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The terms are synonymous. Regardless of how the agreement is titled, the agreement in order to comply with Article 7, Sec. 14 of the Louisiana Constitution must provide: (1) Public purpose including the authority to carry out the purpose; (2) reciprocal benefits/obligations; and (3) expectation by the public entity to receive at least equivalent value to the public funds expended or public property transferred.
See also the CEA Memo and Sample on the Louisiana Legislative Auditor's website.
Louisiana Legislative Auditor website: 05/02/2026 09:53:51 AM
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