The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1920-10-30

> Congressional election to be held OF
/. the first Tuesday after the first Mon.
l Gay IN November, 1920, to-wit:
, The Board Of Commissioners of the
} Port OF New Orleans shall, except as
otherwise herein changed and amended
nave and exercise all powers now con-
terred upon them by constitutional
Amenoment. Additional power and
; Jurisdiction may be conferred by Act OF
the Legislature. Said Board shall have
run power and authority to construct
Extend and improve works for Port
purposes within the limits of the Port,
including wharyes, docks, warehouses
grain elevators. locks, slips, IateraIs.
basins and other structures and i'm
| provements. and may dredge shipwavs
channels, slips basins and turning
Dasins In the Mississippi River. Said
board may without further legisla tive
e enac.ment borrow money and Issue
conditions and not otherwise: 1t NAV
with the approval of the Governor and
me rne Auditor OF the State. for it's public
porary loans, payable within one wear.
an amount not exceeding Five Hundred
| Thousand Dollars (s500, 00O) at any one
time outstanding, and may in addition,
poTrow money in anticipation of the
couection of charges for wharfage,
foliage, storage service and other
charges which have been actually
earned but have not yet been re-
ceived. With the approval Of the Gov
ernor of this State, it may for public
purposes other than the payment of
current expenses of the funding of in
deptedness incurred or to be incurred
Tor current expenses. borrow money
ana issue bonds to the amount of six
M MI Five Hundred Thousand Dollars
lso,oVO,O0O). Said board may, with the
approval of the Governor. and for like
purposes, borrow other and further
sums and issue bonds in the manner |
toiiowing: When the Board shall have |
al IT,,
the State Auditor or the Supervisor of |
Public Accounts the amounts of rev
enue and income of the Port for the |
two fiscal years Immediately preceding. |
after deducting therefrom the amount
or operating and maintenance charged
ana expenses. and all sums payable
curing said year upon maturing prin-
cipal 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 interest upon
which Is not in excess of the average
net revenues for the two fiscal years
lmmedlately preceding as shown by
90 such net revenues of the preceding
fiscal 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-
ducing wharf, dock. warehouse. efe-
vator or other structure to be acquired s
oy saa 1 tram x purchase or expro
bond issue. The net revenues and in 7
'Qme OF such revenue-producing utility
mai! be determined and certified by
and boara o. ana 1S. Approved by the State
Accounts. SAid Board may also with
he approval Of the Governor borrow
money ana issue bonds to refund
cd or hereafter to be incurred and ma
arlns and becoming payable within
ne year OF the date OF such refunding.
rovisions. except as otherwise exe F
ressly provided. shall run not more
han nifty years from date. shall be
ssued In serial form. payable in annual
han ten do) years from date. the
mount payable each year for prin- G
ipai and interest to be as nearly equal ia
Principal may be fixed at Five Thou A
and Dollars ($5,000) or the nearest g
luitfpfe thereof. Refunding bonds is a,
led hereunder shall be payable in an a.
ian one year from date All of the Il
lid bonds shall have the same exemp- bt
on from taxation. and the same priv OF
and the same eligibility
n deposit with the State or its of FIR
GERS or any of its political subdi- tn
. sions or municipalities as was he
ON to the bonds therein authorized. te
ltors of minors and curators Of in 81
rdicts shall be authorized to invest mi
,nds. Nothing herein contained shall
rect the power of said Board to issue m,
NOS for the construction of the nav ua
alton canal under the ordinance and
cured by the mortgage heretofore Wi
AGE and\ executed, and said Board is | is
tnorized to carry into full effect said m,
efnan9e and mortgage and to issue ga
ainder of bonds thereby authorized. at
d said ordinance and mortgage and in
contracts made with the Board of re.
wee Commissioners of the Orleans ye
wee District under date of June 29th, sic
IL. February 26th, 1919, November tn:
IN, i9is, and the contract made with or,
Y Eaty S Of New yo Orleans under date Of Lo
ilroad Commission to carry into in
eet Act No. Of 1918 in relation to pri
d Navigation Canal are hereby rati- sio
and confirmed. Said Board shall to
ing, commercial and business pur- of
'es, lands acquired for said canal. ria
IN leases may run for term not Jar
tal without any provision for re- tIa
val, read5ustment or reappraisement. he
may run Tor term not exceeding his
ii conasin ss) years provided they wild
ppraisai OF the premises and a re- sid
ustment Of the rental at intervals vea
!, exceeding ten do) years after the and
. etoh VI th6 IwentY-Year | ella,
100 In the event that the said ser
Ird and the lessee cannot agree upon in
readjustment and reappraisement. IN
, each shall appoint an arbitrator her
shall have the powers of amicable Sta,
lpounders to whom the matter shall 70
referred for decision. and in case of nro
lgreement they shall appoint an UNI mar
and decision Of any two shall be :
ling upon the parties Said Board fro,
also construct warehouses, eIe- emit
,rs, and other buildings and inn a.
vements upon the said canal. but ate
revenues from the navigation canal fhs,
u be kept separate from the other TO ,
snues of the Port Such canal rev the
es shall be deemed to include Art,
.ais of all lands leased upon the for
II, lock charges, and charges for he
'ages, through the canal If the thre
rd shall construct warehouses. eIe- viii,
RS and other buildings or Improve able
is for public purposes on canal said
9, the rental value of the site there fha
shall be fixed by appraisers an mems
Sa.u poaro ana the receipts cruz
r buildings or improvements shall fhe
81 So, w.n ne payment OF such pria
q utoc iheo tn0 canal Iund. The theil