The St. Charles herald. [volume] (Hahnville, La.) 1873-1993, 1920-10-30

treasures y the State to the credit Of an
account or account. Tn he known as in
terest accounts, In sucb manner as NAV
be provided In the proceedings to issue
the bonds, an amount eoual to the inter-
es. VI. "n DoNs that may have been de-
Wereu' aiu treasurer is hereby en-
powereu anu directed, aRd it is made his
duty, 10 pay y Provide for the payment
OF an ihlerest mat may become due upon
SAID Dohos- oaad Board shall in addition
In eacn year Wien any of said bonds be-
come que anu payable, deposit with the
Treasurer Vi tne State of Louisiana, to
the credit oi an account or accounts tc
be known as resumption Accounts. the
amount of all bonds maturing or hacon,.
ing payable, and It shall be the duty of
said treasurer topay or provide for the
payment OF such bonds. Such deposits
shall be made VIII the state Treasurer
in timely season far the payment of such
principal and interest and not less than
thirty 600 days before the date when anv
moneys become PAYABLE. It shall he the
duty of said Treasurer to collect such de-
posts as aforesaid, and in case Of failure
on the part Of said Board to make said
deposits in an amount sufficient to pro-
vide for the payment Of interest due or
to become due. and for the redemption
Of the bonds. the said Treasurer ia here
by empowered ami directed. and it is made
his duty, to collect the charges and ex-
enues OF the Port and to apply the same.
after providing for necessary operating ex
penses and any PRIOR charges. to the pay
ment OF the principal and interest of the
said bonds. and for that purpose and for
such time as may be necessary, the said
Treasurer is hereby authorized to exer-
else all the powers and duties vested in
the Board of Commissioners of the Port
of New Orleans. The accounts of said
Board az Department OF State shall be
subject to audit and Investigation by the
State Auditor or Supervisor of Public
Accounts. 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 purchase
money mortgages on property acquired
Nothing herein contained shall prejudice
the right OF the holder Of any bonds Of
the Port now outstanding, or that may be
issued under the ordinance and mortgage
heretofore made end executed for canal
purposes to a aggregation Of such reve-
nues as are applicable to his bonds under
said ordinance and mortgage or other
covenant OF his bonds. This amendment
shall mot repeal any statutes heretofore
enacted. except insofar az Inconsistent
herewith.
Section !. Be 1t further resolved, etc.,
That on the Official ballots to Ne used at
said election shall be placed the words
For the proposed amendment to the
Constitution giving additional powers to
the Board Of Commissioners Of the Port
of New Orleans In the financing and con-
troll Of the property under it, adn1inistra-
tion." and the words. Against the pro-
posed amendment to the Constitution
giving additional powers to the Board
OF Commissioners Of the Port or New Or
leans in the financing and control Of the
property under IFS 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. r. WALKER,
Speaker Of the House Of Representatives.
HEWITT BoUANCHAUD.
Lieutenant Governor and President Of the
Senate.
Approved: July z, 1880.
JNO. NJ PARKER.
Governor Of the STATE OF Louisiana
A true copy:
JAMES J. BAILEY,
Secretary OF State.