The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1920-10-30

| may also construct warehouses. ele-
| vators. and other buildings and I'M
provements upon the SAID canal, but
| the revenues from the navigation canal
shall be kept separate from the other
revenues of the Port. Such canal reE-
enues shall be deemed to include
canal. lock charges, and charges tor
passages. through the canal II the
| Board shall construct warehouses, Gle
vators 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 and
| other buildings or improvements SHAH
| be charged with the payment Of such
| rental value into the canal fund The
| canal fund shall be applied first in TIL
| operating expenses of the canal and the
| maintenance thereof, and thereafter III
| payment of the principal and interest
| Of the canal bonds, and in the reduc-
| ton in the manner provided in SAID
! ordinance of the payments and contrI-
| buttons by the city Of New Orleans
| through the Belt Railroad Commission
| and by the Board of LeVee toUm!S-
| sioncrs Of the Orleans Lcvee 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 tn" said
| canal mortgage. the receipts from SUcH|
| warehouses, elevators and other build
IheS u mp ~ "a a. t"S
| meht OF tme i'HJ"i NaaUt ~ nlG S"l"i
nues of the Port. The interest on all
| bonds issued hereunder shall bo paId
! semi-anuualIy by the Treasurer OF the
/ State of Louisiana at his office, ana
! at any other pla't OF places "iltlh or
! without the stat o'H'AiatSG ~ jne
! bonds. sad Board ShaII place on dc
| post with the Treasurer OF the state
| TO the tFeaIt OF an dE'ouhI OF account y
! 10 De KNOWN as I'IlSi - - mo IT'D
such manner as may ne IF"E!d'4 ia tte
| proceedings 70 ISAAo me "oi'uS' ,'tt
amount equal 70 inc interest," on q
! bonds that may nave Deeh dtIfNeFt'.
| 5aid 1f"aSuF IS HtIr"S thlpo""!'"
! ana diFrtttu ~" Is maui NJ '''l@
| 70 pay or Pro- .u1 ioi tHt pa ,-.' HI 90
| All litttltSs I'iat "i1S ~ IN ""' ~,
/ sald ponoS. 9aId 1OaFo sii'tlI li ""dt
Lnr,i, hc,.o,,,a 3',.. and n,,y,i,1s J,,[t
Xit6 me treasurer Of The STAT. M
! I a,,i.iar, 70 ~ ,.radi+ If ar, .....,,,,r.s
~ ,.,'I,II'te - he I1o.r ..,lr',t,
| Accounts. the amount Of an bonds ma
tmrinr or ba~on1iro ,,av. hIe ana il
eG,iI he +ha az sai ~. s,rar -
DaT- or nrGyfd4 far fine navn,art Of SUN
| boIds, such deposits shall he made
Win the State Treasurer III rin.aiv ~,
soS for the navT7ent Of sUch rrir...4f
and interest and not less than thirty
moneys become payable. 1t shall hs
the duty of said Treasurer to coucrt
such deposits as aforesaid. and in case
OF lHIlult on the btIJ ol EdIi t'DLt'4 80
make said deposits in an amount sui
tictent to provide for the payment OF
interest due or to become due, and for
the redemption OF the bonds. the said
Treasurer is hereby empowered and d.
reeted, and il is made his duty. /"
collect the charges and revenues OF
the Port and 10 apply the same, after
providing for necessary operating *
penses and any prior charges, to the /
payment Of the principal ana inters
of the said bonds, and for that pun
pose and for such time as may be
necessary. the said Treasurer is hereby
authorized to exercise ali the powers /
and duties vested in the Board Of Com |