The Natchitoches enterprise., 1920-09-09

Amendment Additional power az
jurisdiction may be conferred by Act
the Legislature. Said Board shall ha,
extend and improve works for Pc
purposes within the limits of the Por
including wharves. docks. warehouse
grain elevators. locks. slips. lateral
provements, and may dredge shipway
channels, slips. basins and turning
basins in the Mississippi River. Sal
Board may without further legislativ
enactment borrow money and issu
notes and bonds under the followin
conditions and not otherwise: 1t ma,
with the approval of the Governor an
the Auditor of the State, for it's publ
porary loans, payable within one yea
an amount not exceeding Five Hundre
Thousand Dollars ($5oo.Oo at any on
time outstanding. and may in addition
oo,,.ov;.r oorroW money In anticipation of tn
foliage. storage service and othe
charges which have been actual,
earned but have not yet been re
er1xsa ernor o, W.. shs apptova Of the Coy
; purposes other than the payment o
| current expenses of the funding of in
| deotedness incurred or to be incurred
r aor current ctn expenses. borrow none,
Million Five Hundred Thousand Dollar.
N6.6oo.ooo). Said board may. with tn.
approval of the Governor, and for like
purposes borrow other and further
sums and issue bonds in the manner
following: When the Board shall have
ascertained and certified in writing to
The state Auditor or the Supervisor OF
ruol'c accounts the amounts Of rev
two fiscal years Immediately preceding
after deducting therefrom the amount
or operating and maintenance charged
and expenses. and all sums payable
-,
cipal and interest of its bonded debt
and the State Auditor or the Supervisor
or Public Accounts shall have verified
and approved said certificate. the Board
an amount the annual interest upon
which is not in excess Of the average
net revenues for the two fiscal years
smmediats1y as,d dl1t;ayy. preceding as shown by
to such net revenues of the preceding
fiscal years as certified to the State
Auditor or the Supervisor Of Public
Accounts. the net income and revenues
ducins wharf, dock. warehouse. els-
vator or other structure to be acquired
~ SAID Board hy purchase or expro-
Rs,aud9n Rsnu on. from tho prooeeds of such
come Of such revenue producing utility
shall be determined and certified BY
the Board and approved by the State
auditor Auditor or the Supervisor Of Public
the approval OF the Governor borrow
money and issue bonds to refund
bonded indebtedness heretofore incur
red or herea fter to be incurred and ma
one year Of the date Of aush refundinx.
All bonds issued under the foregoing
provisions, except as otherwise ex.
prsssly provided, shall run not more
issued in serial form. payable in annual
,s.n ,hsts''me"ts; 'ommsncing not more
amount payable each year for prin.
as practicable. but annual installments
Of principal may be axed at Five Thou
saaa e 81 boeS. 1s.rf:. =.
nual installments commencing not moro
than one year from date. An Of the
said bonds shall have the same exemp-
ton from taxation. and the same priv
!sr deposit with the State or its OF.
1cers or any of its political subdi-
Ii.ions or municipalities. as was
ion to the bonds therein authorized. /;
Tutors of minors and curators Of in. |
erdicts shall be authorized to invest !
he funds In their hands In any of such {;
'onde. Nothing herein contained shall |
meet the power of said Board to issue
'onds for the construction Of the nav
cation canal under the ordinance and
ecured by the mortgage heretofore
uthorized to carry into full effect said
rdinahce and mortgage and to issue
nd sell for canal purposes the re-
1ainder IA, Of bonds thereby authorized.
he contracts made with the Board Of
'evee Commissioners Of the Orleans
evee District under date of June 2sth. II
els. February 26th, 1919. November
Z nd
ne City Of New Orleans under date Of
ugust 18th. 1918. through the Helf
abroad Commission to carry into
nect ne Act No. Of 1s1s IN relation to
ed and confirmed: Said Board shah
ave the power to lease for manufnc-
ring, commercial and business pur.
oses, lands acquired for aaid canal
acn ned;ns leases may run TOR a term not
.ntAi without any provision tor re-
swal. readjustment or reAppraisement,l
Ut may run fpr term not exceeding
,afl afffSnas conesn ts yeass' provided they
appraisal OF the premises and a re.
ljustment Of tho rental at Intervals
IT exceeding ten u0) years after the
,piretion Of the first twenty-year
bard and the lessee cannot agree upon .
. readtustment and reappraisement.
ey each shall appoint an arbitrator
no shal! have the powers Of amicable
to whom the matter shall
referred for decision, and in case Of
saEreement they shall appoint an um-
re and decision of any two shall he
nding upon the parties. Said Board
tors. and other buildings and inn
ovsments upon the said canal, but
e revenues from the navigation canal
al be kept separate from the other
venues ven s,ei, OF the e. Port. Such canal rev.
ntals of all lands leased upon the
nal. lock charges, and charges for
ssages. through the canal. If the
.n ara sna;i construct warehouses, ele-
nts Tor public purposes on canal
ids. the rental value OF the site thers.
shall be nxed by appraisers ap-
'm.eo 'r o,o ok saia hoard and the receipts
Ter buildings or improvements shall
charged with the payment Of such
ltal value into the canal fund The
,al fund shall be applied first in the
intenance thereof, and thereafter in
rment Of the principal and ;.,eiest
: the r. canal ana DO bonds, and n ne fsduc:
ioas sy 81 .hs .ss ~ g. sn o4,ssa: s9asri
oush !Af Belt Railroad Commission
by fhs Board of Levee Commits
as5a aar.ba,tss. e ths Orleans Levee district
WAhNaVNeoC, elevators and other |
ldings or improvements be con.
ucted or acquired by said Board
IN canal lands by the use of monevs
er than the proceeds of the said
al mortgage. the receipts from such :
rehouses. elevators and other build
or improvements after the nav.
1T OF the rental value to the cansI
d. shall be deemed general revs.
2 Of the Port. The interest "a All
as issued hereunder sh~ll he paid
= .i-annualiy BY the treasurer at the
to o. lfvlA4na At his office. and
ssnx .2thsF place or places within or
90. Sai4 Board shall place on de-.
Z with the Treasurer OF the State
ne ne credit OF an account or accounts
ae known a. Interest Accounts. in
manner - may be provided in the
ceedinGs 70 issue the bonds. an
'unt equal to the interest on ali
40 that may have been deliyered
Treasurer 10 hereby empowered
directed. and 1t 10 made his dutx
'ay or provide for the payment - -
lnterest that may become due unon
oonos. said Board shall in addi-
m each year when any Of said
as become dua and