The St. Charles herald. [volume] (Hahnville, La.) 1873-1993, 1920-09-04

mo nrodi1cjnp wharf dock, war
,le,,,tor -, other structure to be acaoi'
ed by said Board by purchase hond
priation from the proceeds VI o,,. Of
NV, at ,.venues and income VI
,.ao,,a-nrodncing utility shali
,'t;e3 and certified by the hoai"
and pproyed by the state Auu Said
- 49, - rnb,ic Accounts. oa"
Tnard may also Nth the app bonds
Governor borrow money anu .ofora
RI refund bonded Indebtedness and
incurred or hereafter to De " ,itbin
maturing and becoming pay .,dipp
one wear OF the date OF su," .oaoine
an bonds issrIel under the ..,,,
..,,a,.r,;ons axcept as otherwise cap go.
crowded. shall run not more . Mo,
'..r. from, date shall be issueo ~ 49,.
-, nayahIe in annual ihs'a.a
,,,,,ancinp not more than ten Wv 49,,
., do+a the amount payap'e
,.a.r for principel and interest," ~ 80,
,, coma, as practicable, pu'
;nstal,ments of principal may NC ,ho
,,;. Thousand I.ollars S5,ooo) VI
,aarest multiple thereof. Refuhu,"e
;sc,ad hereunder shall be payapie =.
40, insta1Iments commencing ho'
-, ~, ,.a.,. from, date All OF 'he e'
IN
t,,, sh,u have the same exeii'p''o''
s .x,t;on and the same privilege VI
,istration and release from
.etion ana the same eligioiits '''
,;+ with tho state or its oHcers VI
o,,. Of its nolitioal subdivisions OF nun,
:a,it;as &c was granted by Articie az
80 .ha Constitution to the bonds thele'"
,+ho,i,ad Tntos of minors ana cur"
oh
;,,,.ast. rho funds in their hands in any VI
a,,at ,onds Nothing herein contalheo
cbau affect the power OF said oo'."
t,. for the construction OF the
n,,.iyatiou canal under the ordinance anu
-, ~. the mortgage heretofore made
a,d exacuted and said Board IS au'noi
=. -. inn, full effect said ordl-
,,nce and mortgage and 10 issue an"
sell for canal purposes the
bonds thereby authorized. and salo Or
dinance and mortgage anu inc
made with the Board Of Levee coh''ii's-
e;nars of the Orleans Levee Dlstrlct VII
a. aot. of lime 29th 1918. February zoth
1o,a November 18th 1919 and the con-
tract made with the City of New orie-
ans under date Ut August loth' 1910
tbrougb the Bell Railroad Commission
70 carry into effect Act No. OF 1918 IN
ra,.t;on tn said Navigation Canal are
to,ah,- ratified and confirmed Said Board
shau have the power to lease for manu-
featuring commercial and business pur.
.aS lands acn,,j, ef for said canal. Such
: leases may run tor term not exceeding
t,.ntv wears at fixed rental without
any nrovision for renewal. readjustment
or reappraisement. but may run lor
term not exceeding ninety nine tsS) years
provided they shall contain a clause OF
clauses for reapprsisal OF the premises
and readjustmert of the rental at IN
tervals not exceeding ten 0O years a'ter
the expiration of the first twenty veal
q period In the even. that the said Board
u and the lessee cannot agree upon the re-
. adjustment and REIMBURSEMENT, they eaes'
shall appoint an arbitrator who shalt have
the powers of amicable compOunders TO
whom the matter shall be referred foi
decision and in case of disagreement
they shall appoint an umpire and de-
cision of any two shall be binding upon
: the parties. Said Board may also con-
: struct warehouses; elevators, and other
n buildings and Improvements upon the said
d canal. but the revenues from the naviEa,
l. other revenues OF the Port, Such canal
: revenues shall be deemed to include
; rentals of all lands leased upon the canal,
lock charges, and charges for passages
It through the canal II the Board shall
II construct warehouses, elevators and
: other buildings or improvements for pub
Il lie purposes on caraI lands, the rental val
: ue of the site thereof shall be fixed by APP
a,,1
: receip.s from SUI warehouses; elevators
n and other buildings or improvements shall
: be charged with the payment of such rent'
: al value into the canal fund. The canal
s. fund shall be applied first in the operating
e expenses of the canal and maintenance
u thereof, and thereafter In payment OF the
u principal and interest of the canal bonds,
u and in the reduction in~the manner pro-
e vided in said ordir ance Of the payments
e and contributions by the City of New Or
leans through the Felt Railroad Commits
e sion and by the BOARD Of Levee Commits
e soners of the Orleans Levee District II
warehouses, elevators and other buildings
Z or improvements be constructed or ac'
T. CURED by said Board upon canal lands py
;, me use of moneys other than the proceeu
OF the said canal mortgage, the recelpu
> from such warehouses; elevators ana o'h
II er buildings or improvements after "a.
IL payment OF the rental value to the caiN
lund' snail be deemed general revenue
Oh 'he Port The Interest on all bones
C. sued hereunder shall be paid semi-%
: nuaily by the Treasurer of the state"
LOUISIANA at his office, and at any Gus.
: place or places within or without %.
e state designated in the bonds ""
: board shall place ON dennsit with ne