The St. Charles herald. [volume] (Hahnville, La.) 1873-1993, 1920-10-16
AC! No. 1913.

House Bill No. zoe BY Mr.. Perez.
JOINT RESOLUTION
Proposing an amendment to the Consti-
tuition of the State of Louisiana reia-
tive to the Poard of Commissioners
of the Port OF New Orleans.
Section /. Be = resolved by the Cen
eral Assembly OF the State of Louisiana.
two thirds of all members elected to each
house concurring. That the following
amendment to the Constitution of the
State OF Louisiana be submitted to the
electors of the State at the next Con-
gressional election to be held on the first
Tuesday after the first Monday in No
vember, 1920. to-wit:
The Board of Commissioners of the
Port of New Orleans SHALL except as
otherwise herein changed and amended,
have and exercise all powers now confer
red upon them by Constitutional Amend
ment. Additional power and jurisdiction
may be conferred BY Act of the Legisia-
ture. Said BoarI shall have full pow
err and authority to construct. extend
and improve works for Port purposes
within the limits Of the Port, including
wharves, docks, warehouses. grain ele-
vators. locks. slips, iaterais, basins. and
other structures and improvements, and
may dredge shipways channels, slips.
basins and turning basins In the Mssis-
spi river Said Eoard may without fur
Their legislative enactment borrow money
and issue notes and bonds under the fol-
lowing conditions and not otherwise: 1t
may. with the approval of the Governor
and the Auditor OF the State. for its pub
lie purposes, borrow on notes for tempo
rary loans. payable within one year, an
amount not exceeding Five Hundred
Thousand Dollars ts500.000.) at any on
time outstanding, and may in addition
borrow money in anticipation of the col
lection of charges for wharfage, foliage,
storage service and other charges which
rave been actually earned but have not
vet been receiyed With the approval of
the Governor of the state, it may for pub
lie purposes Other than the payment of
current expenses or the funding of in
debtedness incurred or to be incurred for
current expenses, borrow money and is
sue bonds to the amount of Six Million
Five Hundred thousand Dollar $50. 50Q-
o00). Said Board may. with the approx
all OF the Governor. and for like purposes.
borrow other and further sums and issue
bonds in the manner following: When
the Board shall have ascertained and
certified in writin,, to the State Auditor
or the Supervisor If Public Accounts the
amount of revenue and income of the
Port for the two fiscal years Immediately
preceding, after deducting therefrom the
amount sf operating and maintenance
charges and expenses and all sums pay
able during SAID year upon maturing
principal and interest of it's bonded debt,
and the State Auditor or the Supervisor
of Public Accounts shall have verified and
approved said certificate. the Board may
borrow money and issue bonds to an
amount the annual interest upon which
is not IN excess of the average net reve-
nues for the two fiscal years Immediately
preceding as shown by said certificate.
The Board may add to such net rave-
nues of the preceding fiscal years as Ger
titled to the State Auditor or the Super
visor of Public Accounts, the net income
and revenues for such years of any reve-