The St. Mary banner., 1920-09-04

binding upon the parties. Said Board
may also construct warehouses, ele-
vators and other buildings and i'm
provements upon the said canal, but
the revenues from the navigation canal
shall be kept separate from the other
enues shall be deemed TO include
rentals of all lands leased upon the
canal, lock charges. and charges for
passages, through the canal If the
Board shall construct warehouses; ele-
/ vators and other buildings or improve
ments for public purposes on canal
lands, the rental value of the site there
| of shall be fixed by appraisers ap-
pointed by said Board and the receipts
from such warehouses. elevators and
! other buildings or improvements shall
| be charged with the payment of such
rental value into the canal fund. The
canal fund shall be applied first in the
operating expenses of the canal and the
maintenance thereof, and thereafter in
payment of the principal and interest
of the canal bonds and in the reduc-
tion in the manner provided in said
ordinance of the payments and contri-
| through the Belt Railroad Commission
| and by the Board of Levee Commits
| sioners of the Orleans Levee District
| If warehouses, elevators and other
buildings or Improvements be CON
| structed or acquired by said Board
upon canal lands by the use of moneys
| other than the proceeds of the said
! canal mortgage, the receipts from such
| warehouses. elevators and other build
| ings or improvements after the pay
mcnt of the rental value to the canal
nues of the Port. The interest on all
bonds issued hereunder shall be paid
| semi annually by the Treasurer of the
State of Louisiana at his office, and
at any other place or places within or
! without the State deSig gnated i'll the
bonds Said Board shall place on de
posit with the Treasurer of the State
| to the credit of an account or accounts
! tn he n
/ such manner may be provided in the
! proceedings to issue the bonds, an
amount equal to the interest on all
| bonds that may have been delivered.
/ Said Treasurer is hereby empowered
and directed and it is made his duty,
! to pay or provide for the payment of
| all interest that may become due upon
! said bonds. Said Board shall in addi-
/ tion in each year when any of said
bonds become due and payable, deposit
with the Treasurer of the State of
Louisiana. to the credit of an account
or accounts to be known as Redemption
Accounts. the amount of all bonds ma
turing or becOm' 'ng payable, and it
shall lie the duty of said Treasurer to
pay or provide for the payment of such
bonds. Such deposits shall be made
, with the State Treasurer in timely sea
son for the payment of such principal
/ and interest and not less than thirty
800 days before the date when any
, moneys become payable. 1t shall be
the duty of said Treasurer to collect
OF failure on the part of said Board to
make said deposits in amount suf
nclent to provide for the payment OF
interest due or to become due, and for
the redemption of the bonds. the said
Treasurer is hereby empowered and di-
rected, and ii is made his duty, to
collect the charges and revenues of
( the Port and to apply the same, after
providing for necessary operating ex-
penses and any prior charges, to the
payment of the principal and interest
OF the said bonds, and for that pur-
pose and for such time as may be
necessary, the said Treasurer is hereby
authorized to exercise all the powers
and duties vested in the Board of Com
mIsSionerS OF the Port of New Orleans.
The accounts of said Board as a De
partment of State shall be subject to
audit and investigation by the State
Auditor or Supervisor. of Public Ac-
counts, and the auditor shall counter
sign all bonds hereafter issued. The
Board may acquire real and personal
property subject to mortgage or other
lien and may make or execute pur-
chase money mortgages or property
acquired. Nothing herein contained
shall prejudice the right of the holder
of any bonds of the Port now outstand-
ing. or that may be issued under the
ordinance and mortgage heretofore
made and executed for canal purposes
to a segregatio of such revenues as
are applicable to his bonds under said
ordinance and mortgage or other COW
enant of his bonds. This amendment
shall not repeal any statutes hereto
fore enacted. except insofar as incon-
sistent herewith.
Section 2. Be it further resolved,
etc, That on the official ballots to be
used at said election shall be placed
the words. For the proposed amend |
ment to the Constitution giving addi- !
tional powers to the Board of Commits |
SionerS of the Port of New Orleans in |
the financing and control of the prop
erty under it's administra ton" and the |
words, Against the proposed amend |
ment to the Constitution giving addi- |
tional powers to the Board of Commits |
sioners of the Port of New Orleans in |
the financing and control of the prop
erty under its administration" and |
each elector shall indicate his vote for
or against the proposed amendment as |
provided in the general election laws
of the State.
r. r. WALKER,
Speaker of the House of Representa-
HEWITT BOUANCHAUD, |
Lieutenant Governor and President of
the Senate.
Approved: July I, 1920.
JNO. NJ. PARKER,
Governor of the State of Louisiana, !
A true copy:
JAMES J. BAILEY,
Secretary of State.
ACT NO 40.
House Bill No. 2s6-By Mr.. Schen.
JOINT RESOLUTION.
Proposing an amendment to Article 303 |
of the Constitution of the State of |
Louisiana as heretobefore amended /
relative to pensions for Confederate |
Veterans.
Section l. Be it resolved by the |
General Assembly of the State of Louis |
lana. two thirds of all the members |
elected to each House concurring. That !
Article 303 OF the Constitution of the |
state of Louisiana heretobefore |
amended be amended and re-enacted so |
as to read as follows:
Article 303. A pension not to exceed |
Thirty Dollars $4,000 per month shall |