The authority shall have no power of eminent domain, but the city of New Orleans and the participating parishes, for purposes of the authority, may exercise the broadest power of eminent domain permissible under the laws of this state; however, no local governing body shall exercise any power of eminent domain hereunder with respect to property located beyond its territorial limits, nor shall it expropriate any business enterprise or any of its assets for the purpose of operating that enterprise or halting competition with a government enterprise.
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