The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-02-27

No. AZ, AN ACT
Relative to the Charter Of the New Orleans
Water Works Company and amending
an Act number Thirty three Of Extra SEES
sion of eighteen hundred and seventy
seven 1S77, approved March 31st, 1877.
House Of Representatives. Of the State of Lou
ia1nnn, IN Generab Assembly cOnpened, That,
at tho election to be held, on the first Monday
OF July, eighteen hundred and seventy eight
1873 and annually thereafter for Directors
of the New Orleans Water Works Company
the Stockholders Of The said New Orleans
Water Works Company shall elect four BIZ
rectors. but the City of New Orleans shall not
vote at said elections, she being already fully
represented, for the amount of her stock, by
Water Works and Public Buildings, and by
the Administrator of Finance who are er
o0icto Directors Of said Company
Seq Bet further enacted, etc, That section
Ten g0l of said Act Number Thirty three NO.
33) Of Extra Session of tho year eighteen hun
dred and seventy-seven n877) be amended and
re-enactetl so as to read as follows: "That
said Company shall not declare or pay any
dividends except in cash, and then only out Of
the net seni-annual or annual receipts after
payment Of expenses of operation and gradual
extension and the interest on it's bonded
debt" J
SEC. 8. Be Il further enacted. etc. That section
seventeen 17 of aforesaid Act be amended
and re-enacted SO as to read as follows: "That
at the expiration Of Fifty Years from the or
ganzation Of the Company. the city shall
have right to buy the Works conduits
pipes, etc, of the Company, ct u valuation to
be fixed by five experts Two to be named by
the City, Two BY the Company, and the -Four
to select the Fifth expert; but should the
City neglect or refuse to purchase said Works
etc, as above provided. the Charter OF the
Company shall be, ipso facto, extended for
Fifty Years longer, but without any exclusive
privilege or right to supply water according
to the provisions Of the Charter"
SEC. 4. Be ii further enacted, etc That the
time allowed to the said New Orleans Water
Works Company to commence and proceed to
the erection of new Works and Pipes las con-
templated by said Act Number Thrty-tfree)
mo. 33, shall Commence six months after the
organization OF said Company, and not from
the date Of the passage OF said act.
SEC. 8. BE IL further. enacted, etc, That the
full, complete and adequate supply Of water
referred to in section 10 of said act No. 49,
shall be so construed as to require a supply
OF water at the height Of not less than fifteen
15) feet from the ground wherever the pipes
of the Water Works now exist.
SEQ 6. Re u further enacted, etc, That the
word State" in section eleven Of said Act No.
80 of 1877, and in the last line thereof, be
strickea out, SO that The said Company shall
not be exempt from State taxation.
SEQ. 7. Be IL further enacted, ETC., That all
laws laws, or parts OF laws contrary to tn, ,provi-
SlOliS VI ttll5 VI @LleTeWlItl, are
hereby repealed tos the extent that they do
conflict, and that this Act shall take effect from
and after its passage.
(Signed) LOUIS BUSH.
Speaker Of the House of Representatives.
(SigneD LOUIS A. WIITI,
Lieutenant Governor and President Of the
Approved February 2G, 1878.
(Signed) FRANCIS I. NICHOLAS,
Governor of the State Of Louisiana
true copy: cses
W1hL A. STRONG,
Secretary of State.