The Era-leader. [volume] (Franklinton, La.) 1910-current, 1920-10-14
ConoroosIonaI election TO be held on

dav in ..ov,n,hur. 1920. to-wit:
The Beard or Commissioners OF nc
Port OF >c.. Orleans Shall, except 'a
oth.rvis;. h"tt,i. .ha',C"G H'il &h''h" ~
have ana ,%e.c.S, al powers EoM; ,U'
farred uDnl, thrn hy tonstitu''o',n"d
Amendment Additional po"e' - of
jurisdiction may be coii ,rd s nv nave !
fun power and authority to cons port |
aytend and improve works lor ~
,urnoscs within the limits OF lilr i .. !
including wharvcs, docks, "a',l' t'r,ls
Grain elevators. locks. Sips '".| in,'
basins and other structures ,;>u,,vs
provementS. ana may u' 'a AND turning
basins in the Mississippi l'lVei: tH
Hnnrd may without further leg, :,a
enactment borrow money any ,on'inr
notes and bonds under the ioI.o m,nv
conditions and not otherwise; j. me,
u ,,.ith H. anproval of the Governor wv
the Auditor Of the State. for us Ptn
nnrnosrs borrow on notes tor .ear
porary loans. payable within one snrnI
an amount not exceeding rive llun ana
Thousand Dollars ($50oooV) ~ rri
time outstanding, and may IN aoui ~
s slme money money in anticipation, OF tne |
~ of charges for Wharfage.
toIIarc storage service ana iii
charges which have been ao."" ~
earned but have not YET W. ~ cav
ceived. With the approval ol t.1 nnh,ic
ernnr Of his State. it may Tor pun,
c, IN, other than the payment VI
r rur expenses of the funding oi Ia
Saht.dncss incurred or to be hculIeu
80 current expenses. borro" lliotlIs
and issue bonds to the amour 1o,,ars
million Five Hundred Thousalto ~ ~, ~ a
s5o0 0O0). Said board may WIN NE tne
vSS nrovaI IF the Governor, and FOR IKE
nprnoses. borrow other and 1urtner
.wn,s and issue bonds in the manner
Soiinwinr: When the Board snail nave
asoertained and certified IN WIltlnS "
the state Auditor or the super vlso. ~
Public Accounts the amo4 pt, ~ ~ he
two fiscal wears Immediately preceding,
after deductlng therefrom the amour!
If oneratine and maintenance chargeu
ond .xpenses and all sums payable
during said year upon maturing PRIV
cipal and interest of its bonded dept,
and the State Auditor or the oupelv;issod5
of public Accounts shall nave VeIlne9
and approved said certificate. the Board
may borrow money and issue bonds 10
an amount the annual interest upon
which is not In excess Of the average
net revenues for the two hscai year,
Immediately preceding as SHOWN 9y
said certificate. The board may auu
ascal years as certified to the State
Auditor or the Supervisor OF Public
Accounts, the net income and revenues
for such years of any revenue pro-
duclng wharf dock, warehouse, c!s.
vator or other structure to E't aH'lHi:eG
by said Board by purchase, or eApFo
priation from the proceeds CT SUCH
bond issue. The net revenues and In.
come of such revenue-producinS utility
shall be determined and certified by
the Board and approved by the state
Auditor or the Supervisor OF Punhc
Accounts. said Board may also with
the approval Of the Governor borrow
money and issue bonds to refund
bonded Indebtedness heretofore incur
red or hereafter to be incurred a"f ny
| turing and becoming paEah.e #,;ntn
one year of the date Of such ryin"ding'
| All bonds issued under the foregoing
provisions. except as otherwise ex-
pressly provided. shall run not more
than fifty years from date, shall be
issued in serial form. payable IN annual
installments, commencing not more
than ten (10) years from date, the
amount payable each year for prln,,
cipal and interest to be as nearly equal
as practicable. but annual installments
Of principal may be fixed at Five Thou,
sand Dollars (s5,O0o) or the nearest
multiple thereof. lsetunding ponds 10
nual instaiiments commencing not more
than one year from date. All OF the
said bonds shall have the same e1emp'
tion from taxation, and the same priv
ilege of registration and release from
registration. and the same eligibility
for deposit with the State or Its Of
ficers or any of its political subdi.
visions or municipalities, as wal
granted by Article S21 Of the Constitu'
ton TO the bonds therein authorized
Tutors of minors and curators OF In
terdicts shall be authorized to inves
; the funds in their hands in any OF sucf
bonds. Nothing herein contained shall
affect the power OF SAID Boaro 70 lssu'
bonds for the construction Of the nav
> igation canal Under the ordinance ant
secured by the mortgage Heretofore
made and executed, and said Board II
authorized to carry into full effect sait
: ordinance and mortgage and to issu
and sell for canal purposes the, re
. maindcr of bonds thereby authorized
the contracts made with the Board o
Levee Commissioners Of the Orlean
Levee District under date Of June goth
y 1SlS, February 2Cth, 1919, Novembe
18th 1919, and the contract made witt
the city Of New Orleans under date Q
August 18th. 1918, through the Bel
Railroad Commission to carry int
said Navigation Canal are hereby ratl
fied and confirmed. Said board shall
have the power to lease fer manufac
turing, commercial and business pur
!, poses, lands acquired for said cana
: Such leases may run for q term nc
r exceeding twenty years at q fxc
4 rental without any provision for r"
!. newal, reimbursement or rcai;praisemen
n but may run for Il term not cIceedir
a ninety-nine OBJ years, provided the
shall contain clause Or Cluusrs f.
=. rvapprais;,r Or t'.e promises and q r
!. adjustment oi tho rental at interval
4 not exceeding ten (i0) years after tn
~ expiration Of the first twenty-yea
period In the event that the sal
4 Board and the lessee cannot agree upo
= the readjustment and reappraisemen
they each shall appoint an arbitrato
o. who shall have the powers of amcabl
r be referred for. decision, and in case {
" disagreement they shall appoint an ur
= pire and decision Of any two shall b
"a binding upon the parties. Said Boar
a may also construct warehouses, ell,
"a vators, and other buildings and in
~ provements upon the said canal, b,
d the revenues from the navigation cam
I, shall be kept separate from the otht
Ia revenues Of the Port. Such canal re,
I. enues shall be deemed to inclut
10 rentals Of all lands leased upon Il
ID passages, through tho canal. If tt
~ Board shall construct warehouses, ell
4. vators and other buildings or imprev,
ia msnts for public purposes on can
A lands, the rental value of the site thet
~ of shall be fixed by appraisers al
e. pointed by said Board ard the focgip
al from such warehouses, elevators ar
ne other buildings OF impret ements sha
tn be charged with the payment Of 81,
~Ia.. s..k- R..