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FOR IMMEDIATE NEWS RELEASE NEWS RELEASE # 51 FROM: CLERK OF SUPREME COURT OF LOUISIANA The Opinions handed down of the 29th day of June, 2005 , are as follows:

BY KNOLL, J. :

2005-CA-0374

WORLD TRADE CENTER TAXING DISTRICT v. ALL TAXPAYERS PROPERTY OWNERS, AND CITIZENS OF WORLD TRADE CENTER TAXING DISTRICT AND NONRESIDENTS OWNING PROPERTY OR SUBJECT TO TAXATION THEREIN, AND ALL OTHER PERSONS INTERESTED IN OR AFFECTED IN ANY WAY BY THE EXECUTION OF A COOPERATIVE ENDEAVOR AGREEMENT BY AND AMONG THE WORLD TRADE CENTER TAXING DISTRICT, AND WTC DEVELOPMENT, LIMITED PARTNERSHIP PROVIDING FOR THE LEVY AND COLLECTION OF A TAX ON HOTEL ROOMS AND OVERNIGHT CAMPING FACILITIES WITHIN THE WORLD TRADE CENTER TAXING DISTRICT AND THE PLEDGE AND COLLATERAL ASSIGNMENT OF THE TAX PROCEEDS TO WTC DEVELOPMENT, LIMITED PARTNERSHIP (Parish of Orleans) For the foregoing reasons, we affirm the judgment of the court of appeal. AFFIRMED. Retired Judge Lemmie O. Hightower assigned as Associate Justice ad hoc, sitting for Associate Jusice Chet D. Traylor, recused. JOHNSON, J., dissents and will assign reasons.

(06/29/2005) SUPREME COURT OF LOUISIANA NO. 05-CA-0374 WORLD TRADE CENTER TAXING DISTRICT VERSUS ALL TAXPAYERS, PROPERTY OWNERS, AND CITIZENS OF WORLD TRADE CENTER TAXING DISTRICT AND NONRESIDENTS OWNING PROPERTY OR SUBJECT TO TAXATION THEREIN, et al. ON APPEAL FROM THE COURT OF APPEAL, FOURTH CIRCUIT, PARISH OF ORLEANS KNOLL, Justice* In this case we are called upon to decide whether an act of the legislature is a valid exercise of the legislature's plenary power. The act in question creates a political subdivision/taxing district within the city of New Orleans, granting to that district's board the authority to levy and collect a hotel occupancy tax within the district, in lieu of any other hotel occupancy tax, and further allows the district to pledge these taxes to secure revenue bonds issued by the district or to secure private financing of the district's projects. This necessarily involves a determination of whether this act is an exemption from the Orleans Parish hotel occupancy taxes, or a suspension of the laws imposing those taxes. This case is before us pursuant to our appellate jurisdiction, La. Const. art. V,

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