The St. Charles herald. [volume] (Hahnville, La.) 1873-1993, 1920-09-18


nue. producing wharf dock warehouse
elevator er olhe,. structure 10 be acquir-
,a by sand Hourd by purchase or expro-
,,lss3t5gr. from ttl. proceeds OF such bono
ssur. The net revenues ana income OF
such revenue-IroGdcing utility shall be
determined and certified by the Board
ASA auproy I'd Is the state Auditor or the
SltuelN isor of Public Accounts Said
Board MAY also With the approval of the
tilyell.ol. borrow rloncy ana issue bonds
to refund bonded indebtedness heretofore
.ll..ff-rod or hereafter to be incurred and
uetttnin2 ana becoming payable within
one ycar of the Date Of such rcfunding
All bonds sslr,.l under the foregoing
,,rnyisians. pxrcpt as otherwise expressly
provided. shall nun not more than fifty
yaars from date. shall be- issued in serial
form rayablc ia annual fnstallments.
commencing not more than ten go years
from date the amount PAYABLE each
year. for nrincipal ana interest to be as
nearly equal rs practicable. but annual
installmcHts of pnacipal may be fixed at
Five Thousand Dollars 'F"'ooo) or the
nearest multiple thereof. Reminding bonds
l'''.''''->
nual iustallments commencing not more
than one year from date All OF the sara
bonds shall nave the same exemption
from taxation, AMI me same privilege OF
registration ana release from regis
tr3tion ana IN" same eHGibli'N i"i
deposit with the state or us "Hlcefs OF
any OF its p"'ltl 81 SUBDIVISIONS or mum
cIpahues' as was granite" ny Ar'''le 81
of the Constitution 10 me hoiids u'tle'i'
authorized. iut7 : "l minors ana cui'
tors OF lhttf"l'tS S''''i ~ author ECU ~
invest me i''h'S ~ 'i't'' minus III ''iS VI
Such bonus N@'d!HS H''t'ii ,o'l'".i''
Sh3H 'lli'@i 'h' i'"ci u S''' "'''i" ~
ISGHe bonus Tor me constr 'io'' VI III.
Navigation cdh'u usl"ei ny - '',''
secure" hN tlo mo- 'E''9e 'tl e'oi"'> i'''''
ana eAecdl""' 'H' 9,''i i'o'' -
- - S3iiS = 80
Nance 'a'" 'hofi2.E" ana 70 'Ssug "'',
sell iof '5ii"l pun l"'Se' 'l'e VI
bonus 'ht'ehE <''''"i 'Aeu or" '''i' ~
dlnanee anu mortgage anu me contracts
made with the l't"rd OF LeVee commas
s;oners Of the ptlf"ns Levee District un-
der date OF June -"tE, l9lN' February Zoth'
1919, November 9Th, 1919, and the con-
tract made with me Guy OF New ofle-
ans under date OF August ibth' 1918
through the Bel railroad commission
10 carry into effect Net no. OF 1913 III
relation to said Navigation tanal are
hereby ratified and confirmed. Sald Board
shall have the power To lease for manu-
featuring. commercial and business pur-
poses, lands acqt'i' ed for SAID canal Such
leases may rum tor term not exceeding
twenty years at fixed rental without
any provision Tor renewal, readJustment
rr rcappraiSemen,, but may run for
term not eXceedin, ninety nine 900 years.
provided they sA&l contain clause OF
clauses fer rcappI@isal of the premises
and reimbursement Of the rental ~ Ia
telvals not exceeding ten (lA) FEARS after
the expiration Of the first twenty Nen
period. In the eNrm. that the said Board
and the lessee cannot agree upon the re-
adjustment and reappraiSement. they each
shan appoint an Arbitrator who shall have
the powers OF amicthle compounders to
whom the matter shall be referred fol
decision. and in case of disagreement
they shall appoint an umpire and de-
cision of any two shall be binding upon
the parties Said Board may also con,
struct warehouse elevators, and other
buildings ana improvements upon the said
canal. but the revenues from the navga-
ton canal shall be kept separate from the
other revenues ot the Port. Such canal
revenues shah re deemed to include
rentals of all lands leased upon the canal
lock charges, anu charges for passages
through the canal. If the Board shall
construct warehouses. elevators and
other buildings or improvements for pub
on cahaI lands, the rental val
ne of the site thereof shall he fixed by ap-
praisars appointed by said Board and the
RECIPES from SUI warehouses. elevators