Le Louisianais. [volume] (Convent, La.) 1865-1883, 1869-10-23
No &c I
6J AN ACT

: No &c AN ACT
y 10 expedite the construction of The raiIroaa
, Inc New Orleans, Mobile and Ch,,,a noo,
Railroad Company in The State Of Lon
siana.
SECTION l.. Be il enacted By the Sena,. an
1i'uSs q Representatives of the Stat. of y,,,
s'a"a IN General Assembly convened, Th,
"e New o'eanS, Mobile and Ch,iloo,oo.
"'''''a" Company. H cooperation Of tho Star.
'' A'"o"'na, be and il, is hereby authorized /, /,
make aud issue, from lime to tim. Ne b.,,
matter provided its bonds. 10 be kuow,,
>'c"'o mortgage bonds Of The New Orleans
mobile and Chattanooga Railro,d Comn,ny
guaranteed by The State Of Louisian n, y az s,c,
DENOMINATIONS as HE company may .Iec,. I'M,
10 an amount not exceeding in Tia ,oo,.,,,,
Twelve itIonSaud five hundred d,I,,s e., HIN.
"'"' every ml'r /" length IF The main line If ii,
'"'''"''. :" >t'lv ir"m lie city 81 New DrIe,n.
ARA wAhir I'll, Stale rf lon,.i4na ,yh;,.h ..d
eo'''panv >iAiI roS>truc', 10 vii: &c m. m,i,
NV" exceeding ffom tie pol,,, whnr, !, sL,Y
'' N''S> ne western nBDttllII. nj
u" cay Of n " 0 leans. westward ,ewari aoa
10 ~" toin. where it shall in,.rs.c, ,,d c,,ss
th' western boundary Of ID, Slatp Of Inui.; ma
- The parish Of Caicasien. as said mai, I,,,
"a 'een located, or may be located in cn,lnr.
wy WIN W" chatter OF said connany. aud IN
conformity with The power md au,hot i,v vested
10 >a'd company by The Stale If Louisiana bv
a" a'' Of he General Assembly Of The sl.,e OF
Louisiana approved Angus, 10. 1868.
SEC BE " FURTHER enacted &C., tn,
S''h h""dS shah be numbered , u>.cu,,.v
ana Hha'i b" made payable 10 The St,,s IN
'"''' u ''afe'' al such lime as The comps,
'"av "e>lgn'lr therein, not more ,h,u fly nor
'Ns' 'hah l'fiy years from their da,e, and >I,tl
oe'' interest at such rate as The comu.nv may
lh"rein, not exceediuo ai,h, NO.,
'ehf per ahnum, payable sem annually. oud
.'"p""' i' shrh interest shall b. annexed
hereto The principal or interest. or both of
a." ponds may, a, the option Of the COMPANY.
'e made payable IN lawful currency If H.,
"'eu N'''e>' or ~ god coin, on in EuuI.
= '"y"of ~ SlcfItiiu, two I.,u-
ah' I'VE hnnd'rd pounds sterling per mile
nav, l"i the purposes OF THIS act. he d.,nsa
''''n 'ie ln''aIi"n Of tw-iv. Thousand hvo
u"dfrd ho!Ia's per mile IN section one n, ,h,s
: '""t''"'"' ani Va" pl'c" Of payment of IN. !
''' ''"' ~ interest al sand bonds, or any If {
'e", may be either Al The rirv of onlnu il, $
"-'''u' or IN" CITY Of New York as III, 4
'"pa'y may cleo, and designate N snch $
,nls. =
SEC. 3 b. IL tLr'her snqcied ctr. Tia, 81
g payment Of h" princiral aui ,,,, ,.., b, d
'h oo''s shall b" secuted by a mortgage. 10 :,
eSH"n'e by ~ company ,n III. Gnv.,n ~, $
HE SIa'" # Leiisiala ,>Irn-,., "a, . b
= >"''' i'"iil ihne 10 'Nme be hn5.Iets If sad g
and 3 o iar HE STATE Of Lon..iano and Il
'he ,aid company and whon.o-vrr shalt DE-
m TN" % time be- Governor of sand Star. s
I De he ifn>iea under sad ,not,oa,. .,j Al
vested WITH III" right and powers Conferred -
'o >nch trustee, and charged with tie duties o.
'fi'''f e imposed upon him. The said mari. o.
.e >hatl be a hen upon The Who'll. Of Nh. s,ia a.
IN line OF railroad of Sud companv within 8
H'"'e OF '""'siaha, and upon All til. ri.h, =
way, road bed, rail-, depotS. stations. sLon. 81
'"'hsS, maci'in"ty, tools, engines. ears. ana y
! ana PERSONAL estate within The State cf u
arp''rienan, 10 Or necessary tnr Tho SO
ration ii sand main line Of r.j,roai ow,.l ~
'''e comp" y at The date Of said mor,g,oe sa'
Nhich may be acquired hy j, thereafter ar W.
upon me Corporate tralichIses and nry,. OF
Is OF SAID rornpa y "ranipd hy tho S,.,. acc
''''''a re a''vr 70 the ron~trcliou, op-ta,lon no
use 81 SAID main me of railroad w,,h,n SUI
Stale "l Louisiana. But .iie hen ,t said De
shall b subj CT and subordinate -, $
f'r lien, 10 The extent n.., b,,o,e liza,
'hed. 10 f,r"t Of i first moriuau. IN h.. san
: ~ S''h company to secure hnnd. 10 no not
WI as "hrsi mortgage bonds of the New of
""h'Ie and Chattanooga Railroad hoI
pahy." Snch first mortgage bonds. and ,h.. i'm,
gage securing The same, shall b.. a pri,r sh.
'"y " me extent OF twelve ihon>ai,l 6y. NIB
red d"'l"ts, payable in coin ar cn,rcmv pnh
70 'h"">"n" five hundred pounds %s,e.Iius Nv
hr>' mortgage bonds. and The iu,s,,,, pan.
u may accrue thereon a, The ,a,. &C ,a, snc,
'u'"" r'"hf per cent per annnm. nav,LIo we,
upon each and every Nil. =, Inn
i''esa'i main line Of uil. .aa w,th,, H.. III.
OF Louisiana. inr'nding al! Re ,i.h, IF no,t.
road bed. rails, d.po's, ST. ,..,s. >h,nx ,le,.
'''ss' machinery, tools engines, ca,s and 10 III
ana personal estate within III. Stat. ,f prop
'a'a, "ppnr'enant to or necessary far III. ,.,
|'o" OF SAID main line OF railroad. own.d ,,,,h
e company al the date IF said mor,,,,o
'c' may be acquired by il thereafter. and ,iu,
corporate franchises and privileges q, rnh,
"'nP'"y grained by The Stale of Lonisi,u, m...
'e 10 Tie construction, operation and ne ,;,,u
nam line Of railroad within IN. Stat.
ots'ana the pri"cipa Of such t,., mari. m..,
bonds not 10 ir payabie in less than t,,,v mo.,
'ore than ht'y years from thei, date :, ~.
II" case OF drfsn1 in paymen, of ~iurere<, y, n
n. And ~ case Of II sale of sail r,;I...l ~,