The Natchitoches enterprise., 1920-10-07
Congressional election to be held on
the first Tuesday after the first Mon

!erred upon them by Constitutions
Amendment. Additional power ant
r. Jurisdiction may be conferred by Act o
the Legislature. Said Board shall have
u full power and authority to construct
purposes within the limits of the Port
. including wharves, docks. warehouses
grain elevators locks, slips, laterals
Il basins and other structures and i'm
| provements, and may dredge shipways
), channels slips: basins and turning
: basins in the Mississippi River. Said
q board may without further legislative
, notes and bonds under the following
conditions and not otherwise: 1t may,
with the approval of the Governor and
purposes. borrow on notes for tenn
, porary loans, payable within one year
, an amount not exceeding Five Hundred
Thousand Dollars (s5oo.ooo) at any one
time outstanding. and may in addi ton.
borrow money in anticipation of the
collection of charges for wharfage,
foliage. storage service and other
charges which have been actually
earned but have not yet been re-
ccived. With the approval Of the Gov
ernor OF this State it may for public
current expenses of the funding of in
debtedness incurred or to be incurred
Tor current expenses. borrow money
and ,Sl, issue bonds to the amount of Six
(s6,5oo,o0O): Said board may, with the
approval of the Governor, and for like
purposes, borrow other and further
followinE: When the Board shall have
ascertained and certified in writing to
the State Auditor or the Supervisor of
enue and income of the Port for the
| two fiscal years Immediately preceding
after deducting therefrom the amount
! OF operating and maintenance charged
| ana expenses. and all sums payable
| during said year upon maturing prin-
| cipal and interest of Its 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
| net revenues for the two fiscal years |
said certificate. The Board may add |
to such net revenues of the preceding /
Auditor or the Supervisor of Public |
Accounts, the net income and revenues
ior such years OF any revenue pro-
ducing wharf, dock. warehouse. els- i
priation from the proceeds of such
bond issue. The net revenues and in
shal! be determined and certified by
the Board and approved by the State
Auditor or the Supervisor of Public
the approval of the Governor borrow
money and issue bonds to refund
bonded indebtedness heretofore incur
red or hereafter to be incurred and ma
one year OF the date of such refundinE.
All bonds issued under the foregoing
provisions. except as otherwise ex-
than fifty years from date, shall be
issued in serial form. payable in annual
installments. commencing not more
than ten Co) years from date, the
cipal and interest to be as nearly equal
as practicable, but annual installments
OF PRINCIPAL may be axed at Five Thou
multiple thereof Refunding bonds is
sued hereunder shall be payable in an
nual installments commencing not more {
said bonds shall have the same exemp- ,
ton from taxation, and the sa ne priv
ileGe of registration and release from I
fsr deposit with the the state or ri its sol. ofy
ficers or any of its political subdi- :
visions or municipalities. as was I
granted by Article 32l Of the Constitu-
Tutors OF minors and curators of in
terdicts shall be authorized to invest
the funds in their hands in any of such
bonds. Nothing herein contained shall
AFFECT the power OF said Board to issue
bonds for the construction Of the nav
gatton canal under the ordinance and +
made and executed. and said Board is ,,
to carry into full effect said II
ordinance and mortgage and to issue :,
and nnds sell f. for ,oc1 canal purposes the. re
md said ordinance and mortgage and Il
he contracts made with the Board Of +,
Aevee Commissioners of the Orleans II
.eXee District under date of June 2sth.
91s, February 26th. 1919. November .
4th, 1919, and the contract made with
ne sat City ct Ssth New 0Eleans under date Of
saeaa ss as thrs"se to earry ns nta
fleet Act No, OF 1a1s in relation to
aid Navigation Canal are horeby rati-
led and confirmed. Said Board shall
uring. commercial and business pur-
oses, lands acquired for said canal.
uch leases may run for term not
entai eeteqpS Wtbout .wfnty snx years st liked
ewal. readinstmSnt or reappraisement,
as oaa,sn s' Xsss: SToydsd my
Of the promises and a re.
dtustment Of the rental at Intervals
OF 9t, 81 e1H;esding &C. ten Co2 years after the
oaFd and tho lessee cannot agree upon
re readtustment and rcappraisement II
,ey each shall appoint an arbitrator
'mpounders to whom the matter shall
referred for decision. and in case Of
sagreement they shall appoint an um-
re and decision of any two shall be
ay also construct warehouses, ele-
ators, and other buildings and i'm 90
'ovements upon the said canal. but
lall be kept separate from the other =
venues of the Port Such canal rev. IT
'ues shall be. deemed to Include
ntais Of all lands leased upon tEA
lssages, through the ea,,al II he
BARD shall CONSTRUCT Eafahouses' eie.
tor. tor. and en-; e;hs{f; ssllaines or improvs: we;
iits vslss sa9ass e ;ss .its Ss ,ssrs. ssrs
shan be fixed by appraisers ap-
inted BY said Board and the receipts
o ON sueh warehouses. elevators and
charged with the payment of such II
ntai value into the canal fund. The II
nal fund shall be applied first in the
Grating expenses Of the canal and tha
aintenance thereof, and thereaf,ss IN
yment Of the principa, ana IN .erost
N ene in canal ma nond?s aaa AHr Vie redue- II
t.!sft, by the City Of New orleans -
sSush Me Belt Railroad Commission
9 ny the Board of Levee Commis- -
;, warehouses: elevators and other
ildings or Improvement. be con-
,uctea on csn.1 or T., ACQUIRED by said Board .
er ens sa . iSs p4oeesas ny s.s use Of 0
nal mortgage the receipts from such
rehouses. elevators and other build
,s or improvements after the pay
n, mt OF the rental value to the canal
u. 4haN be deemed general reys-
e4 Of the Port The interest on All
nds issued hereunder shall bo paid
ni-annuAllX by the Treasurer of the
Ite et LOUISIANA At his office. and
any other place Or places within or
lhout the State designated in the
lds. said Board shall place ON AZ.
y. ut with the Treasurer Of the State
the credit OF an account or accounts
be known as Interest Accounts in
n manner ~ may be provided in the
ceeaiaes to Issue the bonds. an
cunt equal to the interest on ali
IDS that may have been de!iverei
q Treasurer is hereby empowered
directed. and it il made his duty'
pay or provide for the payment al