City of Monroe, LA

ORDINANCE

STATE OF LOUISIANA

CITY OF MONROE                                                                          NO.  12,024               

The following Ordinance was introduced by Mrs.  Ezernack                        , who moved for its adoption and was seconded by Mr.  Marshall                :

WHEREAS, the Downtown Economic Development District of the City of Monroe, State of Louisiana (the "District") was created by the legislature of the State of Louisiana pursuant to the provisions of Part I, Chapter 6, Subpart E, Title 33 of the Louisiana Revised Statutes of 1950, as amended (La. R.S. 33:2740.49, et seq.) (the "District Act").

WHEREAS, Section 2740.49(H) of the District Act, grants the District the authority provided to economic development districts under Part II, Chapter 27, Title 33 of the Louisiana Revised Statutes of 1950, as amended (La. R.S. 33:9038.31, et seq.) (the "EDD Act", and collectively with the District Act, the "Authorizing Legislation").

WHEREAS, pursuant to the Authorizing Legislation, the District, with the consent of the City as expressed pursuant to this Ordinance and a cooperative endeavor agreement in substantially in the form of Exhibit "A" attached hereto (the "Cooperative Endeavor Agreement"), desires to finance Economic Development Projects, as defined in Cooperative Endeavor Agreement, through ad valorem property tax and sales tax increments (collectively, the "Tax Increments") collected by the City within the District as set forth herein; and

WHEREAS, Article VI, Section 20 of the Louisiana Constitution of 1974 provides that a political subdivision may exercise and perform any authorized power and function, including financing, jointly or in cooperation with one or more political subdivisions, either within or without the state, or with the United States or its agencies; and

WHEREAS, Article VII, Section 14(C) of the Louisiana Constitution of 1974 provides that the state and its political subdivisions or political corporations may engage in cooperative endeavors with each other, with the United States or its agencies, or with any public or private association, corporation, or individual; and

            NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Monroe, State of Louisiana, acting as the governing authority, (the "Governing Authority"), of the City, that:

            SECTION 1.  Cooperative Endeavor Agreement.  This Governing Authority acknowledges and approves of cooperative economic development efforts between the City and the District, and hereby approves the Cooperative Endeavor Agreement in substantially the form of Exhibit "A" attached hereto, with such changes as may be requested and approved by the City of Monroe Department of Revenue and Taxation (the "Department"), which may be required to calculate and collect the tax increments.  The Mayor and Clerk of the City are hereby authorized to execute and deliver the Cooperative Endeavor Agreement on behalf of the City and to cause the City to comply with the City’s obligations set forth therein.

            SECTION  2.    Tax Increments.      The sharing with the District of ad valorem property tax increments and sales tax increments collected from existing taxes collected in the City within the District as set forth in the Cooperative Endeavor Agreement is hereby approved.   The Department is directed to cooperate with the District as contemplated by the Cooperative Endeavor Agreement, and to take such action as required to enable the City to comply with the City’s obligations under the Cooperative Endeavor Agreement.

            SECTION 2.  Effective Date.  This ordinance shall become effective immediately upon adoption hereof.

            This Ordinance was introduced on the  13th     day of  October                   , 2020.

            Notice published on the  16th       day of  October                 , 2020.

This Ordinance having been submitted in writing, introduced and published, was then submitted to a vote as a whole, the vote thereon being as follows: 

AYES:            Harvey, Ezernack, Woods, Marshall & Dawson

NAYS:            None.

ABSENT:      None.

And the Ordinance was declared ADOPTED on the  27th    day of  October          , 2020.

Douglas Harvey                     

CHAIRMAN

Carolus S. Riley                                 

CITY CLERK

Oliver Friday Ellis                             

MAYOR’S APPROVAL

MAYOR’S VETO