The Bienville Democrat., 1920-09-23

day in November, ls2o, to-"h'
The Board of Commissioners OF tne
port of New Orleans shall except do
otherWise herein changed and amendea' /,
have and exercise all powers now con1
Ssrrsd upon them by Constltutlohaa,
Amendment. Additional power any
jurisdiction may be conferred py ~ go va
the Legislature. Said Board snaln .nmct m~s
full power ana authority 70 cons'1 pnrt auS
extend and improve, WORKS ~ tUa port
purposes within the limits Oh S,Sas .nS
including wharves, COCKS, ,,n. m"'Il ,atarals
Grain elevators, locks, SIPS late' 90 %'
Saains and other structures anu I'M
nrovements. and may dredge shlpWays'
channels. slips, basins ana turhols caIa
BASINS in the Mississippi River ea,a 3ana
Board may without further leg,siasa,ue saa,,e
anscfment borrow money ana issuU ,iu0
0ntes and bonds under the telloWlns
nonSitions and not otherwise: ~ may,
Stth the approval of the Governor anu anu
ths Auditor of the State, Tor les pun
nurposes. borrow on notes loi .em
porary loans, payable WITHIN one yarsd yTad
an amount not exceeding rive ilumu ans
Thousand Dollars ($50o,0Oo) at any .;nn Hmo
time outstanding, and may IN auut the
borrow money in antlelpa''omh h ~ arfo Ga
collection Of charges 1or va Wh"' atbar
n.
cSarses which have been actually
earned but have not yet Deeh re
csivad With the approval OF the uoH
ssnor of this State, it may for pupnc
n,'rnoses other than the payment ol
current expenses Of the funding Oh IN,
dsh4edness incurred or to be incurred
for current expenses, borrow ltonsy az.
and issue bonds to the amount ol olA IN
Million Five Hundred Thousano Dohals az
Iss5o0. oOO). Said board may, win IN ihe
sMnnroyal of the Governor, ana lot MKe
purposes, borrow other ana luiene,
sums and issue bonds In the maanvs hava
following. When the Boara sha.i n"to "
ascertained and certified IN wrntims wtnns ~ "
the State Auditor or the Superviso. W
Public Accounts the amounts u. 20 Sor NE
ewo fscal years Immediately preceding,
oFtar deducting therefrom the amoun,,
i ~ onerating and maintenance chalseu "
onS sxnenses and all sums payaple
Smr;np said year upon maturing prih-
cinai and interest Of its bonded aept
. onS the state Auditor or the SUPERVISE !
~ pmhlic Accounts shall have Verlle9
. and annroyed said certificate, the boaIC
I NAV barrow money and issue ponds "
an amount the annual interest upoi
a 1rhich Ia not In excess OF the aVeras,
A nat revenues for the two fscal year
q iromedIately preceding as SHOWN y.
e said certificate. The Board may au, u,
t; 70 such net revenues OF the pleeeSut.ut' Stat =
II ascal years as certified 10 tto p,,hIi SiI
le Auditor or the supervisor VI ,,on1,a u
# Accounts, the net income anus anu ausoI nro
l. for such years of any reVehue Pr
m Sncine wharf, dock, warehouse, eie
a. Totor or other structure to be acquire
3, bv said Board by purchase or e4pio M
,e nsiation from the proceeds OF sue
p kond issue. The net revenues ana ~ \
re- oonoe of such revenue-produclng u.iiie :
ce SSaii he determined and certlnea .
ir shs Roard and approved by the Stai
IN Amaitor or the Supervisor OF fupi
q Accnunts. Said Board may also WI.
or tha annroval of the Governor poIro
NJ naonev and issue bonds 70 Ieiun
og hnnSed indebtedness heretofore incu.
