Louisiana Revised Statutes Tit. 33, § 3467. City of Monroe; off-street parking facilities

A. The city of Monroe may exercise all of the authority granted by this Subpart to municipalities for the purposes authorized by this Subpart and may acquire immovable property to be used for the construction thereon of off-street parking facilities incidental to and in connection with a program of public improvement for the downtown Monroe area, and for the purpose of operating such facilities.

B. In the purchase of such property the city may pay prices not to exceed the higher of two appraisals which shall be obtained from two qualified real estate appraisers, except as otherwise ordered by a court in an expropriation suit.

C. If the governing authority of the city and a property owner do not agree on the price for property that the governing authority decides to acquire for parking facilities authorized by Subsection A of this section, the governing authority may acquire such property by expropriation under the general expropriation laws of this state.

D. The compensation for property acquired by the city for parking facilities authorized by this section shall be paid out of the proceeds of assessments levied against property owners under the provisions of this Subpart or be paid with certificates issued by the municipality of the type authorized by this Subpart or be paid out of the proceeds derived from the sale of such certificates. The city may further participate in the payment of the costs of such parking facility projects as provided by R.S. 33:3465.

E. The costs of operation of parking facilities authorized by this section, to the extent that such costs exceed revenues derived by the city from the operation thereof, may also be included in assessments which may be made against abutting property as provided in this Subpart and such costs may be paid out of the proceeds of such assessments or be paid with certificates issued by the municipality of the type authorized by this Subpart or be paid out of the proceeds from the sale of such certificates.