The Era-leader. [volume] (Franklinton, La.) 1910-current, 1920-09-16
Congressional election to be held on

the frs; Tuesday after the first Nom
day in November. 1920 to-Wt:
The Board OF Commissioners Of the
Port Of \e' Orleans SHALL except as
otherwise nc,eiM changed and am nh"a.
have and exercise all powers now con-
fprred upon them by COustitutionaI
Amendment. Additional power ana
Jurisdiction may be conferred " Act ol
the LEGISLATURE Said Board shall have
full power and authority to CONSTRUCT
extend and improve works 1or ioL'
PURPOSES within the limits OF the forl'
including wharveS, docks, warehouses;
grain elevators, locks. sllDS, later:''s'
nasns and other structures ana I'M
provemcnts, and may drcdEe shlp"ays'
channels slips. basins and turhnnE1
basins in the Mississippi River. Sa'u
Board may without further leeIsiatlNe
enactment borrow money ana lssue
notes and bonds under the following
conditions and not otherwise: /. may;
with the approval of the Governor aii i
the Auditor Of the State. FOR us pun,,'
purposes. borrow on notes LOT .oa,
porary loans, payable "lt Iii,, ot urnrred
an amount not exceeding FIVE hunt eu
Thousand Dollars (s50O.oOD at any one
time outstanding. and may in adam oh,
! borrow money in anticipation or the
collection of charges for wharfage,
foliage storage service ana QUIZ
charges which have beeh actu"''s
earned but have not yet pGeh
ceived With the approval of the Coy
! ernor of this State. it may TOR pup'lr
purposes other than the payment u
current expenses Of the tundlhs VI Ia
! debtedneSS incurred orsto DE lh'uI Z" .
| for current expenses, borro" '.o,, ~;
ana issue bonds to the amount OF OH
Nill,on Five Hundred Thousand Dollars
NSs'60O ,OOO) Said board may, with TN ihe
annroval of the Governor, and TOR IKE
nxrnoses, borrow other and further
surns and issue bonds in the manner
Following: When the Board shaIi nay. "
asoertained and certified IN "rltins ~ ~
Puhlic Accounts the amounts OF reS-
anme and income of the Port Tor the
Two Ascal wears Immediately preceding.
after deducting therefrom the ainouns
~ onerating and maintenance cnarseo
and expenses. and all sums payan ,,
during said year upon MAUI houd tn5 r. deht
"a the state Auditor or the supervisor
~ pmhlic Accounts shall have rerlhed
ond snnroved said certificate, the Board
nav borrow money and issue bonus W
an amount the annual interest upon
which is not In excess OF the aSerase
net revenues for the two fiscal years
Immediately preceding as shown ny
said certificate. The Board may aud
to such net revenues Of the preceding
fscal years as certified to the state
Auditor or the Supervisor OF Pubic
Accounts, the net income and revenues
for such years of any revenue PRO-
ducing wharf, dock, warehouse t!o.
yator or other structure TO be acquired
by said Board by purchase. or cXpro,'
priation from the proceeds OF sN'h
bond issue. The net revenues and III.
come of such revenue-prod ucing utility
shall be determined and certified by
the Board and approved BY the StaIe
Auditor or the Supervisor or funut
Accounts said Board may asp WIN
the approval of the Governor borrow
money and issue bonds to refund
bonded indebtedness heretofore incur
red or hereafter to be incurred nA' ny
turing and becoming payable Wit''li
one year of the date Of such reiuhding
All bonds issued under the foregoing
provisions, except as otherwise ex'
than Atty years from date, shall b.
issued in serial form, payable IN annua
installments. commencing not more
than ten lO) years from date, Thu
amount payable each year Tor prln
cipal and interest to be as nearly eQua
as practicable, but annual lnstallment'
of , principal may be fixed at Five Ihou
multiple thereof. Refundins bonds is
sued hereunder shall be payable in an
nual installments commencing not NOR
than one year from date. All of tn
said bonds shall have the same exemp
ton from taxation, and the same priv
ilegs Of registration and release e,h iron
feTs deposit with the Stat. or It's Of
, t. or any Of its political subdi
| wtsions or municipalities, as wa
i. sranted by Article S21 Of the Constitu,
ton to the bonds therein authorized
. Tutors of minors and curators OF IN
{: terdcts shall be authorized to inVes
The funds in their hands in any OF sue
! bonds. Nothing herein contained snal
' affect the power Of said Board to issu
= bonds for the construction Of the nav
. iratiot1 canal under the ordinance an
= secured by the mortgage heretofor
made and executed, and said Board !
authorized to carry into full snect sa!
=. ordinance and mortgage and to issu
and sell for canal purposes the, re
mainder Of bonds thereby authorized
( and said ordinance and mortgage an
The contracts made with the Board
Levee Commissioners of the Orlean
Levee District under date OF June ZSti
b 1918, February 2eth, 1919 Novembe
the City Of New Orleans under date 9
August 18th, 1918, through the Be
Railroad Commission to carry int
effect Act No. Of 1918 in relation
said Navigation Canal are hereby rat
fed and confirmed. Said Board sha
have the power to lease for manufat
. turing, commercial and business pul
- poses, lands acquired for said cana
~ Such leases may run for term M
~ exceeding twenty years at hXe
- rental without any provision for r.
= newal, REIMBURSEMENT or reappraisemen
~ but may run fer q term not exceedln
- ninety mine (9s) years, provided the
~ shall contain a clause or clauses II
- reappraisal Of the premises and a r.
=. adjustment of the rental at interva
"a not exceeding ten 10) years after II
~ ~ expiration of the first twenty-ye;
~, 20 period. In the event that the sa
"A Board and the lessee cannot agree upc
NJ the reimbursement and reappraisemer
" =, they each shall appoint an arMtrat'
r. r., who Shall have the powers Of amicab
W, w compounders to whom the matter sha
~ be referred for decision, and in case
-, ~ disagreement they shall appoint an IN
- pire and decision Of any two shall
Ia binding upon the parties. Said Boa
I'd may also construct warehouses, ell
he vators, and other buildings and In
Dy provements upon the said canal b
M the revenues from the navigation can
ia revenues Of the Port. Such canal re
+. enues shall be deemed to inclu
in rentals of all lands leased upon Il
Cd canal, lock charges, and charges f
ed passages, through the canal If Il
~ Board shall construct warehouses, ell
d. vators and other buildings or improv
id ments for public puf osns On can
ne lands, the rental value Of the site thct
of shall be fixed by appraisers a
"a, pointed by said Beard and Tic receip
ed from such, warehouses, elevators a.
otI |, Mt 81. - .l,,