The St. Mary banner., 1920-08-28

vators, and other buildings and inn
provements upon the said canal, but
the revenues from the navigation cana
shall be kept separate from the other
revenues of the Port Such canal rev
enues shall be deemed to include
rentals of all lands leased upon the
canal lock charges, and charges fof
passages through the canal. II the
Board shall construct warehouses, ele-
yators and other buildings or improve
ments for public purposes on canal
lands the rental value of the site there
of shall be fixed by appraisers APP
pointed by said Board and the receipts
from such warehouses; elevators an1
other buildings or Improvements shall
be charged with the payment OF Such
rental value into the canal fund. The
canal fund shall be applied first In the
maintenance thereof, and thereafter in
payment of the principal and interest
of the canal bonds and in the reduc-
ton in the manner PROVIDED IN sald
ordinance of the payments and contrl-
buttons by the City of New orleans
through the Belt Railroad Commission
and by the Board of Levee Commls-
sioners of the Orleans LeVee District.
If warehouses, elevators and other
buildings or improvements be con-
structed or acquired by SAID Board
upon canal lands by the use OF moneys
other than the proceeds OF the sad
canal mortgage, the receipts from such
warehouses, elevators and other build
ings or improvements after the pay
fund. shall be deemed general reve-
nues of the Port. The interest on all
bonds issued hereunder snail be PAD
semi annually by the Treasurer OF the
State of Louisiana at his office, and
at any other place or places within or
| without the State designated in the
bonds Said Board shall place on de-
posit with the Treasurer of the State
| TO the credit of an account or accounts
to be known as Interest Accounts. in
such manner as may be provided in the
proceedings to issue the bonds, an
amount equal to the interest on all
| bonds that may have been delivered.
| Said Treasurer is hereby empowered
| and directed. and 1t is made his duty.
to pay or provide for the payment OF
| all interest that may become due upon
! said bonds. Said Board shall in add
tion in each year when any of said
! bonds become due and payable deposit
/ with the Treasurer OF the State or
Louisiana, to the credit of an account
! or accounts to be known as Redemption
Accounts the amount of all bonds ma
! turing or becoming payable, ana II
/ shall be the duty of said Treasurer to
| pay or provide for the payment OF such
! bonds Such deposits shall be made
! with the State Treas surer in timely sea
{ son for the payment of such principal
! and interest and not less than thirty
/ 800 days before the date when any
| moneys become payable. 1t snail be
the duty of said Treasurer to collect
such deposits as aforesaid, and III case
/ of failure the part of said Board to
| make said deposits in an amount SUI
/ fcient to provide for the payment of
interest due or to become due ana Tor
/ the redemption of the bonds, the said
/ Treasurer is hereby empowered and dl-
rected, and it is made his duty. to
collect the charges and revenues OF
! the Port and to apply the same, after
! providing for necessary operating eX-
penSes and any prior charges, to the
payment of the principal and inter"t
/ of the said bonds, and for that pur
/ nd 1lfh
/ necessary. the said Treasurer is hereby
authorized to exercise all the powers
| and duties vested in the Board of Com
! missiOnerS of the Port of New Orleans.
! The accounts of said Board as a De
partment of State shall be subject to
. audit and investigation by the state
: Auditor or Supervisor of Public Ac-
! counts, and the auditor shall counter
/ sign all bonds hereafter issued The
/ Board may acquire real and personal
| property subject to mortgage or other
lien and may make or execute pur
chase money mortgages or property
acquired. Nothing herein contained
shall prejudice the right of the holder
of any bonds of the Port now outstand-
ing. or that may be issued under the
ordinance and mortgage heretofore
made and executed for canal purposes
to Segrega ton OF such revenues as
are applicable to his bonds under said
| ordinance and mortgage or other COW
enant of his bonds. This amendment
! shall not repeal any statutes hereto
! fore enacted. except insofar as incon-
| sistent herewith.
Section 2. Be it further resolved
etc. That on the official ballots to be
used at said election shall be placed
the words, For the proposed amend
! ment to the Constitution giving addi
tional powers to the Board of Commits
, sioners of the Port of New Orleans in
/ the financing and control of the prop
erty under it's administration and the
words, Against the proposed amend
ment to the Constitution giving addi-
tional powers to the Board of Commits
sioners of the Port of New Orleans in
the financing and control of the prop
| erty under it's administration" and
each elector shall indicate his vote for
or against the proposed amendment as
provided in the general election laws
of the State.
r. F.. WALKER.
Speaker of the House of Representa-
tives.
HEWITT BOUANCHAUD,
Lieutenant Governor and President OF
the Senate.
Approved: July 7. 1920.
JNO. NJ. PARKER,
Governor of the State of Louisiana.
A true copy:
JAMES j. BAILEY,
Secretary of State.
ACT NO. 14O.
House Bill No. 286-By Mr.. Schell.
JOINT RESOLUTION.
Proposing an amendment to Article 303
of the Constitution of the State OF
Louisiana as heretebefore amended
relative to pensions for Confederate
Veterans
Section l. Be it resolved by the
|. General Assembly of the State of Louis
lana, two thirds of all the members
elected to each House concurring. That
Article 303 OF the Constitution of the
State of Louisiana as hcretobefore
amended be amended and re-enacted so
as to read as follows:
Article 3O3. A pension not to exceed
Thirty Dollars $4,000 per month shall
be allowed to each Confederate soldier
or sailor veteran who pOSSeSSeS all OF