The Opelousas journal. [volume] (Opelousas, La.) 1868-1878, 1871-11-18

as may therein be set forth, on the pay
ment, or tender of payment, or deposit Of
the amount Of the appraisal and damages
by said company, as provided in said order,
and said order, or duly certified copy
thereof, with proof of such payment and
deposit as therein provided, shall be con-
sidered as legal evidence OF the title and
estate of said company to the real estate
acquire by appraisal by said company un-
der ard pursuant to this act, shall be
deemed to be acquired for public use.
Sec. -. Be it further enacted. etc,
from the parish in which the said company
seek to acquire title to property, the pa' iSh
judge shall be competent to act in all mat
tcrs Of appropriation, and shall sign all
orders, appoint commissioners, and render
DEGREES, as set forth in this act provided,
which acts of the parish judge shall have
the same force and effect as if the district
judge had acted in person.
SEC. l3. Be it further enacted, etc,
That the New Orleans and Northeastern
Railroad Company be and it is hereby au-
thorsed to make and ISSUE from time to
time, as hereinafter provided its bonds
to be known as "second mortgage bonds
of the New Orleans and Northeastern Rail
road Company, guaranteed by the State
of louisiana and of such denominations
as the company may elect, but to an
amount not exceeding in the aggregate
twelve thousand five hundred dollars for
each and every mile in length of the main
line of its railroad and branches about
ninety-sevcn miles in length in all-withn
the State of Louisiana, which said company
shall construct. Such bonds shall be
numbered consccutivc!y, and shall be made
payable to the State Of Louisiana, or bearer,
at such time as the company may designate
therein. Not exceeding eight per cent
per annum, payable semi mi.annually, and
coupons for such interest shall be annexed
thereto. The principal or interest, or both,
of said bonds may, at the option of the
company, be made payable in lawful cur
rency of the United States, or in gold
coin, or in English sterling; and if payable
{ in sterling, two thousand five hundred
| pounds sterling per mile shall, for the pur-
poses of this act, be deemed within the
limitation or twelve thousand five hundred
dollars per mile, IN this section of this act
contained, and the place of payment of the
principal and interest Of said bonds, or any
Of them, may be either at the city of Lon
don, in England, or the city of New Orleans
| or New York, as the company may elect
and designate in such bonds.
Sec. H. Be it further enacted, ETC.,
That the payment Of the principal and in
terest Of such bonds shall be secured by a
mortgage, to be executed by said company
to the Governor of the State of Louisiana
t as trustee for whoever shall from time tc
time be holders of said bonds, and also fol
1 the State Of Louisiana, and for the sale
, company, and whoever shall from time tc
time be Governor of said State, shall be
tie trustee under said mortgage, and bt
vested with the rights and powers conferred
G upon such trustee, and charged with the
duties hereinafter imposed upon him. The
I said mortgage shall be lion upon thu
e whole of said main line Of railroad of sale
e company within the State Of Louisiana
e and upon all the right of way, road bed
/ rails, depots, Stations shops, building, ma
4 chinery, tools, engines, cars and real anl
S personal estate within the State Of Louis
e lana, appurtenant 10 Or necessary for tn
: operation OF said main line of RAILROAD
u owned by the company at the date of sait
r mortgage, or which may be acquired by
n it thereafter, and also upon the corporate
y franchises and privileges of said compan,
y granted by the State of Louisiana velatv
e to the construction, operation and use O
1t said main line OF railroad within the Stat
J. of Louisiana, but the lien of such mortgag
S shall be subject and subordinate to prio
?, lien to the extent next hereinafter specified
II in favor Of first mortgage, to be made b,
said company to secure bonds to be know
, as first mortgage bonds of the New Or
d leans and Northeastern Railroad Com
~ pany," such first mortgage bonds an,
If the mortgage securing the same shall be
II prior lien only to the extent of twelve thou
n sand five hundred dollars per mile, payabl
It in the gold coin of the United States, an
Y interest which may accrue thereon at
t, rate not exceeding eight per cent pc
:, annum, payable semiannually, upon eac
h and every mile of the aforesaid main lin
e of railroad within the State of Louisiana
e including the right of way, road beds, rails
,, depots, stations, buildings, machinery
J.. tools, engines, cars and real and persona
n estate within the State of Louisiana, appul
Il tenant to or necessary for the operation c
Y said main line Of railroad owned by tn
,r company at the date of said mortgage, 0
d which may be acquired by it thereafter
Of and of the corporate franchises and priv
II lcges of said company granted to it by tn
t. State of Louisiana relative to the construc
:, ton, operation and use of said main lin
d of railroad within the State of Louisiana
" the principal of such mortgage bonds nc
j. to be payable in less than twenty year
IS from their date, unless in case of defau
N Of payment of interest thereon; that tn
if first mortgage bonds issued by said com
st pany on that part of its railroad fror
d Lewsburg to Pearl river distance {
l. forty-eght miles for the sum of six hundre
to Thousand dollars, or twelve thousand fy
J. hundred dollars per mile, executed bcfoi
u Robert j. ker, notary public in the city
At New Orleans, on the first day of Octobe
s. 1870, are hereby recognized as a portion
)e said first mortgage, authorized to be issue
rt on the whole line of the oompany's roac
,r within the State of Louisiana, and in cas-
= Of a sale of said railroad or any part thereo
IL for the satisfaction of said first and secon
" mortgage bonds or either of them, the Pre-
le ceeds Of the rolling stock and person'
to property which may be sold shall
" deemed to appertain to that portion of sal
le main line of railroad within the State
rt Louisiana which shall have been constru
vt ted and operated, and shall be apportione
ut equally upon each mile thereof, and sha
&c be deemed proceeds Of the completed po
rs ton of said railroad, and the lien of sa
b. first mortgage shall be governed by Il
le further provisions hereinafter contained.
of Sec. 49, Be it further enacted, ETC., TIL