Section 33:4570.4 - Corporate status; bonds; taxes; collectionsA. The commission shall be a subdivision of the state of Louisiana within the meaning of the state law relating to the incurring of debt and issuing negotiable bonds and levying a tax to provide for the servicing of said bonds in principal and interest, as is hereinafter provided in detail, providing that where any proposal is made by the commission to incur debt or issue negotiable bonds therefor the said bond shall run for a period not to exceed forty years, and for the interest rate not to exceed the maximum rate prescribed by law, and provided further that where any such bonds are authorized, as hereinafter provided, the proceeds thereof shall be used by the commission to purchase lands and properties as park areas, and purchase other recreational properties and facilities, or to develop such park areas and recreational facilities, so as to make them available to all of the people of the parish.B. In addition to the foregoing, and in accordance with the provisions of Article VI, Section 32 of the Constitution of Louisiana and any other applicable provisions of the constitution and laws of the state, the commission may impose and collect from year to year taxes upon all of the taxable property carried on the assessment roles of the parish of East Baton Rouge which in the aggregate and exclusive of any taxes levied to pay debt service on bonds of the commission shall not exceed eighteen mills on the dollar of assessed value as the commission shall determine and the proceeds of any such tax shall be used in acquiring, developing, maintaining, and operating the public parks and recreational properties and facilities of the commission and in making available funds for the operating budget.C. No new tax of the commission shall be levied and no bonds shall be issued herein except upon approval of the qualified electors of the parish of East Baton Rouge who voted in a special election held in accordance with the provisions of the Louisiana Election Code.D. Any tax voted by the people as herein provided, and as that tax may hereafter be fixed by the commission under the authority thus obtained, either independently, or for bond purposes, as above set forth, shall be carried upon the assessment roles of the parish as are other tax assessments, and shall be collected by the sheriff and ex officio tax collector of the parish at the same time and in the same manner as other taxes, with the proceeds to be delivered by the sheriff to the treasurer of the commission, to be deposited and administered by the commission for the purposes herein shown. The treasurer and all other officers and employees of the commission who actually receive any money or deposits or who disburse or handle the funds of the commission or any part or portion thereof shall be required to post bond, in the same manner and for such amount as is now required by other public officials, the cost of any such bonds to be provided by the commission.Acts 1985, No. 95, §1, eff. 6/29/1985; Acts 1996, No. 1, §1.