Semi-weekly Louisianian. [volume] (New Orleans, La.) 1871-1872, 1871-07-13

shall be pshble, IN all cases where any
is required ly4 tbis actsor agreed
BY the company tosbe made in sterling, II
such payment il reduced to currency, the
premium ON gold in We city OF New York I
and thsrate of exchange onL london ruling / |
a. the time when such payment is due. 1
shall be included; and whenever. any pay
ment 30 required or agreed to be made in
coin is made in currency. the premium On
gold ruling in the city OF New York, at the
time the payment is due, shall be added;
and insue of any decree or recovery In
any court of this State upon said second
mortgage bonds, or any of them, or upon
said mortgage, the ameant due upon such
IF said bonds rs may be payable IN coin
or sterling, shall be asoertained by re-
!ucing coin and sterling,s respectively,
INTO Currency, according to the foregoing
Jules. Whenever the term g Currency
s used in this act, it shall be deemed to
mean obligations of the United States o.
America, which ard, or shall be, by the
laws of the United States, made a legal |
lender in payment of debts. ~ 81.
| See. g. Be it further enacted, ETC., That |
The said mortgage to the Governor Of the
/ State of Louisiana shall contain further
! revision, that III case default shall be
made in The payment of the interest OF
aid bonds. or any of them, or of the said
sinking fund; or any part thereof, aud the
same shall remain in arrear for sixty days
,fter becoming due, and being demanded
If the said company, the principal Of all
The bonds secured by said second mort
,aqs, snd then outstanding, shall, upon
! the expiration of said sixty days, become
: iue aud payable, aud said mortgage shall
( contain suitable provisions for the sale OF
r -aid railroad and the appurtenances by
. he trustee, in case of defiul; III the condi-
p ions of said mortgage. t.,--.
Sec. T. Be it further enacted, etc. Tina.
! the said mortgage shall, after its execution
:, by the company, be. delivered to the
tvoVtInoT sDtfbtc VI iIONtrtoAAss oAA>s -
the same shall be in conformity with the
provisions of this act. he shall indorse his
: approval in writing thereon, and cause
the said mortgage thus approved to be re-
C corded at length in the Office of the Secre-
Il t.sry of State. Such approval by the
g Governor shall be conclusive as to thu
r. suficiency OF. the fcrin and execution O
>, said mortgage, and Us to conformity Il
A., he provisions OF this net, aud such record
nc snail be constructive notice 20 al Per
sons of the lea OF said mortgage, and suel
: leu shall be paramount to all other hen
: nd incGmbrances upon the NOR gage
.,re,rises, except the aforesaid len Of tn
IL .lrst mortgage n the extent OF twelv
q. thousand five hundred dollars, or tw
n thousand five hundred pounds sterling
al md interest, on each and every mile {
~ aid n, .in line Of railroad within the Stat
eG # Louisiana '''' .'---
&C So, 3. Be It further enacted. etc. TIL;
il yheu the said second mortgages s.Is,l ha'
,ic ,een SO delivered, approved and record.
i, nd one cou!iruoIs p"rion OF section
u. iva lniie, III len,ih OF iii9 said main line
:. railroad, within the State % Lruis:ao
- han have been constructed by the eoi
:, .,ary, aud tne RAILS lad thereon, the COZ
,.nv mny deliver to the Governor of t.
state If Louisiana s:xsy-two thorsind ii
- ,nndred dollars, or twelve Thousand d
I'D ! ,updreL pounds sterling, OF suck 7scoi
el' acrt2a2e bon.i-, AID the Governor sh-
The hereupon subscribe certificate. to
81 written or printed, upon eacn Of -
bonds, in the fol.,wing words: III
ple iaylaent Of TIE principal OF the with
.,u.i soni when due, and Il the interest ther
:, N SO i, accrdes, is guaranteed b. q
,a;, state of LIaisiapa, pursuant to the pr
-is,.ons Of the rct Of the General Assent
-. ,fslid State authorizing such guarantees
md hal aiix the great seal OF the S.-l
If Louisian. Ia such certificate, and t
Al aid seal shall b1 att,s.ed by the signatC
Oh II the Secretary OF State, and the bon
'os ball then be delivered to the coinpa
an. ar itI general us,y, md, purposes auth,
b. lzei by its charter.
q SEC g. Be it further enacted, etc., II
anc ,oon the conservation oil each aliitio:
ND. lection or portion of FIVE miles in LEM
til, Il snid main line of railroad within :
h.ii state Of Louisiana, the company may e
IN; ute and deliver to the Governor OF {
ron, sta.u OF Louisiana q further amount
,u,., Ai,d second mortgage bonds, equal
-. we've thousand fve hundred dollars.
- .wo thousand five hundred pounds ST
.ns, " the company may elect. for e:
md every mile in length of said main ]
- II railroad within the State OF Louisi'
an 80 Constructed land for which bonds 81
not have been previously guaranteed
Tina. herein providedH and thereupon the 9
mari Governor shan subscribe certificate
shal. guaranty upon ,each and every one of 4
vim, bonds, in the form precribed in sect
and eight OF this ACT, ana the same snai
ni.r sealed and attested in Ike manner,
IRE shall forthwith be delivered to the c.
than pany for its general uses and purpo
N O, authorized by its charter; and when
shedl whole of said main line Of railroad vii
NeS the State of Louisiana shall have /
,nspa- constructed by said company, ali the !
sue due of the second mortgage bonds,