| Advisory opinion request regarding the recent election of John Atkins as a member of the Caddo Parish Commission. |
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New Louisiana Angel Fund I, LLC
The Biomedical Research Foundation ("BRF") played a role in helping to organize Angel Fund I, LLC ("Angel Fund"), a privately-funded investment fund. John Atkins manages and also owns 100% of Jala Ventures, LLC and 13.52% of Eagle Capital, LLC which invested approximately 11% of the total equity in Angel Fund. Through his ownership interest in Jala Ventures, LLC and Eagle Capital, LLC, Mr. Atkins has personally contributed approximately 5% of the total equity controlled by Angel Fund. To date, there have been no profits or distributions associated with Angel Fund. Any profits generated in the future have been formally pledged to the LSU Health Sciences Center in Shreveport. The Caddo Parish Commission provides funding to the Entrepreneur Acceleration Program (EAP), a BRF program to help entrepreneurs develop business plans, start new companies, and solicit investment capital. EAP often refers interesting opportunities to Angel Fund to be considered for investment. While the EAP facilitates discussions between entrepreneurs and Angel Fund members, the members of Angel Fund decide which entrepreneurial projects Angel Fund will support. The Caddo Parish Commission will soon vote regarding its 2017 budget which is to include EAP funding to BRF.
Barksdale Forward, Inc.
Barksdale Forward, Inc. ("Barksdale") is a non-profit organization which serves as a key liaison between the community and Barksdale Air Force Base to help ensure that the base receives all that it needs from the community. Barksdale also serves as an advocate for Northwest Louisiana in Washington, D.C. to protect Barksdale Air Force Base against a future closure, relocation or loss/reduction of mission. Barksdale has received funding from the Caddo Parish Commission in the past and may submit a request for funding in 2017. Mr. Atkins currently serves as the volunteer Treasurer of Barksdale.
Argent Financial Group, Inc.
Mr. Atkins currently serves as an investor and board member of Argent Financial Group, Inc., a financial services company. A wholly owned subsidiary of Argent Financial Group, Inc., Argent Trust Company, N.A., serves as custodian for some Caddo Parish funds and provides other services which generates revenue for the subsidiary. Mr. Atkins manages and he and each of his three siblings own 13.52% each of Eagle Argent, LLC which owns approximately 5% of Argent Financial Group's shares. As a board member, Mr. Atkins received $8,500 in director's fees from Argent Financial Group in 2014.
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La. R.S. 42:1112B prohibits a public servant from participating in a transaction involving his governmental entity in which any member of his immediate family, any person in which he has a substantial economic interest, or any person of which he is an officer, director, trustee, partner, or employee, has a substantial economic interest.
La. R.S. 42:1120 provides than any elected official, who is required to vote on a matter in violation of Section 1112, must recuse himself from voting. The elected official is not prohibited from participating in discussion and debate concerning the matter provided that he verbally discloses the nature of the conflict or potential conflict during his participation in the discussion or debate prior to any vote being taken.
La. R.S. 42:1111C(2)(d) prohibits a public servant from receiving compensation for services rendered to any person who has a business, contractual or financial relationship with the public servant's agency.
La. R.S. 42:1113 prohibits public servants, their immediate family members, or legal entities in which they have a controlling interest, from entering into any contract, subcontract, or other transaction that is under the supervision or jurisdiction of the agency of such public servant.
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Adopt the proposed advisory opinion.
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| Assigned Attorney: |
Jennifer Land |
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