The Bienville Democrat. [volume] (Arcadia, Bienville Parish, La.) 1912-1980, 1920-10-28

DAY In November, lSav, tV-wR'
The Board of Commissioners OF inc
Port Of New Orleans shall, except ~
otherWise herein changed and amenasa'
nave and exercise all powers now con,
ferred upon them by ConstltutWnaa
Amendment. Additional power any
Jurisdiction may be conferred py a.. Va
the Legislature Said Board snam . n"r
full power and authority 70 cens'i pr;
extend and improve works Ior P av.'
purposes within the limits Oh . tae
erain elevators, locks, slips iatera.s'
basins and other structures anu IN
movements. and may dredge shlpways'
channels, slips, basins and turning
hasina in the Mississippi River. saio
BOARD may without further legislat,ve
enactment borrow money ana Issue
rotsS and bonds under the folloWins
Conditions and not otherwise: IL may,
With the approval of the Governor amu
the Auditor of the State, for us puo.,o
Durposes, borrow on notes lol .o
porary loans, payable within one n yHasdi
an amount not exceeding FIVE iunu
Thousand Dollars ($500,0oo) al any Hme
time outstanding, and may IN aoui'i ths
borrow money in anticipationh ar+ogs
collection of charges TOT W'al atber
foliage, storage service anu ot W
sSarSes which have been actually
sarnsd but have not yet been re-
csivNd, with the approval OF the Coy.
amor arr OF this State, 1t may for PUBIC
rwrnossa other than the paymeht VI
surrent axpenses Of the funding OF IN
Sshtadness incurred or to be incurred
: for current expenses, borro" nior ~.
ana issue bonds to the amount OF olx
WiIl,on Five Hundred Thousand DOLLARS
1Ss zoe 0O0). Said board may, win .ho
sMnnroyal Of the Governor. ana for MRs
nnrnoses borrow other and further
snrns and Issue bonds In the manner
fsilnwinr: When the Board snail nave
asoertainsd and certified In writing "
+Ss state Auditor or the Supervisor OF
Public Accounts the amounts o. les
enue and iacome OF the fort LUZ .mo
two fiscal years Immediately preceu,mst.
after deducting thorefrom inc amuun;
Of operating and maintenance cnanfT,a -
and expenses, and all sums Wv ,
during said year upon maturinsS ggeht
ga tha state Auditor or the Supervisor
~ public Accounts shall have Verlhe9
snA snnroyed said certificate, the boaru
! NAV borrow money and issue pohas "
:, an amount the annual interest upon
a wh,ch Ia not In excess OF the aVerase
: vat ravsnuss for the two fiscal years
!, Immediately preceding as SHOWN W
q said certificate. The Board may aue
% such net revenues Of the precealne
i S,eai Years as certified to the Siat'
a Auditor or the Supervisor OF ruDi.'
: Accounts. the net income and revenues
TNr auch years of any revenue pio
n Sua,nT wharf, dock. warehouse, els
q Tator or other structure to DO ACQUIRES
nv said Board by purchase or eApl pro,
- nr,atlon from the proceeds OF sue
= kond issue. The net revenues anu NM, -,
q come Of such revenus-produclng usliI =
70 shall be determined ana ceItlneSS CO. y
lr the Board and approved oy the p TiEi
IL Auditor or the supervisor VI W. u Mt
a Accounts. said Board may also WIZ
~ ~ annroyal Of the Governor borro'
=. noorsy and issue bonds TO refun
- hnmSsd indebtedness heretofore Incur
=. IA mr. hereafter to be incurred ana nla
Al turing and becoming payaple WIN,
~ ora YEAR of the date Of such refunalnl
aS All bonds issued under the foregoin
In mrovis,ons except as otherwise ..
