§ 39:99.26 Title
§ 39:99.27 (1) “Agreement” means the agreement or agreements, as authorized under this Subpart, between the state of Louisiana, as the seller, and the corporation, as the purchaser, of the reve
§ 39:99.28 Corporation created; domicile; fiscal year
§ 39:99.29 A. The board of the corporation shall exercise all powers, rights, and duties conferred by this Subpart or other provisions of law upon the corporation. The board shall consist of th
§ 39:99.30 A. The corporation’s purposes are, and it shall have the authority and powers, to carry out the financing, purchasing, owning, and managing of the Offshore Royalty Revenues and the O
§ 39:99.31 Corporate existence; dissolution
§ 39:99.32 Staff; counsel; assistance by state officers, departments and agencies; auditors; consultants
§ 39:99.33 Exemption from taxation
§ 39:99.34 Bankruptcy
§ 39:99.35 Exclusive jurisdiction and venue; service of process; bond validation actions
§ 39:99.36 Sale of offshore royalty revenue assets
§ 39:99.37 Ownership of Offshore Royalty Revenue assets and Offshore Royalty Revenue payments
§ 39:99.38 A. In order to provide current assets and funds for the Coastal Protection and Restoration Fund pursuant to this Subpart for the benefit of the state, the board is hereby authorized
§ 39:99.39 Security for payment of bonds; provisions of trust indenture or resolution
§ 39:99.40 Ancillary contracts and derivative instruments
§ 39:99.41 A. Sale of DWH NRD assets. (1) The State Bond Commission, subject to approval of the Joint Legislative Committee on the Budget and subject to approval by a majority vote of the legis
§ 39:99.42 A. Sale of RESTORE assets. (1) The State Bond Commission, subject to approval of the Joint Legislative Committee on the Budget and subject to approval by a majority vote of the legis
§ 39:99.43 The bonds, their transfer and the income therefrom, including any profit made on the sale thereof, shall at all times be free and exempt from taxation by the state of Louisiana and b
§ 39:99.44 All proceeds and monies received by the state, whether received as purchase price for assets sold or as the residual interests or in any other way pursuant to this Subpart, shall be
§ 39:99.45 A. The state covenants and agrees with the corporation, and the holders of the bonds in which the corporation has included such pledge and agreement, that the state will (i) irrevoca
§ 39:99.46 This Subpart and all powers granted hereby shall be liberally construed to effectuate its and their purposes, without implied limitations thereon. This Subpart shall constitute full

Terms Used In Louisiana Revised Statutes > Title 39 > Subtitle I > Chapter 1 > Part II-A > Subpart F-1 - Louisiana Coastal Protection and Restoration Financing Corporation

  • Agency: means any state office, department, board, commission, institution, division, officer or other person, or functional group, heretofore existing or hereafter created, that is authorized to exercise, or that does exercise, any functions of the government of the state in the executive branch, but not any governing body or officer of any local government or subdivision of the state, or any parochial officer who exercises functions coterminous with the municipality in which he performs those functions. See Louisiana Revised Statutes 39:2
  • Agreement: means the agreement or agreements, as authorized under this Subpart, between the state of Louisiana, as the seller, and the corporation, as the purchaser, of the revenue assets. See Louisiana Revised Statutes 39:99.27
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Ancillary contracts: means contracts described in La. See Louisiana Revised Statutes 39:99.27
  • Aquaculture: means the producing, raising, managing, harvesting, transporting, or marketing of aquatic livestock in privately owned waters or ponds as defined in La. See Louisiana Revised Statutes 3:559.3
  • Aquatic livestock: means domestic aquatic, nongame, native, freshwater organisms produced, raised, managed, or harvested within or from a constructed impoundment in compliance with rules and regulations adopted pursuant to this Part. See Louisiana Revised Statutes 3:559.3
  • Aquatic producer: means any person engaged in producing, raising, managing, harvesting, or marketing aquatic livestock. See Louisiana Revised Statutes 3:559.3
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • bait: means any substance that is manufactured or processed into a substantially different form than the raw materials and is sold for the purpose of attracting crawfish to traps. See Louisiana Revised Statutes 3:556.2
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Beneficiary: means the eligible recipient of a pension, annuity, retirement allowance, or other benefit provided in this Chapter. See Louisiana Revised Statutes 11:701
  • Board: means the Louisiana Crawfish Promotion and Research Board. See Louisiana Revised Statutes 3:556.2
  • Board: means the board of the corporation. See Louisiana Revised Statutes 39:99.27
  • Board of trustees: means the board provided for in Part V of this Chapter to administer the retirement system. See Louisiana Revised Statutes 11:701
  • Bonds: means bonds and refunding bonds, notes, and other evidences of indebtedness issued by the corporation pursuant to this Subpart. See Louisiana Revised Statutes 39:99.27
  • Closing date: means the date of delivery of the first issue of bonds. See Louisiana Revised Statutes 39:99.27
  • Commissioner: means the Louisiana commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:556.2
  • Commissioner: means the Louisiana commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:559.3
  • Consent decree: means the settlement agreement and related documents between the state of Louisiana and other gulf coast states, the United States, and BP Exploration & Production Inc. See Louisiana Revised Statutes 39:99.27
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corporation: means the Coastal Protection and Restoration Financing Corporation created pursuant to this Subpart. See Louisiana Revised Statutes 39:99.27
  • Crawfish farmer: means a person who farms or cultivates crawfish in ponds. See Louisiana Revised Statutes 3:556.2
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:556.2
  • Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:559.3
  • Derivative instrument: means a contract whose value is based on the performance of an underlying financial asset, index, or other investment. See Louisiana Revised Statutes 39:99.27
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Distributor: means a Louisiana manufacturer of crawfish bags or a person who brings crawfish bags into Louisiana which were manufactured outside of Louisiana or a person who brings crawfish tail meat into Louisiana or who distributes crawfish tail meat in Louisiana. See Louisiana Revised Statutes 3:556.2
  • Docket: A log containing brief entries of court proceedings.
