The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-04-23
THE LEVEES AND THE LOUISIANA
LEVEE COMPANY.

overflow OF tnt alIuElal ldnGS OI tne Stalt u
louisiana" with power for that purpose It
contract with the State of Louisiana, an'
under such contract to locate, construct
build and own, maintain, control and us
levees on both banks of the Mississippi River
and of such tributaries and outlets Of tn
same as may be deemed necessary, etc.
"The capital stock Of the company not I,
exceed twenty millions Of dollars"
"The corporation TO go into operation a
soon as one thousand shares of its capita
stock are subscribed for, and these articles
are recorded as required by the laws Of thu
State"
The company organized under the abov,
act Of incorporation made the contemplated
contract with the State by virtue of Act
No. of the Legislature, approved Februar.
30 1871, the second section of which contain,
the terms of the contract, which are STATED
to be for the purpose Of providing and
mainta ming proper and efficient levees
throughout all portions of the State watered
by the Mississippi River and the rivers
|
the same, and to protect the inhabitants
from nundatioDs,' by which contract the
Louisiana Levee Company, for and in con
sidcration Of the compensation, benefits
take charge of, manage, control, con
struct, maintain, repair aud keep in repair
all the lcvees in this State Oh the Mississippi
River, its tributaries and outlets, and such
levees in the State Of Arkansas as may be
necessary" etc, and was "veste,l
with the sole and crclusire control, manage
ment and custody Of all the levees of this
State for the period of twenty-one years
from the day when this act shall take cf-
feet"
The company was to construct not less
than three millions Of cubic yards per year.
and, after the completion of any and all sec
tons of said levee, said company was to
maintain the same up to the standard di
mansions required by the report of said com
mission Zone of whom was to be an appointee
of the company, and in the event Of said
corporation failing or neglecting to do SO
it was to he held liable in damages 10 any
person or persons injured by reason Of said
neglect or failure, with certain exceptions
named.
To remnnerate the Company. "at the
rate Of sixty cents per cubic yard Of said
work there was to be levied a tax of two
mills upon the dollar Of the assessed valne
of the property of the State" for " twenty
one years." to "be paid over to the Treasn-
rer of the State and set apart as IL special
fund, to be known rs the 'Levee Construc-
ton Fund.-" and annually for the period
Of twenty one years from and after the pas
sage Of this act two-tenths of ore percentum
upon the a sessed value of the taxable prop
erty within the State to be set apart and
known as the 'Levee Repair Fund.-" was
to be levied by the Auditor; which fund as
collected was to abe paid over to the Treas
'irer of said Company, upon the order Of the
State, as compensation to said Company for
said lerees IN good and efficient re-
pair, according to The standard as he,yinbetore
DrOrided."
Subsequently, on the 18th Of February.
1871, the Legislature, by Act No. 81, APP
proved that date, approved the contract on
his subject, which was entered into by no
toral act of Goth Feb, by aud between the |
Directors of said Company and the Governor
IF the State, by which the Commission of
Engineers were required to limit the
amount of levees to be constructed as re-
Iuired by their report, 80 that they shall
rot exec, d fifteen 1900, OOO) million cubic
ards" and "instead of three million cubic
,ards Of levce, to be constructed by the said
ronpany annually" it shall undertake the
), old year, and annually thereafter, to
construct five MILL n cubic yards until said
evee shall be completed to the standard re-
Iuired by the report of said Commission"
The contract thus modified was accepted
md entered into as above on TIC Goth Of
Feb, 1871, and approved by the Legislature
~ the said Act No. q, on Feb. %, 1871. At
his date the contract commenced to run.
The President of the Levec Company, in
column advertisement published in all the
ally papers New Orleans) Of Sunday
morning, the 10th April inst, and which
an, therefore, be considered as the latest
nd authentic information, makes the state
nent that d" the Levee Company commenced
work in December, 1871" and from that
late (Which may be fixed at the 3lst Of De-
ember) the company had constructed up to
late 4,OO7 ,039 cubic yards Of levec, at a cost
# 81, 2S6, 800; in which sum, however, is in
luded all the repairs done on the levees
ince December 1871. But allowing the
whole expenditure to have been for con-
traction Of levees, the cost per cnbic yard is
he merest trife over 81 cents, whereas the
contract gives 60 cents per cubic yard, or,
IS amended in 1873, so cents.
The President Of the Levee Company says
II his card, that all the money received from