ID pnrssalv provided, shall run not mo,
AZ thon fiffv wears from date, snail
st ,asusd in serial form. payable In aknu
20 irateiiments. commencing not mo
he than ten (io) years from date .
smnunt payable each year for prl
r. oinsl and interest to DO as nearly equ
ne ~ nracticable, but annual instaiim n,
Tar ~ rrinoipal may be fixed at Five Ino
al ssnd Dollars (s5,0o0) or the neare
nd rnMitinle thereof. Refunding ponus
aid aued hereunder shall be payaole IN ~, q
ers nual installments commencing noe iAV
nts fhan one year from date. Al y.
ax- said bonds shall have the SAM nn,no N mi
re- ton from taxation ana the o SAM r. r.,
hv slegs of registration and release lr'
raSistration, and the same elgioli
,ad tor danosit with the State or lts
1 S Hcars ar any of Its political SUB
"a .,ss,nna mr. municipalities, as Y
nd. sranted by Article 321 of the Consti
90 tn tbs bonds therein authoriz
~ ~ M NJ ~ minors and curators OF
. snc s.rS;cts shall be authorized to INV
~ ~ funds in their hands in any OF 81
ora hnnds Nothing herein contained sn
~, sSsct the uower of said Board 10 ls
,Si. honds for the construction OF the III
nd. iration canal under the ordinance :
lao. occurred by the mortgage hsretoi
made and executed, and SAID boafo
authorized to carry into fuil ehsc' y
MA. ordinance and mortgage ana 70 10
and sell for canal purposes sns
n. mainder of bonds thereby aulno,i
/ of and SAID 0EulhahIo az .. AZ poord
the contracts MADE WIN tne DC Nrle
Tsvee District under date OF June
an. iS1s FEBRUARY 26th, 1919, Noven
i'm 1919. and the contract mace Y
ths citv Of New Orleans under dat
Ameust 18th. 1918, through the
najirosd Commission to carry.
aTant Act No. 3 Of 1918 In relation
ia Medication Canal are hereby
., eaS and Confirmed. Said Board s
h hou tha mower to lease for manu-
Cen. tar,ng commercial and business
lana, Noses lands acquired for said CT
ls TO Such leases may run for a term
ex- srceedine twenty years 81
, for rsntal without any provision LOT
CO OF newal readjustment or reappralsen
TENS, INT may run for term not excee
men ninety-nine (Ss) years, proylaea
'ohce ahall contain q clause OF CLAUSES
Ively. Teappraisal Of the premises ana
Gen. adjustment of the rental at nte .
outs moi exceeding ten Q0) years ai.e'
ected expiration Of the nrst tweusS
I an period. In the event ina. liz
I the board and the lessee cannot agt IT,,
and the readjustment ana reappla nh;.
rs Of thsy each shall appoint an arpli
elton, who shall have the powers OF ann
n to cnmnounders to whom the matter
New Ss referred for decision, and In ca
after, Sisaereement they shall appoint ar
levy Mira and decision of any two shss
eding binding upon the parties. Salu
.xable may also construct warehouses,
d and ,,atora and other buildings ant
. The .rovamsnta upon the said canal
Iereby ~ ravenues from the navigation
and sho,i he kent separate from the
, .sys- avenues OF the Port. Such cana
triple anues shall be deemed 10 II
epart- rentals of all lends leased up0
ase in canal. lock charges and charge
ployed Messages. through the canal.
Q used Hoard shall construct warehouses
lsively vstors and other buildings or iml
ccord- tesnts for public purposes on
said iandg the rental value OF the Sue
n time ~ ANAL be fixed by appraiser
na,nted by said Board and the r.
d, ETC., sron, auch warehouses, elevator
united other buildings or improvements
of the ha charged with the payment 9
q with rental value into the canal iund
ion, to canal fund shall be applied hrst
,ngres. onarating expenses OF the canal q
'ember, ,naintenance thereof, and therea
4 upon navment OF the principal ana II
TO the Of the canal bonds, ana IN .ae /,
Of new ton in the manner proviuea
not ex- ordinance Of the payments anu
police buttons by the City OF seW
amend through the Belt Railroad COM
Ing the and by the Board Of Levee =,
special aionars of the Orleans Levee I
its hre ~ warehouses, elevators ana
each buildings or improvements o.
ided In structed or acquired by SAID