Resident presses council for clarity on Red River Express ownership; counsel cites public-trust structure

During public comment, David Hackney asked the council to clarify whether the Northwest Louisiana Finance Authority would own the Red River Express project and pointed to language in a cooperative endeavor agreement (CEA) that he said implies the authority 'will lease the project to the Red River Express.' He expressed concern about transparency and potential conflicts with CEAs in neighboring parishes.

Attorney Bousada/Posada, representing the city's legal counsel role on the matter, responded that state law defines the finance authority as a separate public trust and explicitly limits the beneficiary's (the city) control and liability. He cited Louisiana Revised Statute provisions describing component-unit accounting treatment and public-trust protections and said that, 'the finance authority can spend no money, has no money, [and] has no access to money that is connected to the city of Shreveport' without express action by the governing authority. He characterized the entity as a financing mechanism used in many jurisdictions and recommended that residents who want an independent review could request an Attorney General's opinion.

Hackney told the council the issue should be more public and asked for clearer fact sheets on agenda materials; councilmembers agreed that the item warrants public clarity and suggested follow-up and, if desired, that residents seek an AG opinion and copy the council on any request.