Notwithstanding any law to the contrary, any convention and visitors bureau designated in La. Rev. Stat. 33:4574(B) within a territory of a parish with a population of not less than one hundred sixty-five thousand and not more than two hundred forty thousand, based on the latest federal decennial census, shall have all powers necessary or convenient to effectuate its purposes, including but not limited to the following rights and powers:

(1)  To acquire, purchase, lease as lessee, and hold and use any property, movable or immovable, tangible or intangible, or any interest therein necessary or desirable for carrying out its purposes, and to sell, lease as lessor, transfer, or dispose of any property or interest therein owned by it and to sublease any property or interest therein leased by it.

(2)  To acquire by purchase, lease, or otherwise and to construct, develop, maintain, and operate buildings and other facilities necessary or desirable for carrying out its objectives.

(3)  To enter into contracts or cooperative endeavors with any persons, corporations, associations, or other entities, including public corporations, political subdivisions, the United States government and the agencies thereof, the state and the agencies thereof, or any combination thereof for the operation or use of its properties and for carrying out its objectives, including but not limited to contracts and agreements under which it is paid for providing goods and services related to its objectives and under which it has expenses for projects related to its objectives.

(4)  To enter into contracts or cooperative endeavors with any public or private entity for carrying out its objectives including, but not limited to contracts for constructing or acquiring property.

(5)  To incur debt for any purpose necessary or desirable for carrying out its objectives even if those monies cannot be paid out of the revenues anticipated to be collected during the year in which the monies are borrowed.

(6)  To pledge all or any part of its revenues, income, receipts, or funds, including but not limited to the occupancy tax authorized by La. Rev. Stat. 33:4574.1.1 and any monies appropriated from any fund created in Chapter 2-B of Subtitle II of Title 47 of the Louisiana Revised Statutes of 1950 and to pledge or mortgage its properties as collateral or security for any indebtedness.

(7)  To incur debt and issue certificates of indebtedness and bonds necessary or desirable for carrying out its objectives which are authorized under state law. The certificates of indebtedness and bonds shall not be invalid for any irregularity or defect in the proceedings providing for their issuance, shall be incontestable in the hands of bona fide purchasers for value, and no court shall have authority or jurisdiction to inquire into the legality thereof if the validity of the certificates or bonds is not raised within thirty days from date of publication of the resolution providing for their issuance.

Acts 1997, No. 704, §1, eff. July 1, 1997.