The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1869-02-16

tricts, and Who will receive a. compensation n
per cent on all money! collected and received By
the drainage taxes already assessed IN the Firss
and Second Districts, will complete the auess-
ment Of the Third Drstrict, and levy Q tax on The
lands in said district equal to that assessed in the
taxes due in the First and Second Districts, and
the whole amount assessed In the Third District,
shall be divided into four equal parts-one quarter
shall be payable ON the LIST October, 1869, and
nually thereafter. The assessment shall remain
first mortgage on the property as now provided
by law. .ETE@ATlE
For all lots Of land sold under judgment said
commissioner shall receive ten cents on each and
The fifth section says that all moneys collected
by said commissioner shall be paid into the State
treasury, and all real estate acquired BY the nom
payment of taxes shall be considered, and held IN
trust, as separate fund and property, to be paid
over, and the titles to said acquired real estate to
be made over to the New Orleans and Ship Island
Canal Company. as hereinafter provided.
The sixth section says, that when the company
shal have excsyated portion of their canal
miles from point near the Mississippi river, and
connecting with the Bayou GENTLY, they shall
receive one-fourth of the amount assessed by the
commissioner, and patent for 100000 acres Of
public land.
When the canal shall have been excavated $50
feet wide and feet deep, they shall receive an
other fourth of the amount assessed, and patent
for 100 coo acres ofpublic land. = 80
When the canal shall have been excayated $50
feet wide and II feet deep, they shall receive
another fourth of the amount assessed, and
patent for 100 900 acres Of public land.
And when the whole canal shall have been COM
pleted as provided in the charter, the last fourth
of said assessment and patent for 100000 acres
of public land shall be paid to them.
The eighth section says that, in further consid-
GRAFTON of the aid and grants conferred by the
State. the said company shall construct and main
tain suitable levee along the north side of their
canal for q distance Of i've miles, and of such
length and dimensions as to prevent the city from
being overfowed BY any crevasse occurring above
its intersection with the river and also to prevent
the city from being overlooked by water from
No money or lands shall be vested in said COM
psny until the State engineer or city surveyor
shall certify that said protection levee is COM
pIeted in accordance with the provisions Of this
act. ol 20 eco f.,.r f.s.-...- .... :. .- .......
The above summary extract of the original
charter, and Of the additional act, being sufficient
to explain the whole scheme, we will now ex-
anime the project in its details, far the in.
terests of our community are concerned.
In virtue of this additional act, the COMPANY Is
made the recipient Of the unpaid drainage tax and
of new one, imposed for their sole benefit, upon
ing, in the aggregate. to sum of 81, 1872 0O0 and
assessed as follows:
First Draining District. .........c..... s53o.ooo
Second ......... 100000 |
inno ....-........--.- $4,000 |
Less q per cent. to ,be paid to coIlec. |
tor to be appointed in virtue of the act $3.50 |
Net amount of drainage tax 81, 81, $50 |
Add. also, 100000 acres of State lands, f-l |
10 De selected by the company. -. 100000 |