A.  The commission, acting by and through its board, shall have and exercise all powers of a political subdivision necessary or convenient for the carrying out of its objects and purposes, including but not limited to the following rights and powers:

(1)  To sue and be sued.

(2)  To adopt, use, and alter at will a corporate seal.

(3)(a)  To acquire by donation, grant, purchase, or lease, all property including servitudes or rights of use; to hold and use any franchise or property, immovable or movable, corporeal or incorporeal, or any interest therein, necessary or desirable for carrying out the objects and purposes of the commission, including but not limited to the establishment, maintenance, and operation of industrial parks.

(b)  Nothing in this Paragraph shall be construed to apply to electric cooperatives or investor owned public utilities that are regulated by the Louisiana Public Service Commission or the city of New Orleans.

(4)  To receive by grant, donation, or otherwise any sum of money, or property, aid, or assistance from the United States, the state of Louisiana, or any political subdivision thereof, or any person, firm, or corporation.

(5)  To enter into contracts for the purchase, acquisition, construction, maintenance, and improvement of works and facilities necessary in connection with the purposes of the commission.

(6)  In its own name and on its own behalf to incur debt and to issue general obligation bonds, revenue bonds, certificates, notes, and other evidences of indebtedness and to levy and cause to be collected ad valorem taxes as provided in this Subpart and as may be provided by general law.

(7)  To require and issue licenses with respect to its properties and facilities.

(8)  To regulate the imposition of fees and rentals charged by the commission for its facilities and for services rendered by it.

(9)  To mortgage properties constructed or acquired and to borrow money and pledge all or part of its revenues, leases, rents, or other advantages as security for such loans.

(10)  To sell immovable property owned by the commission after legal notice as provided by law for the judicial sale of immovable property.

(11)  To contract, upon such terms as it may agree upon, for legal, financial, engineering, and other professional services necessary or expedient in the conduct of its affairs.

(12)  To utilize the services of the executive departments of the state upon mutually agreeable terms and conditions.

(13)  To do any and all things necessary or proper for the government, regulation, development, and control of the business of the commission.

B.  The commission shall not be considered to be an instrumentality of the state for purposes of La. Const. Art. X, § 1 .

C.  Any contract or agreement entered into by the board shall comply with state law and public policy.

D.  No action or work undertaken by the board or contract or agreement entered into by the board shall violate the master plan of the Coastal Protection and Restoration Authority or any statewide drainage and flood control plan administered by the Department of Transportation and Development.

Acts 2014, No. 834, §1, eff. June 23, 2014.