AI-assisted research summary: The authority must follow specified Louisiana laws, and the board must prepare and share annual financial and budget documents with parish officials.
§130.261. General compliances; enhancement; budget A. No provision of this Subpart shall be construed so as to exempt the authority from compliance with the provisions of Louisiana laws pertaining to open meetings, public records, fiscal agents, official journals, dual officeholding and employment, public bidding for the purchase of supplies and materials and construction of public works, the Code of Governmental Ethics, the Right to Property in Article I, Section 4 of the Constitution of Louisiana, and the Louisiana Election Code. B. The authority shall have the power and right to adopt a program or programs awarding contracts to, and establishing set-aside goals and preference procedures for the benefit of, businesses owned and operated by socially or economically disadvantaged persons in accordance with any of the provisions of R.S. 38:2233 and of Chapter 19 of Title 39 of the Louisiana Revised Statutes of 1950, entitled "Louisiana Minority and Women's Business Enterprise Act". C.(1) The board shall annually prepare a financial statement which shall be presented to the legislative auditor pursuant to the provisions of R.S. 24:513. The legislative auditor shall thereafter publish his findings in the official journal of the authority. (2) Within thirty days following submission of the financial statement to the legislative auditor, the board, or a designated officer of the board, shall present to the governing authority of the parish of Terrebonne at a public meeting a copy of such statement for public review. D. The board shall submit to the governing authority of the parish of Terrebonne an annual proposed budget for the operation of the authority for the upcoming fiscal year. The budget shall be deemed accepted unless rejected by two-thirds vote of the parish governing authority. After the budget has been accepted by the parish governing authority, the authority may incur liabilities and make expenditures during the fiscal year in accordance with such budget. E. All expenses associated with this Section shall be borne by the authority. Acts 1989, No. 2, §1, eff. June 1, 1989; Acts 2004, No. 622, §1, eff. July 1, 2004; Acts 2005, No. 462, §1, eff. July 1, 2005; Acts 2015, No. 191, §1.