The Era-leader. [volume] (Franklinton, La.) 1910-current, 1920-09-09
! congreasional election to be held on

the first Tuesday after the first Moh'
day in November. 1920 to-w't:
The Board of Commissioners o. the
Port of New Orleans shall except as
otherwis. nprc}n hanged and amrhotd'
have and exercise all powers now con-
ferred upon them h. Const'tutloha,,
Amendment. Additional power any
jurisdiction may he con erred ~ ~ "
The LEGISLATURE. Said Board shall nave
mn mower and authority to construct
extend and improve works for foI'
purposes within the limits OF the Iort'
including wharvcs. docks, warehouses;
grain elevators. locks. Slips !at I n a.,
basins and other structures an" ',. !
provements. and may dredE1 SnipM;"S
channels. slips. basins any caS1
basins in the Mississippi KlVeI: Co.
Board may without further ltEiS'aurn ,
enactment borrow money ana ls?uc
notes and bonds under the 1910" ing
conditions and not otherWist' mn ND
with the approval OF the Cow. ~, ,,,,iic
the Auditor Of the state, loi t tor pt Yam.
purposes. borrow on NOTES lor t.
p por loans. payable within one yr"li;
an amount not exceeding rive HUN, w
Thousand Dollars ($J00,000) at any one
time outstanding. and may IN auu f no
borrow money in anticipation % fona
collection of charges lor m'N other
cIarses which have been actuaily
chArss' wv have not yet been re-
csjved With the approval OF tne mi
ernor of this State II may Us n,ent of
nuynoscs other than the pa ; Of in
| current expenses OF the lu'u'n ;S,,currrd
dshtedness incurred or to be lhculr ,ov
a o eurrsnt expenses borrow mon c;
IA issue bonds to the amount o. &c
Gt,i,nn rive Hundred Thousand D ,I, a.
| ~ son oool, Said board may, WIN ~; ~
.nnroval of the Governor an9 i turther
purposes, borrow other a ,ha winner
s soui1nri n,,u When the Board shall have We
.vi ne.t ,i innna nnd certified In writing "
20. sat Auditor or the supervisor VI
pn,,h1;c Accounts the amounts OF reN
awe and income Of the fort ioi Az; tr-
two Ascal years Immediately preccu,nst,
after deductinE thcretrom tne c i
y. Va ~ "rnenses. and all sums payao'e
dnr;nr said year upon maturing plin-
| o;n.i and interest Of its bonded ueDt
end the state Auditor or the supervisor
~ Public Accounts shall nave Ve,lils9
and approved said certificate, the l1oalu
may borrow money and lSsup no"'n -
an amount the annual interest upon
al alt a 10 not IN excess Of the average
nat revenues for the two fiscal years
Immediately preceding as shown ny
aoid certificate, The Board may aod
90 such net revenues Of the precedlng
fiscal years as certified to tne oia &c
Auditor or the Supervisor OF Fuplle
Accounts, the net income ana resenu ro'
Tor such years of any revenue pro-
dmcinr wharf. dock. warehouse cue,
vator or other structure to he ACQUIRED
hv said Board by purchase or eSpro.
n-,ation from the proceeds OF suco
hond issue, The net revenues ana M
come of such revenue-producingu .lltt!
shall be determined and certlheG ps
the Board and approved oS N eie r si|i'
Accounts. said Board may also viii
~ approyal of the Governor borro"
money and issue bonds to refun'
honded Indebtedness heretofore incur
red or hereafter to be incurred ana nj.
turing and becoming pagan" "I!.,..
one year of the date Of such r"Ianulnl,
All bonds issued under the ioL.sot nr
4 provisions, except as otherwise e&
| nressly provided, shall run not NOR
5 than ATTY years from date, shall b
t issued in serial form, payable IN annua
D installments commencing NOT NOR
e than ten (io) years from date TN
amount payable each year LOT pr,n
:, cipal and interest to be as nearly eaut
e as practicable, but annual ln E;ra Thn,,
|. sand Dollars is5,OO0l or the neares
d multipie thereof. Refunding bonds Is
d sued hereunder shall be payable IN al
s NAL installments commencing not MOI 40.
. than one year from date All Oh vi
= said bonds shall have the same eAemi !
> ton from taxation, and the SANE W. ~,
" iiere of registration and release l i,I.
Registration, and the same eligioill'
d, Tor deposit with the State or It's Q
20 H a. or any of its political subd
d wts,ons or municipalities, as ";
J. eranted BY Article Ss1 Of the Constlt'
Of ton to the bonds therein auIhot Do :,
le Tutors of minors and culasots ~ I,,,n
8: terdicts shall be authorized to lnve
!. ~. funds in their hands in any OF SUI
I'd bonds. Nothing herein contained sns
W oH T.ef the bower of said Board to iss'
4. SnnSs for the construction OF the ma
d. ration canal Under the ordinance al
c. secured by the mortgage he Ie.
made and executed, ana sac 1oa'u u,
a. ordinance and mortgage and to iss
and sell for canal purposes the, +
mainder Of bonds thereby authorize
of and said ordinance and mortgage a.
Ne contracts made with the Boaru
L,eyee Commissioners OF the Orlea
Levee District under date OF June ~
1%th, 1919, and the contract made WI
the city OF New Orleans Under date
Nryst 18th, 1918. through the 3
Railroad Commission to carry II
effect Act No. Of 1918 In relation
said Navigation Canal are hereby "a
fed and confirmed. Said Board sn
49, have the power to lease for manal'
IN turing, commercial and business p
ma, noses. lands acquired for said car
70 Such leases may run for a term
eA- exceeding twenty years at o n!
iot rental without any provislon Tor
OF tewal, REIMBURSEMENT or reappraiseme
ms hut may run for term not exceed
nen ninety=nine (ps) years, provided Il
nee n, shall contain q clause Or clauses
ely reappfaisal of the premises and
. en- adjustment of the rental at interV
ted NJ. 49, rf The frst twenty.y
an nerio1. In the event that the q
inc Board and the lessee cannot agree Vi
ana the reimbursement and reaptraisem'
OIL they each shall appoint in afbitra
ION who shall have the powers OF amcs
!. 10 comuotnders TO whom the matter 81
s'ew he referred for decision, and in case
yer yer disagreement they shall appoint an &,
,,eevy pire and decision of any two shall
1i he binding upon the parties. SAID 80
a aha vators, and other, buildings and
the proyements upon the said canal,
coy the revenues from the navigation ca
ant. ana shall be kept separate from the 81
sys- revenues of the Port Stch canal
'lpte enues shall be deemed to incl
aFL. rentals Of all lands leased upon
IN ~ canal, lock charges, and charges
oyed passages, through the canal. II
u '..1,, Board shall construct warehouses,
ord, vators and othsr buildings or impr'
0sdai;d ments for public PURPOSES On 81
salu lands, the fental value Of the site tn
uihe OF shall be fixed by APPRAISERS
o.o pointed by said Beard AMI the rsrc
, w. from such warehouses;, elevators
~ bther buildings or Improvements,