The herald., 1920-06-24
Section V.

ferry systems under the provisions OF
this Act.
Section V.
Be ii further enacted etc. That the
said Board of Ferry Commissioners
shall have power and it shall be their
duty to establish tariff of charges
for the transportation of pedestrians
and vehicles upon said ferries op.
Grated under the provisions of this
Act. which tariff shall not exceed the
cost of maintenance and operation
plus the amount necessary for the re
tirement of the bonds. the issuance of
which is authorized under the pro-
visions of this Act
They shall provide in the operation
of said ferry system. for a sinking
fund of not less than two C2) per
cent nor more than five 90 per cent
of the gross revenues derived from
the operation of the various ferry
systems authorized by this Act. which
sinking fund shall be dedicated TO the
payment and retirement of said bonds
and the interest thereon as the same
become due and payable. and to the
payment for such equipment ard re-
pairs as may be necessary to the prOp-
erty administered by said Board and
should the revenue or income derived
from the operation of said ferries re
suit in the accumulation of a greater
amount than is sufficient for the re.
tirement of said bonds and the main
tenance Of said ferry systems as here
in provided. charges for transporta-
ton shall be reduced to conform to
the necessary expenditures.
Section VI.
Be ii further enacted etc. That
said Board of Ferry Commissioners
shall elect from among its members
President. a Vice President and a
Treasurer who shall serve without
compensation. They shall be author
lied to employ a Secretary who may
or may not be a member of said
Board of Ferry Commissioners. AMI
such other clerical, mechanical ana
general help as may be necessary and
proper in their Judgment. and to fix
the compensation thereof
Section VII
BE it further enacted etc. That it
shall be the duty of said Board of
Ferry Commissioners to examine and
investigate all questions relating to
the operation of said ferry system
provided in this Act and annually
make a printed itemiZed report to
the Governor of the State of Louisiana
of all receipts and disbursements in
detail. of all funds coming into their
hands under the provisions of this Act
and on the general management of
the business of said Board.
Section VIII.
Be it further enacted etc That said
Board of Ferry Commissioners shall
establish and maintain its office for
the transaction of business. in the
City. of New Orleans, where said
Board of Ferry Commissioners shall
meet in regular session at least twice
month. They shall also meet in
special session as often as the Presi-
dent Of the Board shall convene them
or on the request of three CD mem
bers of said Board. three co mem
bers of which shall constitute a
quorum fer the transaction of bust
ness, and said Board shall have the
power and authority to fix the com
pensation for the attendance OF said
remb ers at said Board meetings
The said Board shall prescribe rules
to govern its meetings and shall keep
q suitable office convenient - the
business center of the City of New
Orleans. employ the necessary cleri
cal force and also employ lega! serv-
ice or engage counsel. as they may