§4712.4. Transfer of property by city of Pineville authorized

A. The inducement of the establishment of commercial enterprise for the purposes of economic development of the municipality is a public purpose.

B. The city of Pineville may acquire the property described in Subsection F of this Section for commercial inducement purposes as further provided in this Section.

C. The city of Pineville may sell, lease, or otherwise dispose of, by suitable and appropriate contract, such transaction being hereinafter referred to as a "transfer", the property described in Subsection F of this Section to any commercial enterprise locating or expanding its operations within the city.

D.(1) In determining the consideration for any such transfer, the municipal governing authority may consider the potential value of the lands, buildings, or other property involved.

(2) Prior to any transfer, the municipal governing authority shall give notice of its intention to transfer the property, by publication of a notice of intention once a week for two consecutive weeks, beginning at least fourteen days prior to the date such action is contemplated. Such notice of intention shall include the following:

(a) A general description of the proposed transfer.

(b) A description of the property to be transferred.

(c) The proposed consideration to be given in exchange for said property.

(d) A statement that the proposed contract is on file for public inspection in the office of the municipal governing authority.

(e) A statement of the appraised value of such property as determined by a real estate appraisal made within the previous twelve months.

(f) A date, time, and place at which objections to such transfer will be received.

(3) Should five percent of the resident electors of the city object to said proposed transfer, an election shall be held for the purpose of submitting the question of the transfer to the voters in accordance with Chapter 6-B of Title 18 of the Louisiana Revised Statutes of 1950 and in such case the transfer shall be made only upon the favorable vote of a majority of the electors voting on the proposition at such election.

E. The resolution or ordinance adopted by the municipal governing authority authorizing the transfer of property by the city shall set forth, in a general way, the terms of the authorized transfer and that the contract is on file for public inspection in the office of the municipal governing authority. At the regularly scheduled meeting immediately prior to the meeting at which the resolution or ordinance will be considered, the municipal governing authority shall announce to those persons present that the resolution or ordinance will be considered at the next meeting. Such resolution or ordinance shall be published as soon as possible after adoption in one issue of the official journal of the city. For a period of thirty days from the date of publication of any such resolution or ordinance, any interested person may contest the legality of such resolution or ordinance or the validity of the authorized transfer, after which time, no one shall have any cause of action to contest the legality of the transfer for any cause whatsoever, and it shall be conclusively presumed thereafter that every legal requirement has been complied with, and no court shall have authority to inquire into such matters after the lapse of said thirty days.

F. The city of Pineville may purchase and transfer the following described property in accordance with the provisions of this Section:

A certain parcel or tract of land, together with all buildings and improvements thereon, and all rights, ways, privileges, servitudes, advantages, appurtenants thereunto appertaining, situated in Section Twenty-one (21), Township 4 North, Range 1 West, City of Pineville, Rapides Parish, Louisiana, and being particularly described as follows: Begin at the most southern corner of White Subdivision, as shown on plat attached to Act of Partial Release of Mortgage recorded at Mortgage Book 989, Page 228, records of Rapides Parish, Louisiana, and from said point of beginning as thus established, thence run South 38 degrees 13 minutes West a distance of 20.35 feet; thence run South 51 degrees 52 minutes East a distance of 378.41 feet to the northwesterly right-of-way line of Louisiana-Arkansas Railroad; thence along said right-of-way line of said railroad, run South 42 degrees 38 minutes West on a chord a distance of 56.34 feet; thence run South 43 degrees 27 minutes West a distance of 379.70 feet; thence run North 51 degrees 10 minutes West a distance of 540.57 feet to the Southeasterly right-of-way line of Alexandria-Pineville Expressway; thence run North 43 degrees 45 minutes East along said right-of-way of said Expressway a distance of 348.12 feet, more or less to Louisiana Department of Highways concrete monument; thence run North 63 degrees 29 minutes East a distance of 113.29 feet; thence run South 51 degrees 27 minutes East a distance of 119.26 feet back to the point of beginning. Said property is particularly shown on plat of survey dated December 2, 1985, made by Frank L. Willis.

Acts 1990, No. 70, §1, eff. June 27, 1990.