New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1920-10-30


day in November, 1920, to-wit:
The Board of Commissioners of the
Port of New Orleans shall except as
stherwtss herein changed and amended,
have and exercise all powers now con-
fswFed upsn them by Constitutions,
juFi ed eti on May be conferred by Act OF
the Lag isIature. Said Board shall have
fun power and authority to construct.
extend and improve works for PoGt
purposes within the limits OF the PoFL'
including wharyes. docks, warehouses
grain elevators, locks, slips, latsrals'
basins and other structures and I'M
provaments, and may dredge shlpWays'
channels, slips basins and turning
basins in the Mississippi River. Salu
Board may without further legislative
enactment borrow money and issue
notes and bonds under the following
conditions and not otherwise: It may,
with the approval OF the Governor ana
the Auditor of the state. for its puolc
purposes, borrow on notes Tor tenn
poFary loans. payable within one year;
an amount not exceeding Five Hundred
Thousand Dollars (S500,00O) at any one
time outstanding, and may in addi ION on
collection of charges for Wharfage,
foliage, storage ssrYice ana other
charges which have been actuaIly
earned but have not yet been
eYpor of this State, It may for Dubllc
PURPOSES other than the payment OF
current expenses OF the funding OF IN
dsbtsAn esa incurred or to be incurro 90
for enrrent expenses, borrow money
and iBwus bonds to the amount OF SlS
Million Tive Hundred Thousand Dollars
(ae,Iee.ose). Said board may. with the
approval of the Governor and Tor trt hsT
sums and issue bonds in the manner
following: When the Board shall save
ssesysaiss AID certified in writing 20
ths HtAts Auditor or tho Supervisor OF
Public Accounts the amounts Of rev
snus and income of the Port fsT the
two Aseal years Immediately pEecsding.
after deducung therefron the amouns
Of operating and maintenance cAargSo
aRd sxpeAssa, and all sums payable
auFtnH said year upon maturing Pfin-
oipal aad interest of its bendsd dspt'
Of Public Accounts shall have vsrlasd
ae6 approved said csvttncate, the BsAro
may serrow money and issue eoHds 70
an ssmsurt the anAusl interest epoh
which 10 not in excess of the average
ns4 rcvsxuss for the two nscal years
Immediately DrseedinG as shown ey
said esYunnats. The Board Aey add
:: sgae net r:'. s.-,,s: - the sane
AnAfaor or che supervisor Of Puehc
Aeeea1ss, the net income and revenues
fer sssA years Of aAy reveans Pre-
vster or othar structure to be acquired
~ SAID Beard hy purchase or sxpro-
priatea frsm the proceeds Of snch
kezA iesps. TIE net rsvsnuss AND In
SHALL be dsternainss and esYtlAsd by
A.Aassr or tAs SSSsrviser 81 Pskhc
Asse~aAa. RAtA Bsare may Also With
nasm0 and Issue bends 10 refund
hspAss k~assteansss Heretofore iRear-
red or h4weaftsF 10 be incurred sad ma
ss.s .:s = -: s... 81 sss
All b~mas isga 81 under the feregs4ng
pFeviMsen, except ne otherwise ak
prsssiy rroviasAs shall r,sn act snore
isssss n ssfsal serxl payable In snpral
tn@tnkaments. eexnnasmxihg not Hsore
tA.sa tsa us) years from data, ths
ARWmnt payable each year for pFth-
ss presetsaAaa, bat annual inseatHnsnAs
OF pstpaa1ei faay - 4sed at nv Tsou
ssas saers &C., or ths sssE est
m.lfRs nsresa Ass % ssnas ls-
nnaS i.aAAli@ns senpsAncinx pot ineco
thaa enc pear frsa este. An 81 TIE
sasA bsHes shssl have TIE ssa>s sxen.E-
.sss f ssss.sss En-. "a y. :.; ss:s x pr.
f:s $500 VIA Ia =. - ss ss e T. =.
neess - sAy q - HsntaoAa s~ss
$500 y Arsss. u = 8. o:.ssss-
fsssss Of ssssesv an4 e.s~esss q tn.
sssssss - p 49, ..a5.r,s. !. y .ss
hoain. Rsthsnw hsss3n sentaine6 shaH
nAess the ysvw IF sAsA Beard - kasWe
bends ser Tao ,eenstrsotioa % the nag
sssyEsN % tAA rsvtsaEs hssses6sge
mmAn amA smesweeA and SD Beard is
AztAasevsd - carry fDts fun effost sod
svAsn@sss a%d mSrtsawe and 20 issue
msinSsr Il soszs tAesssy susssrtssd
and said exda nnmee and mortEABe ard
the ssatyasss maAs with the Beard Of
Lsvss cssnfatsssensrs Of the Orleans
id psSrcsly sea, 1915. Noveinpsr
18th, 1879, aRa the eentrnet made with
ths City Of New Orleans under date Of
AsSsst 1ssA ltih through the bsat
eject Act Ne. OF 1918 IN rslstion to
aaA6 Navigation Canal are hereby rati-
n~& and eeznrMsA. Said Board shall
s ts,s u. sssr , sss b ses ss1
peses lands .aeauareS for said canal
Sush leases rnay ran Ter term NOT
ezcesA3n@ twsnty ysars ct = Axed
49, r 1890 ~ ar rsspsrsiss..aHt
but nay run for term not eTeesAfHG
nins<y -Afss tss) years, prvwfasA thsy
snail oontain clause or elasses feT
s ss,s.. 4 =. , ..s.i .ss s.- :;
ezpsrafien Of me hyst ewsnty year
period. In thR eEe8f G@1t tnS 2ssu
BserA ana 10 lesges eenssst a9rss upeas
the remA$e~tla eat ana feappyStaBtm@st.
they smssA shuu Apnsiat IN sgt4aRater
VIE sAen kavs ne pswswu - eza bsae@ze
oempoussAsrs 10 whAm tks nna4bsr BsaAl
be reknrpoa fer deetafoR, AzA IN easo -
desazwemsneRt tissy shaH appss1nt ~ ufs
psrs &ad dssssssn q asy tvs 49, %
bssssng unsa tsss peTtSss said Bcard
Rag alse eenstFaet war sASw~aas gss-
vae8ra, and sothsT butl@d nsrs Ess4 lnz-
proseznenM upea tie ssM s0aaf, hHt
tAe reveunss fro1a TIE nsy1U@sfsR easzal
sleai1 be kspt separate fSsea the eNser
rcvsnaes ct the Port. 9BeA e@aea rev
ennes ahall be deemed to Include
reestslis OF an lan4s leased upsH ths
eaAaaL lock ahaTBss, assd siaggms fer
pWssasss, through the 0anaI. RI ths
Roard shall conssruat warehouses;. sle-
vasors and otrsr buildings or improve.
rnents for public purposes on cAnal
iaBFls, the r0nt&l valae of the site there
Of shall be fixed by appraissrs ap
poifited by said Board and the rscesTts
from such warehouses. sievafsrs and
other buildings or improvements shAIl
be charged with the payment Of such
rental value into fhe canal fund. The
canal fund shall be applied nTpt in the
operating expenses of the canal ans IN g
maintenance thereof, and thereafter IN
payment Of the principal and interest
of the canal bonds, and in the rsdHe-
ton in the manner provided In SAID
ordinance Of tire payments and contri-