1. (a) In furtherance of the public purposes of this chapter, the state, and any public entity, upon such terms and with or without consideration as it may determine and in compliance with the state constitution and public notice requirements, may undertake any of the following for the benefit of any corridor project, without regard to whether any public entity may be an authorizing subdivision with respect to the corridor or may have a project located or undertaken within the jurisdiction thereof:

   1. (1) Donate, grant, loan, or pledge to, or for the benefit of, any corridor any funds, revenues, or tax proceeds of the public entity;
   2. (2) Perform services for the benefit of any corridor;
   3. (3) Pay, commit to pay, or guarantee, on a continuing basis by contractual agreement, the payment when due of all or any part of the principal of, and premium and interest on, any financial obligation of a research and development corridor for such period, including the period ending on the stated maturity of the financial obligation, as the public entity may determine;
   4. (4) Donate, sell, convey, transfer, lease, or grant any property to any corridor without the necessity of authorization at any election of qualified voters of the public entity; and
   5. (5) Do any and all things, whether or not specifically authorized in this chapter, not otherwise prohibited by law, that are necessary or desirable to aid and cooperate with any corridor with respect to any project or in furtherance of the public purposes of this chapter.
2. (b) The state and each public entity, upon such terms and conditions and with or without consideration as it may determine and in compliance with the state constitution and public notice requirements, may assume, incur, or issue, by private or public sale in compliance with applicable state law and the state constitution, any financial obligation as a general, limited, or special obligation thereof, to provide funds for any purpose of this section.
3. (c) The state and each public entity shall cause each contractual agreement or instrument delivered for any purpose in subsection (a) to provide for, or set forth, in the agreement or instrument: (i) the purpose of the agreement; and (ii) the authorization and direction of a specific officer or officers, by title or office, of the public entity to pay any pecuniary obligation of the public entity in lawful currency of the United States and in liquidated amounts when due on a date or dates certain, which amounts and dates of payment may be set forth in the agreement or instrument, or schedule thereto, or incorporated therein by specific reference.
4. (d) With specific regard to the state, the Governor or his or her designee may enter into any contractual agreement or instrument, exercising the state’s authority hereunder.
5. (e) Any court in the state having competent jurisdiction shall issue mandamus for the payment of any pecuniary obligation of the state or a public entity in a contractual agreement or instrument delivered pursuant to this section upon proper proof of nonpayment thereof, or failure of compliance with the provisions of law with respect thereto, being furnished by, or on behalf of, the corridor or any beneficiary of the pecuniary obligation of the state or the public entity under the contractual agreement or instrument.

(Act 2024-308, §10.)