Petition requesting sale of franchise for railway; advertising for bids; sale of franchise

Upon the presentation to any police jury of a written petition signed by a majority in number and amount of the abutting property holders along any public road, requesting the police jury to advertise and sell a franchise to construct, maintain, and operate, for a term mentioned in the petition not to exceed ninety-nine years, a railway utilizing electric or motive power other than steam on the road, the police jury shall, at a public meeting called for that purpose, canvass the petition. If it decides that a majority in number and amount of the abutting property holders on the public road have signed the petition, it shall proceed forthwith to fix the terms and specifications of the franchise, incorporating therein any special condition or specification requested, and to advertise the same for thirty days in the official journal of the parish, or in case there is no official journal, then in any newspaper published in the parish, and when no newspaper is published in the parish, then by posting in a conspicuous manner at the court house door of the parish, inviting bids for the franchise. On the day fixed by the advertisement, the president of the police jury shall, by public auction, sell the franchise to the bidder offering the highest cash price.