A.  The district and the city of New Orleans shall enter into an agreement to provide funds to the district by the city in exchange for the district performing its duties under this Chapter.  Such agreement shall provide that the city shall budget annually, subject to appropriation by the city council, the amount of funds payable to the district for the duration all as set forth in such agreement.  The city shall use any lawfully available funds for such purpose.  Such agreement shall be deemed to be a legal obligation of the parties thereto to perform and the benefits to each shall be deemed to be in fulfillment of a public purpose with a commensurate value to each party presumed.

B.  The district may levy impact fees for development of properties within the district based on rules of the district relative thereto, subject to the approval of the council of the city of New Orleans and as allowed by general law.

C.  As part of any negotiated transaction involving the district and a private entity, and in the event the private entity advances project costs to be reimbursed by the district, the district may execute a cooperative endeavor agreement committing a percentage of new tax receipts to be shared to reimburse such advances.

D.  The district may fix and revise from time to time and charge and collect rates, rents, fees, and charges for the use of and for the services furnished or to be furnished by a project of the district or any portion thereof, and to contract with any other person, partnership, association, or corporation or other body, public or private in respect thereto.

E.  The district may negotiate and charge to primary and participating institutions, in such manner as it may determine, administrative costs and expenses incurred by the district but only when requested to facilitate a project with which such requesting primary and participating institutions to be charged have voluntarily elected to participate.

Acts 2005, No. 487, §1, eff. July 12, 2005.