Union Passenger Terminal and related facilities; operation by the city of New Orleans through the Transportation Center Authority

A. The city of New Orleans shall continue the operation of the Union Passenger Terminal and related facilities by and through a commission to be known as the "Transportation Center Authority for the city of New Orleans", which is hereby created as a political subdivision and which shall be composed of nine commissioners appointed as follows: (1) Three commissioners appointed by the mayor of the city of New Orleans. (2) One commissioner appointed by the National Passenger Rail Corporation. (3) One commissioner who shall be ex officio the councilman from District "B" of the city of New Orleans. (4) One commissioner appointed by the mayor of the city of New Orleans from a list of three recommendations of the Public Belt Railroad Commission. (5) Three commissioners who shall be ex officio appointed by the mayor of the city of New Orleans upon recommendations of the New Orleans Legislative Delegation. B. (1) The Transportation Center Authority shall succeed to and assume all the rights, duties, powers, and obligations of the Public Belt Railroad Commission for the city of New Orleans pursuant to and shall succeed to and be vested with all authority and powers conferred upon the Public Belt Railroad Commission by Article XIV, Section 31.3 of the Louisiana Constitution of 1921, continued as a statute by Article XIV, Section 16(A)(10) of the Louisiana Constitution of 1974, and hereinafter referred to as "the Act". (2) The Transportation Center Authority shall also succeed to and assume all rights, duties, and obligations of every kind of the Public Belt Railroad Commission pursuant to a certain agreement dated October 22, 1947, providing for the construction and use of the Union Passenger Terminal in the city of New Orleans and other related matters. (3) The Transportation Center Authority shall have full and complete authority with respect to the composition, appointment, and authority of all committees appointed, or authorized to be appointed, pursuant to the Act. The Transportation Center Authority is hereby further authorized to assume the functions and duties of any such committee heretofore appointed by the Public Belt Railroad Commission or hereafter appointed by the Transportation Center Authority. In the event the authority so assumes the functions and duties of any such committee, the authority shall save harmless such committee and its officers from any loss or liability arising out of such assumption of functions and duties. C. (1) In addition to the Transportation Center Authority succeeding to all rights, authority, and powers previously conferred upon the Public Belt Railroad Commission by the Act, the Transportation Center Authority is additionally authorized to expand the Union Passenger Terminal and related facilities to include any and all facilities necessary or convenient to permit operation of the Union Passenger Terminal as a multimodal transportation facility. (2) In furnishing any such transportation facilities, any land furnished by the city or any other entity for such purposes, including but not limited to that portion of the New Basin Canal and Shell Road previously made available to the city of New Orleans pursuant to Article XIX, Section 20 of the Louisiana Constitution of 1921, continued as a statute by Article XIV, Section 16(A)(15) of the Louisiana Constitution of 1974, may be utilized. (3) The city of New Orleans is hereby authorized to issue bonds for any purposes set forth in the Act or herein, upon recommendation of the Transportation Center Authority, in accordance with the terms and procedures set forth in the Act not inconsistent herewith. However, the aggregate principal amount of such bonds outstanding at any time may exceed that set forth in the Act but shall not at any time exceed eighty million dollars.