New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-02-22

AN ACT TO AUTHORIZE THE LEASE OF THE NEW CANAL.
SECTION l. BE it enacted by the Senate and
House Of Representatives Of the State Of L0uts1-
ana, in General Assembly conuened, That the
canal belonging to the Canal and Banking Com
pany, and constructed under the charter of said
company incorporated March 9Th, 1881, situated,
lying and being in the parishes of Orleans and
Jefferson, together with all the rights, property,
privileges and uses, in any way belonging and
appertaning thereto, or claimed by said company
under said act of Incorporation, and which, by
virtue of said act, reverts to the State the 5th
day of March, 1866, be, and the same is, hereby
ordered to be leased for q term Of years not to
exceed fifteen, nor less than five years. Pr0Uided
however, that nothing in this act shall be so con
strued as to have the effect of releasing the Canal
and Banking Company from the obligation of re-
turning the property herein described in the good
order and condition provided for in their charter.
SEC 2. Be it further enacted, etc., That it shall
be the duty of the Governor, Immediately after
the passage of this act to cause to be advertised
in one or more newspapers of the city of New
Orleans, for the period of twenty days, that the
said canal with all the rights and privileges ap-
pertaining thereto or claimed, and now enjoyed by
the Canal and Banking Company under its char
= ter-except sixty feet Immediately adjoining Cy-
press Grove and Greenwood Cemeteries, towards
the canal which is hereby reserved by the State
of Louisiana for the use of the Fremen's Chart
able Association of the city of New Orleans, is
offered for lease set forth in the first section of
this act, and to call for sealed proposals for the
lease Of the same PToUided, that the lessee
shall be required to make the repairs described by
specifications and plan in the report of the State
Engineer to the Governor, dated January 18th,
1866, which shall be made part of the lease that
he will also be required to keep the canal shell
road and all other property in good working order
and condition, as is provided by the charter of the
canal company; that the cost of the repairs to the
extent of sixty-eight thousand dollars shall be
allowed to the lessee, in three equal amounts, to
be deducted, ethrd each year from the annual
rent that the repairs and improvements provided
by this section, shall be made subject to the appro
val of the StateEngneer; Provided further, that
it be made condition of the lease that the lessee
shall permit the culverts now receiving the waters
of the Second Drainage District to remain open.
Sec. 3. Be it further enacted, etc., That al
the expiration of the time allowed for such adver
tisement, the Governor shall accept such proposal
as he may deem the most advantageous to the
State, and forthwith submit the same, with his ap
prevail to the Senate in Executive session for thel
approval, and if approved by the Senate, sale
property shall be put in the form of a contract
between the State, represented by the Governor
and the lessee; ProUGded, ho,rerer, that all the
proposals for the lease of said canal, which have
not been accepted, shall be open to the inspection
of the members of the Senate; Provided, tina
upon the opening of such proposals, if the Gov
ernor and Senate shall decide that none of the
proposals advantageous to the State, the Gov
ernor and Senate are hereby authorized and EN-
powered to readvertise the same for the space o.
thirty days in the newspapers the Governor may
select in the city of New Orleans and provided
stall further, that in case the Governor is not salts
fed with the proposals to be received under the
second advertisement, he is hereby authorized and
empowered if the Senate be adjourned, to lease
the same after twenty days. public notice to the
person or persons who will offer the most for the
said canal for twelve months.
Sec. 4. Be Ayfiutlaer enacted, etc., That all pro
posals for the lease of the said canal shall be
accompanied by the names of the sureties, and
the amount Of security required shall not be fol
an amount less than one years rent; and the les
see shall be bound to keep the canal in good order
and to comply with all the obligations to the State
and to the public, required of the Canal and Bank
ing Company by its charter, for the working and
preservation of said canal, under the penalty Of
forfeiture of the lease, for the violation of the
same.
SEC. 5. Be ii further enacted, ETC., That the
Governor is hereby authorized and required to take
Immediately after the fifthday of March, 1866, such
proper and legal steps as may be necessary to re-
cover from the Canal and Banking Company any
claim which the State may have against said com
pany, under the provisions of its charter.
Sec. 6. Be it further enacted, etc., That this
act take effect from and after its passage.
(Signed) DUNCAN s. CAGE,
Speaker of the House of Representatives
(Signed) ALBERT VOORHEES,,
Lieutenant Governor and President of the Senate
Approved December TO- 1866.
(Signed) J. MADISON WELLS,
Governor of the State of Louisiana
A true copy:
j. Fl. HARDY,
Secretary of State.
"-------