New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-04-18
New Levee BIN IN Alississippi.
A .Iankann d;snaft.h of the fourfAAnth 40

New Lovee Bin In NAt0D11D1ppfs
AJackson dispatch Of the fourteenth says
The new levee bill provides that George
F. Brott, 8. J. Burrel1, w. p. Billings, Jones
$. Hamilton, Hart H. Harris, Albert Glib
son and James n. johnson be incorporated
as ''The Mississippi Levee Company" They
may issue certificates Of stock of $100 each
trict to be composed of the counties of
Washington, Bolivar, Issaqnena, Holmes,
LafiOur and Sunfl0wer. The location and
dimensions of all levces constructed, re-
paired and maintained shall be determined
by commission of two engineers, to be ap-
pointed, one by the Governor and one by
the company. Said engineers to report to
the Governor and president Of the cow-
pany, estimates, with maps and profiles of
and repair levees.
The board Of supervisors may appoint an
engineer who shall have equal powers in
their county, and they shall make an .ex-
animation of the levees once in ninety
days, and make report to the .auditOr and
secretary Of the company of the valne of
work done, condition and estimated re-
pairs Of levees. Any changes, alterations
or repairs 40 recommended shall be made
forthwith by the company. The engineer
appointed by the Governor shall receive
ten dollars per day and necessary cOmpen-
satiOn. The company are vested with ex-
elusive custody, management and control
of all levees in said district for fifteen
years, with all the rights, powers, etc., now
vested in the board of commissioners of dis
trict No. l.
They shall appoint board of inspectors
in each county to report to the president
least twice q weekly the condition of the
levees in their respective counties. and
when a break seems likely they shall notify
the president Of the board Of supervisors,
who shall call out all male persons over
sixteen. and under fifty years, within ten
miles thereof, who shall receive two dollars
per day for labor, and in case Of refusal to
serve shall be fined three dollars per day.
The company, shall construct 1T least five
until all levees required are completed, and
within thirty days after . report of esti.
mates 10 received from the engineers the
auditor shall spportion the cost of said
levees at the rate OF fifty cents per cubic
yard, among the several counties in the. dis
trict, according to their assessment rolls,
and for fifteen years thereafter ten per cent
of the same, with cost of collection, shall be
assessed and collected each year, as are
State taxes; said ten per cent each year
shall be collected and paid into tho State
treasury in United States funds or matured
bonds of the company, and there set apart
as the "LNvee Construction Fund.-" to be
used solely in the redemption of the bonds
Of the company with interest until the same
are paid and retired. ga
The assessor and collector Of said tax
shall receive one per cent each, provided,
that if this appOrtiOnment is not made prior
to June l, 1871, q tax of one and q half of
one per cent is levied for the year 1871, on
oil fnvoh1 v,rOvNov<v in tho S1satrsok 1so,,
of the ten per cent for the year.
There shall also be collected in the same
manner in currency for the period of fifteen
years one fifth of one per cent on the tax
able property in the district to be set apart
as the levee repair fund, and to be paid to
the treasurer OF the company as c0mpensa-
ton for maintaining the levees in good re-
pair, provided, that any judgment or decree
of any court for damages sustained by me-
glect or failure of the company to erect and
maintain said levee, shall, if not already
satisfied, be paid by the treasurer. out Of
said fund.
The company may hypothecate or trans
fer this fund. or any portion Of it, to any
person or IersOns.
The present levee board is continued with
full power to collect as heretofore, until
all levee obligations now outstanding are
settled.
Inc company may issue It's coupon bonds,
bearing interest at eight per cept, payable
semi-annually. to the amount Of the sum Of
the cost Of the construction of the levees, as
estimated by the commission of engineers,
limited. however, to three millions. And
they shall be registered in the Office of the
State Treasurer, who shall indorse the same
on their face, and not more than $2O0, 900
shall be at any time issued in excess of the
value of the work completed.
After the payment Of the. bonds and in
terest, the balance of the construction fund
shall be placed to the credit of the "repair
fund.-" whence it reverts to the company.
As security for the faithful performance Of
their contract, the company shall file
bond in the sum Of two thousand dollars.
The bill amounts to this: The company
contract under q $1,000 bond to keep the
levees in good repair, and to build such
new levees as may be required. For the
former they are to receive one-6fth of one
per cent per annum on the taxable property
in the district. For the latter, they receive
seventy-five cents per cubic yard, with the
money in advance to the extent Of 1000
at all times. The bill came up in the House
today. and was favored by DR.. Sites and
opposed by Mr.. Ross, The bill finally
passed by a vote Of 48 yeas to % nays.