisions. (7) To acquire by purchase, lease, gift, or otherwise, or to obtain options for the acquisition of, any property, real or personal, improved or unimproved, including any interest in land. To purchase natural gas in place and contracts for natural gas, and to acquire or construct natural gas pipelines and related facilities for the purchase, sale, transportation, exchange, storage, transmission, or distribution of natural gas and to acquire natural gas storage facilities. (8) To sell, lease, exchange, transfer, or otherwise dispose of, or to grant options for any such purposes with respect to, any real or personal property or interest therein. (9) To accept advice, services, and money from any political subdivision directly interested in the affairs or operations of the authority or facilities owned or operated by the authority. (10) To apply and contract for and to expend assistance from the United States or other public or private sources, whether in form of a grant or loan or otherwise. (11) To fix charges and collect rents, rates, fees, and charges for the sale and transmission of natural gas and for the use of or for the other service, facilities, and commodities sold, furnished or supplied by the authority. (12) To borrow money and issue revenue bonds of the authority. (13) To pledge or assign any monies, fees, rents, charges or other revenues and any proceeds derived by the authority from the sales of bonds or property, and any contracts or other rights of the authority. (14) To contract with respect to municipal bond insurance, bank guarantees, surety bonds, letters of credit, contracts commonly known as interest rate and commodity or other swap agreements, forward payment conversion agreements, futures or contracts providing for payments based on levels of or changes in interest rates or commodity prices, contracts to exchange cash flows or a series of payments or contracts, including without limitation options, puts or calls to hedge, payment, rate, spread, or similar exposure and other devices to enhance the credit quality of obligations or securities of public entities or to lower or stabilize the acquisition cost of natural gas and to enter into local service agreements with political subdivisions with respect thereto. (15) The authority created under the provisions of this Chapter is hereby vested with the authority to exercise the power of expropriation to the same extent as all other public utilities in the state of Louisiana in accordance with R.S. 19:1 et seq. B. The authority shall not be construed to be a regulated public utility and the Louisiana Public Service Commission shall have no authority with respect to the operations of the authority nor the fees and charges made by the authority for the purchase, sale, and transmission of natural gas. C. The authority may advertise for or negotiate for the purchase of natural gas and interests and execute one or more natural gas purchase contracts, all without the necessity of compliance with the provisions of R.S. 38:2211 et seq. D. The authority may enter into local service agreements with the participating political subdivisions through which the said political subdivisions may agree to share in the costs of operating the authority and to pay such charges and fees, as may be imposed by the authority for the purchase, sale, transportation, exchange, storage, distribution, or transmission of natural gas, including the purchase, lease, or other acquisition of any interest or the incurrence of any cost necessary in connection therewith. E. The authority may sell or exchange natural gas not then required by participating political subdivisions under such local service agreements with the authority for such consideration and for such period and upon such other terms and conditions as may be determined by the authority, to any person, firm, association, or corporation, public or private. Acts 1987, No. 658, §1; Acts 1988, No. 412, §1; Acts 1988, No. 738, §1; Acts 1990, No. 666, §1.