New Orleans daily crescent., 1866-02-16

III. E$t&E3I .,,|tt E - -
AN ACT TO AUTHORIZE TEE LEASE OF THE NEW CANAL.
SECTION l.aBe it enacted by the Senate ana
House Of Representatives Of Tie State of Louisi
ana, IN General assembly conpened, That the
canal belonging to the Canal and Banking Com.
pany, and constructed under the charter Of said
company, incorporated March 5th, 1891, 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
appertainng thereto, or claimed by said company
under saidsact OF incorporation, and which, by
virtue OF said act reYerts to the State on the 5th
day of March, 1856, 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
strned 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 IL further enacted, etc., That it shall
bethe 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 oil 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 CIV.
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; Proeided, that the lessee
shallbe required to make the repairs described bv
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. sbe]i
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 tn the
extent of sixty-eght thousand dollars shall he |
allowed to the lessee, in three equal amounts, to
be deducted, onethrd each year from the animal
rent; that the repairs and improvements provided
by this section, shall be made subject to the annro
val of the StateEngineer; Prouided 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 bis an
proVal to the Senate in Executive session for their
approval, and If approved by the Senate. said
property shall be put in the form of a contract
between the State, represented by the Governor.
and thelesse Provided, ho,cepe,., 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 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 readyertse the same for the space of
thirty days in the newspapers the Governor may
select in the city of New Orleans; And prouided
still further, that in the Governor is not salts
fed with the proposals to be received under the
second advertisement, he is hereby authorized and
empowered, il the Senate be adjourned to lease
the same after twenty days public notice to the 4
person or persons who will offer the most for the r
said canal for twelve months N1'. s~%
SEC. 4. Be 1tu1ther enacted etc., That all pro.
posals for the lease of the said canal shall be
by the names of the sRretes, and =
he amount of security required shall not be for 4
IN amount less than years rent; and the les
see shall be bound to keep the canal in good order
md to comply with all the obligations to the State
md to the public, required of the Canal and Bank.
ng Company by its charter, for the working and
of said canal, under the penalty of
forfeiture of the lease, for the violation of the
anne. 1r
SEC. 5. Be it further enacted ETC.. That the : :
Governor is hereby authorized and required to take
after the fifth day of March, 1866 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 agains. said COM
ANY, under the provisions of its charter.
SEC. 6. Be it further enacted, ETC., That this =
ct take effect from and after its passage. &
s(signed) ao.s''.st DUNCAN 8. GAGB ~' y
r. e Speaker Of the House of Representatives
iisigned} "A, ags ALBERT VOORHEES,, as,,a.- 90
lieutenant Governor and President of the Senate Fl
Approved December 10, 1865. @ sna., wv. a,1'. ss =