Louisiana Revised Statutes Tit. 48, § 1610. Competitive bidding

A. Except in the acquisition of unique property, all purchases, acquisitions, contracts, leases, bond sales, etc., of the authority referred to in the provisions of this Chapter shall be conducted in accordance with the public bid laws of this state where an expenditure in excess of one thousand dollars is involved.

B. The authority may dispose of property by contract as provided for herein. Property shall be sold only to the highest responsible bidder only after the property has been advertised for disposition once a week for two successive weeks in the newspaper having the largest paid circulation in the parish in which the property is located and in the parish where the board is domiciled. The advertisement shall accurately describe the property to be sold, shall name the place where the property is located or otherwise available for public inspection and the place, date, and time, that the bids shall be publicly presented, opened and read. All such bids shall be opened and read on the same day presented.