  • DWH NRD assets: means all rights, title, and interest in and to the portion of the state allocation of DWH natural resource damages as set forth in the consent decree that may be sold to the corporation from time to time. See Louisiana Revised Statutes 39:99.27
  • DWH NRD bonds: means the bonds, notes, and other obligations issued by the corporation, exclusive of bonds that the corporation may issue to refund bonds, the net proceeds, after financing costs, of the first issue of which shall be used by the corporation to pay a portion of the purchase price to the state of Louisiana to purchase the DWH NRD assets. See Louisiana Revised Statutes 39:99.27
  • DWH NRD payments: means the monies paid or payable for natural resource damages, pursuant to the consent decree, to the corporation and the agreement as in effect from time to time. See Louisiana Revised Statutes 39:99.27
  • Earnable compensation: means the compensation earned by a member during the full normal working time as a teacher. See Louisiana Revised Statutes 11:701
  • Employer: means the state of Louisiana, any city, parish, or other local school board, the State Board of Elementary and Secondary Education, any board created by La. See Louisiana Revised Statutes 11:701
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Ex officio: Literally, by virtue of one's office.
  • Expenses: means amounts represented by cash paid out or by obligations to pay cash or partly by each for maintaining and operating government services. See Louisiana Revised Statutes 39:2
  • Facility: means any piece of property that contains a constructed impoundment or other area where aquatic livestock are produced, raised, managed, harvested, or marketed. See Louisiana Revised Statutes 3:559.3
  • Financing costs: means all capitalized interest, costs, fees, reserves, and credit and liquidity enhancements as the corporation determines to be desirable in issuing, securing and marketing the bonds. See Louisiana Revised Statutes 39:99.27
  • Fiscal year: means the period beginning July first of any year and ending June thirtieth of the next succeeding year. See Louisiana Revised Statutes 11:701
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Functions: means duties, jurisdiction, powers, rights, and obligations, conferred or imposed upon, or vested in, any agency by law, or exercised, performed, or discharged by any agency without contravention of any provision of law. See Louisiana Revised Statutes 39:2
  • Fund: means an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with regulations, restrictions, and limitations. See Louisiana Revised Statutes 39:2
  • Impoundment: means any private, constructed pond, lake, reservoir, tank, cage, or other means of containment that has no inlet from or outlet to any public waters. See Louisiana Revised Statutes 3:559.3
  • Income: means the payments and all fees, charges, payments, and other income and receipts paid or payable to the corporation or a trustee or other party for the account of the corporation or the holders. See Louisiana Revised Statutes 39:99.27
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Indenture trustee: means the trust company or bank at the time serving as trustee under the trust indenture referred to in La. See Louisiana Revised Statutes 39:99.27
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Liability: means a debt arising out of a transaction where goods or services have been received or rendered which must be liquidated, renewed, or refunded at some future date. See Louisiana Revised Statutes 39:2
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Member: means any teacher included in the membership of the system as provided in Part II of this Chapter. See Louisiana Revised Statutes 11:701
  • Minor child: means an unmarried child under the age of twenty-one years or an unmarried student under the age of twenty-three years who is the issue of a marriage of a member of this system, the legally adopted child of a member of this system, a child born outside of marriage of a female member of this system, or the child of a male member of this system if a court of competent jurisdiction has, pursuant to the provisions of the Civil Code rendered a judgment of filiation declaring the paternity of such member for the child. See Louisiana Revised Statutes 11:701
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: means an amount which a government may be required legally to meet out of its resources. See Louisiana Revised Statutes 39:2
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Offshore Royalty Revenue: means all monies constituting the state of Louisiana's allocable share pursuant to the Gulf of Mexico Energy Security Act of 2006. See Louisiana Revised Statutes 39:99.27
  • Offshore Royalty Revenue assets: means all right, title and interest in and to the portion of the state allocation that may be sold to the corporation from time to time. See Louisiana Revised Statutes 39:99.27
  • Offshore Royalty Revenue bonds: means the bonds, notes and other obligations issued by the corporation, exclusive of bonds that the corporation may issue to refund bonds, the net proceeds (after financing costs) of the first issue of which shall be used by the corporation to pay a portion of the purchase price to the state of Louisiana to purchase the Offshore Royalty Revenue assets. See Louisiana Revised Statutes 39:99.27
