The Colfax chronicle., 1920-09-04

Congressional election 70 be held on
The frst Tuesday after the nrst Mon
Gay In November, 1890, to-wit:
The Board Of Commissioners Of the
Port Of New Orleans shall, except az
SSsnsrwlss "a herein snangsd And anne nmsndsa
fsrred upon them by Constitutional
Amendment. Additional power and
9urtsdictton may be conferred by Act of
the Legislature. Said Board shall have
extend and improve works for Port
purposes within the limits of the Port.
including wharves. docks. warehouses,
grain elevators. locks. slips. laterals,
provements, and may dredge shipways.
channels, slips, basins and turning
basins in the Mississippi River Said
Board may without further legislative
notes and bonds under the following
conditions and not otherwise: 1t may.
with the approval Of the Governor and
the Auditor of the State. for its public
porsry loans. payable within one year.
an amount not exceeding Five Hundred
Thousand Dollars (s50o.0 .0oo) at any one
time outstanding. and may in addition.
collection Of charges for wharfage,
foliage. storage service and other
charges which have been actually
earned but have not yet besn re-
srnor Of this State. It may for public
purposes other than the payment of
current expenses Of the funding of In
debtedness. incurred or to be incurred
and issue bonds to the amount OF Six
Million Five Hundred Thousand Dollars
(e6.Soe. .000). Said board may. with the
approval OF tho Governor. an9 for ike
suns and issue bonds in the manner
following: When the Board shall have
asoertained and certified In writing to
the St9te Auditor or the supervisor OF
aSDs ana to hs pos Tor
two fiscal years Immediately preceding.
&xter deducting therefrom the amount
Of operating and maintenance charged
and expenses: and all ,s sums ,ns,, payaGae rrsa
Opal 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
An amount the annual tnterest upon
which 10 not In excess OF the everage
net revenues for the two fiscal years
i,nwedistsly preosSinsp pos,d ss snown %sy a6y *
70 suohl net revenues Of the preceding
6scal years as certified to tho State
Auditor or the Supervisor OF Public
Accounts. the net income and. revenues
lucin6 wharf. dock. warehouse. efe-
vator or other structure to be acquired
BY said Board by purchase or expro-
priatiQn from the proceeds OF such
como Of such revenue producing u tility
shall be determined and certified by
the Board and approved by the state
Auditor or the Supsrvisor OF Public
She approval OF the Governor borrow
money and issue bonds to refund
bonded indebtedness heretofore incur
red or hereafter to be incurred and ma
one y year Of the date Of such refundins.
All bonds issued under the foregoing
provisions. except ~ otherwise en-
presslys provided, shall run not more
issued In serial form. payable in annual
!nstallments commencins not mors OF
amount payable each year for prin-
oipal and interest to be e; nearly ,s:a esual
ot principal may be 6xed at Five Thou
sand Dollars (tS.0o0l or the nearest
multiple thereof. Refunding bonds Is
sued hereunder shall be payable IN an
than one year from date. All OF the
Rid bonds shall have the same exemp-
tion from taxation. and the same priv
sss Of ira sns ana aams
for deposit with the State or Its Of
hcers or any of its political subdi-
visions or municipalities. an was
tion to TIE bonds therein authorized
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
bonds for the construction Of the nav
igation canal under the ordinance and
secured by the mortgage heretofore
made and executed. and said Board y
ordinance and mortgage and to issue
and sell for canal purposes the re-
matnder of bonds thereby authorised
and said ordinance and mortgage and
Levee Commissioners OF the Orleans
Lsvee District under date Of June 18th
1918. February 2sth. 1919, November
18th. 1913, and the contract made with
August 18th, 1913. through the Belt
Railroad Commission 70 carry into
effect Act No. Of 1918 In relation Il
eaid Navigation Canal are hereby rati:
have the power to lease for manufac.
turing. commercial and business pur-
posess lands acquired far said canal
Such leases may run for term no!
ssSssf %thous any for rec
newal. readjustment or reappraisement
but may run for . term not exceeding
sinety-nine sO years. provided thel
Un6lt cOht6lu Cl8u00 VI Cbdu1co iOS
lfeappraisaI of the premises and a re-
adjustment OF the rental at intervals
not exceeding ten (10) years after the
expiration Of the first twenty-yea!
period. In the event that the sait
Board and the lessee cannot agree upon
the readjustment and reappraisement
! they each shall appoint an arbitrator
who shah have the powers of amicablt
Icompounders to whom the matter shall
be referred for decision. and In case OF
disagreement they shall appoint an um.
pirs and decision Of any two shall b
| binding upon the parties. Said Boart
may also construct warehouses. ele.
vators, and other buildings and sm-
pfovements. upon the said canal, bu
| the revenues from the navigation cana
shall be kept separate from the othol
revenues OF the Port. Such canal rev
rentals Of all lands leased upon tn
canal. lock charges. and charges fol
passages. through the canal. II thu
Board shall construct warehouses. ele.
vators aud other buildings or Improve.
msnts for public purposes on cana
lands, the rental value Of the site there
Of shall be fixed by appraisers ap
pointed By said Board and the receipt,
| from such warehouses. elevators ant
other buildingo or Improvements shall