Current through Register Vol. 50, No. 9, September 20, 2024
A.
Description of Powers. Subject to the limitations stated in the Louisiana
Constitution, the Act and general provisions of Louisiana Law, the corporation
shall have the power and authority to regulate the official gaming
establishment and do all things related and in furtherance thereof. Without
limiting the generality of the foregoing, the corporation shall have the
following specific powers and authority:
1. in
any legal manner to acquire, hold, use and alienate or encumber property of any
kind;
2. in any legal manner to
acquire, hold, vote and use, alienate and encumber, and to deal in and with
shares, memberships or other interests in, or obligations of, other Business,
nonprofit or foreign corporations, associations, partnerships, joint ventures,
individuals or government entities (collectively an "entity");
3. to make contracts and guarantees,
including guarantees of the obligations of other entities;
4. to incur liabilities, borrow money, and
secure any of its past, present or future obligations by the pledge, pawn,
mortgage, collateral mortgage, hypothecation or granting of a security interest
of any kind of property, which security may be created by security documents
which may include a confession of judgment and all other usual and customary
Louisiana security document provisions;
5. enter into other obligations or evidences
of indebtedness;
6. to lend money
for its corporate purposes and invest and reinvest funds, and to take and hold,
sell or exchange property or rights of any kind as security for loans or
investments;
7. to elect or appoint
officers and agents, to define their duties and fix their
compensation;
8. to pay pensions
and establish pension plans, pension trusts, profit sharing plans and other
incentive and benefit plans for any or all of its directors, officers and
employees;
9. enter into
procurement including issuance of requests for proposals for contracts
authorized by the Act;
10. sue and
be sued in its corporate name, and as a corporate entity;
11. adopt a corporate seal and a
symbol;
12. hold copyrights,
trademarks and service marks and enforce its rights with respect
thereto;
13. appoint agents upon
which process may be served;
14.
acquire immovable property and make improvements thereon, subject to the prior
approval of the Joint Legislative Committee on the Budget;
15. make, solicit, and bid requests for
proposals and offers for major procurement, in accordance with law or rules and
regulations of the corporation including:
a.
contracts for major procurement after competitive negotiation, bidding, or
other procedure authorized pursuant to the Louisiana Procurement Code, or the
corporation may adopt special rules and regulations pursuant to the provisions
of this Part providing for special procedures whereby the corporation may make
any class of procurement including the authority to negotiate a reduced price.
Such procedures shall be designed to allow the selection of proposals that
provide the greatest long-term benefit to the state, the greatest integrity for
the corporation, and the best service and products for the public. In its
bidding and negotiation processes, the corporation may do its own bidding and
procurement may utilize the services of the division of administration central
purchasing agency or other set agency or division. The president of the
corporation may with approval of the board declare an emergency for purchasing
purposes; and
b. contracts to incur
debt in its own name and enter into financing agreements with the state, its
own agencies, or with a commercial bank, excluding the authority to issue
bonds.
B.
Powers of the Board. All of the corporate powers of the corporation shall, to
the extent not specifically delegated to other persons, agencies or entities
pursuant to the Louisiana Economic Development and Gaming Corporation Law, be
vested in, and the business and affairs of the corporation shall be
administered by, the board.
AUTHORITY NOTE:
Promulgated in accordance with R.S. 4:601 et
seq.
