Terms Used In Louisiana Revised Statutes 34:27

  • Contract: A legal written agreement that becomes binding when signed.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC

The Board of Commissioners of the Port of New Orleans may, by ordinance, contract, or otherwise, change the dedication of particular parcels or portions of lands and property under its administration or control from a state to a federal use; and sell, lease or otherwise alienate to the United States Government, or any department thereof, any of said lands and property which may be needed for federal purposes.