The Natchitoches enterprise., 1920-09-23

day in November. 1920. toVit:
Tho Board Of Commissioners Of the
Port Of New Orleans shall. except as
otherwise herein changed and amended.
, have and exercise all powers now con,
Amendment. Additional power and
Jurisdiction may be conferred by Act of
the Legislat ture. Said Board shal! have
full power and authority to construct.
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 onds under the following
conditions and not otherwise: 1t may.
with the aSprova! of the Governor and
the Auditor of the State. for it's public
porary loans. payable within one year.
an amount not exceeding Five Hundred
Thousand Dollars (35oo.0oo) at any one
borrow money In anticipation of the
collection of charges for wharfage.
foliage. storage service and other
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
debtedness incurred OF to be incurred
for current expenses. borrow money
and issue. bonds to the amount of Six
Million Eve Hundred Thousand Dollars
approval Of the Governor, and for like |
purposes. borrow other and further |
sums and issue bonds in the manner |
aseertained and certified in writing to |
the state Auditor or the Supervisor of |
Public Accounts the amounts of rev.
enue and income Of the Port for the
after deducting therefrom the amount |
Of operating and maintenance charged |
and expenses. and all sums payable |
dnrin: d;n .:'d year upon maturin. prin-
and the State Auditor or the Supervisor I
of Public Accounts shall have verified |
and approved said certificate. the Board |
an amount the annual interest upon
net reyenues for the two fiscal years
m%eaatsy pFeesTSins as snown BY
to such net revenues of the preceding
fiscal years as certified to the State
Auditor eF the Supervisor Of Public
;ns net ~ sn1 ana
ducinE wharf. dock. warehouse, els-
yAtor Or other structure TO be acquired
by By. said aid Board @ * purchase or e1pro-
Bond issue. The net revenues and in
come of such hreyenue-producing utility
shall be determined and certified BY
the ,,,.s Board and nd. approved by the state
Accounts. said Board may also with
money and issue bonds TO refund
red Or hereafter to Be incurred and ma.
turing and becoming payable within
one year Of the date Of such refunding.
All bends issued under the foregoing
ry1N0 N0O~ A~t NtA yto,
pressly provided. shall run not more
than nifty years from date, shall he
issued in serial form. payable in annual
commencing not more
amount payable each year for prin-
cipal ana interest to hs aa nearly equal
as practicahie. but annual tnstallments
sas ei'1Ss2: Ss. ". So At ss svf rass
multiple thereof. Rsfunding bonds - :.
'ued Hereunder SHAH Ie payable in an
o.s rs% not NOR:
laid bonds shall have tho same exsmp- n
ion from taxation. and the same priv
legs OF resistra ton and release from
w;sS i1s X: ass stan: c4 s
'isions or municipalities. az was
:ranted by Article al Of the Constitu.
tutors Of minors and curators Of in =, |
erdicts shall be authorized to invest
he funds in their hands in any of such
'onds. Nothing herein contained shall |
'onds for the construction of ths nav
cation canal under the Ordnance and /
ecured BY the meyteAge heretofore
1ads usher1sa aDS .tS as fs .iIa ee.
rdtnance and mortgage and 70 issue
,ainder 9f bondS ,hsTebS aatSeSFi.ed. S "a II
nd saa sss :aa xA T,S,fsss ,Ss ss,d 'es
tyee Cemmisslane.s at Me Orleans
eve, ;exee District NnAsE date Of June 2sth.
siS ,ESsprasEY M xeth. lsls. November
ne tity OF New orleans under date Of
.uauat lssh. 1915: through the Relt
;1il,oad = commis:ion TO carry, Into !
meet Act Nc. OF 1913 IN relation to
ed and cenArMed, Said Board shall
ave the Hswsr 70 lease for manufac-
arlna. commercial and business pur-
uch leases may run for a term not
xceedinE twenty years At a fixed
entail without any provision for re-
ewaL readtastment or reappraisement.
iall contain = clause or clauses for
appraisal Of the premises and a re-
i!ustment Of the rental at intervals
kpiration Of the first twenty-year
eriod. In the event that the said
oArd and the lessee cannot agree upon
le reao1ustment and reappraisement,
,ey each shall appoint an arbitrator
no shall have the powers Of amicable
'mpounders to whom the matter ahall
referred for decision. and In sAse Of
sagreement they shall aERsiai an up,-
re and decision Qf kAy two shall be r
ay sl.s's sSalsrues war ".1ehou.ss, oua 'oa.o eie1
siSfA nd other buildings and i'm
'Hvements upon the said canal, but q
'e revenues from the navigation canal
lali be kept separate from the other
venues Of the Port Such canal rev.
lues shall be deemed to include r.
ntals Of all lands leased uaan the
nal. lock charges. and charges for
.ssages. M through he e~aal, If the
tors arA bthsE hSildings or improve
sEts fnf public purposes on canal
p "a tae rental value Of the site there
1hall be fixed by appraisers az.
tinted by said Board and the receipts
ON such warehouses. elevators and
her buildings or improvements shall
charged with the payment Of an..h