#. rsd or hereafter to he incurred anu ,.h n,'
ed turing and becoming payaple wiin
Or, one year of the date OF suen reiumu,i snnnir
ed All bonds issued under Lne ,isa a.
in provisions, except as Vtnei ns m,s mo
nd pressly provided, shall its run nSe shall ~
,at isaned sane in serial form, payable In annu
~ ntoii,nants i5sto commencing not mo
he than ten (l0) years from date I
smounf rayaMe each year 1or pr
e. anlolnr a,ns, ond interest to be as nearly ecu
~ S.p~ S.p~raoticahle. but annual installmen
rar - rr;nc cinal may be fixed at Five Iho
,ai .anS Dollars is5,00O) or the nears
md ,~mlt,nle thereof. Refunding ponds
aid snAN Hereunder shall be payable IN .
ers mail inatallments commencing NOT nv !.
nts thsn one year from date. All oi
ex- said bonds shall have the same exen
re- tinn from taxation, and the same Pr er
by ileea of registration ana release -
registration, and the same eng ~ .nii
,ed. for deposit with the state or LIS s,h
be ficers or any OF lts pGn itiaa as '
ced visions or munlclpanties' C"nst;
nd eranted by Article 321 OF the Constl
NJ t,nn tn the bonds therein autholiz
the T,,tors of minors and curators oi
rds: taraicts shall be authorized 10 INV
rel tba funds In their hands In any ol % ..
ard honds Nothing herein contalheu 81 ?.
Jew feet the power of said boara 20 10
ndi. hnnds for the construction Oh the II
md. i~afion canal under the ordinance
ler- aecnred BY che mortgage here.os
TneSs and executed, and sald boai.
amthorized to carry into full ensct
nta- nrdinance and mortgage ana 70 40
and sell for canal purposes tne
n mainder of bonds thereby authoIi
t of and said ordinance ana mortsas1 =
ths contracts made with tne Dual. Nsi.
Teyee Commissioners OF tns oiie
Leyee District under date OF June a,,
ANA 1918, February 26th, lslss ~, da ,
14th, 1919, and the contrac. na 40
the city Of New Orleans under oat
amoust 18th. 1918, through the
Rajlrosd Commission to carry
sffart Act No. 8 of 1918 In relatio
eI n,S No yigation Canal are hereby
o. aad and confirmed. Said Board
hava the power to lease for manu-
Con- .''r;ng commercial and business
lana, nasaa' lands acquired for said g
MS to guoh leases may run for term
t ex- evcaading twenty years at
r for rantai without any provision Ior
ce OF nawal readiustment or reappraisei
TENS, hut nav run for O term not excee
men ninety-nine min (99) years, provided
police shall contain clause or ciauses
lively. reanprajsal of the premises ana
Gen. adipstment Of the rental az mte
louis- not exceeding ten QO) years alle
lected expiration of the first twenty
It an nariod In the event tnat tue
i the Board and the lessee cannot aslse !, .,
ana the readjustment ana TeappiaihsiU.
,rs Of thev each shall appoint an arplt
,ction, & rao aball have the powers OF ami
IN to enn,nonnders to whom the matter
New he referred for decision, ana IN co
safter, disagreement they shall appoint al
| levy nire and decision Of any two Shs
seding binding upon the parties. SAN
axable may also construct warehouses,
d and yators. and other buildings an,
!. The nrovements upon the SAID cana
hereby ths revenues from the navigation
i and shall be kept separate from the
n sys- ravenues Of the Port. Such cana
triple enues shall be deemed 70 u
Iepart- ranfals OF all lAnds leased upo
ase In eanal lock chargesa and charg,s
ployed nassages through the canal.
e used Board shall construct warehouses
lsiyely vators and other buildings or I'M
lccord- ments for public purposes on
said lands, the rental value OF the site
m time ~ shall be fixed By appraiser
nointed by said Board and the r
ID, ETC., frnm such warehouses, elevator
omitted other buildings or improvements
Of the he charged with the payment Q
e with rsptal value into the canal fund
ion, TO canal fund shall be applied nrSl
ongres- operating expenses OF the cahai
gember. maintenance thereof, and thersa
d upon navment OF the principal ana y
to the ~ the canal bonds, and In tne
OF New fion in the manner PROVIDED
not ex- oraInance of the payments ana
d police Sutions by the City OF New !
amend through the Belt Railroad Conn
ing tne and BY the Board OF Levee = =
special sioners of the Orleans Levee !
It's fre n warehouses, elevators ana
d eaon buildings or improvements o