New Orleans daily crescent., 1866-03-02
AN ACT TO AUTHORIZE THE IEAsEor THE NEW CANAL

SECTION l. Be 1t enacted By the Senate and
| House Of Representatives Of the State of Louisi-
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 5th, 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
appertaining thereto, or claimed by said company
under said act of Incorporation, and which, by
virtue of said act, reverts to the State on the 9th
day of March, 1866, be, and the same is, hereby
ordered to be leased for term of years not to
exceed fifteen, nor less than five years: Provided
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 1t 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 an
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 Firemen's Chart
able Association of the city of New Orleans, is
offered for lease as set forth in the first section of
this act, and to call for sealed proposals for the
lease of the same Provided, 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,
yEh abs all hp do &c
he will also be required to keep the canal, shell
road and all other property in good working order
and condition, 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, one third 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 StateEngineer; Procided 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. 8. Be 1t further enacted etc., That at
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-
prova to the Senate in Executive session for their
approval, and if approved by the Senate, said
property shall be put in the form of contract
between the State, represented by the Governor,
and the lessee; Prouided, hopeuer, that all the
proposals for the lease Of said canal, which have
not been accepted, shall be open to tie inspection
OF the members of the Senate; Propided, that
upon the opening of such proposals, if the Gov.
ernor and Senate shall decide that none of the
proposals are advantageous to the State, the Gov
ernor and Senate are hereby authorized and en-
powered to readvertise the same for the space of
thirty days in the newspapers the Governor may
select in the city of New Orleans And provided
stM 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 1turtter enacted, etc., That all pro-
'osals for the lease of the said canal shall be
accompanied by the names of the sureties, and
he amount of security required shall not be for
IN amount less than one years rent; and the les
Zee shall be bound to keep the canal in good order
Ind to comply with all the obligations to the State
ind to the public, required of the Canal and Bank
Hg 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
anne.
SEC. 5. Be ii further enacted, etc., That the
Governor is hereby authorized andrequired to take
after the fifth day of March, 1885, such
'roper and legal steps as may be necessary to re-
'over from the Canal and Banking Company any
lain which the State may have against said com
,any, under the provisions of its charter. |
Sy,r, n II
lct 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 l0 1865.
a lsigned) : J. MADISON WELLS, |