  • Offshore Royalty Revenue payments: means the monies paid or payable to the corporation pursuant to the agreement as in effect from time to time. See Louisiana Revised Statutes 39:99.27
  • Outstanding: when used with respect to bonds, shall exclude bonds that shall have been paid in full at maturity, or shall have otherwise been refunded, redeemed, defeased or discharged, or that may be deemed not outstanding pursuant to agreements with the holders thereof. See Louisiana Revised Statutes 39:99.27
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Pensions: means payments for life. See Louisiana Revised Statutes 11:701
  • Person: means any individual, corporation, partnership, association, or other legal entity. See Louisiana Revised Statutes 3:556.2
  • Person: means an individual, partnership, firm, company, association, corporation, limited liability company, and any other legal entity or group of persons. See Louisiana Revised Statutes 3:559.3
  • person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
  • Prior service: means service rendered prior to the date of establishment of the retirement system for which credit is allowable under Part III of this Chapter. See Louisiana Revised Statutes 11:701
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Public school: means any school conducted within the state under the authority and supervision of a city, parish, or other local school board and any educational institution supported by and under the control of the state. See Louisiana Revised Statutes 11:701
  • Quarter: means a calendar quarter more specifically defined as follows:

    (a)  First quarter: January, February, and March. See Louisiana Revised Statutes 3:556.2

  • Quorum: The number of legislators that must be present to do business.
  • Regular interest: means interest compounded annually at such a rate as shall be determined by the board of trustees in accordance with La. See Louisiana Revised Statutes 11:701
  • Residual interests: means the income of the corporation, and bond proceeds, if any, not previously paid to the state, that are in excess of the corporation's requirements to pay its operating expenses, debt service, sinking fund and other redemption requirements, reserve fund requirements, and any other contractual obligations to the holders or that may be incurred in connection with the issuance or repayment of the bonds, the amounts of which shall be determined by the board on or before January first and July first of each year for the next twelve months, and which, within ten days after each such determination, shall be transferred and paid by the corporation to the state treasurer for deposit in and credit to the Coastal Protection and Restoration Fund pursuant to the agreement between the state and the corporation. See Louisiana Revised Statutes 39:99.27
  • RESTORE Act: means the Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act of 2012. See Louisiana Revised Statutes 39:99.27
  • RESTORE assets: means all rights, title, and interest in and to the portion of the state allocation of civil penalties related to the Deepwater Horizon oil spill as set forth in the RESTORE Act and the consent decree. See Louisiana Revised Statutes 39:99.27
  • RESTORE bonds: means the bonds, notes, and other obligations issued by the corporation, exclusive of bonds that the corporation may issue to refund bonds, the net proceeds, after financing costs, of the first issue of which shall be used by the corporation to pay a portion of the purchase price to the state of Louisiana to purchase the RESTORE assets. See Louisiana Revised Statutes 39:99.27
  • RESTORE payments: means the monies paid or payable for civil penalties, pursuant to the RESTORE Act and the consent decree, to the corporation, and the agreement as in effect from time to time. See Louisiana Revised Statutes 39:99.27
  • Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:701
  • Retirement allowance: means the sum of the annuity and the pensions or any optional benefit payable in lieu thereof. See Louisiana Revised Statutes 11:701
  • Retirement system: means the Teachers' Retirement System of Louisiana as defined in La. See Louisiana Revised Statutes 11:701
  • Service: means service as a teacher within the meaning of Paragraph (33) of this Section. See Louisiana Revised Statutes 11:701
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Spouse: shall mean a person who is legally married to a member of this system and shall not include a person who is legally separated from a member of this system by a judgment of separation, unless such person has voluntarily reconciled with the member and which reconciliation is established by a court of competent jurisdiction. See Louisiana Revised Statutes 11:701
  • State allocation: means all monies to be received by the state of Louisiana as a result of the Gulf of Mexico Energy Security Act of 2006, the Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act as provided in the consent decree, or the Deepwater Horizon (DWH) natural resource damages as provided in the consent decree including all of the state of Louisiana's allocable share as determined thereunder, without giving effect to any sale of any portion thereof. See Louisiana Revised Statutes 39:99.27
  • Statute: A law passed by a legislature.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • Venue: The geographical location in which a case is tried.