Semi-weekly Louisianian. [volume] (New Orleans, La.) 1871-1872, 1871-11-23

be delivered Ia the Governor of the
state OF Louisiana, and If the same
shall be in conformity with the pro-
visions OF this act, he shall endorse
his approval in writing thereon, aud
cause the said mortgage thus APP
the Office Of the SECRETARY Of State.
Such approval by the Governor
shall be conclusive as to the suf1i-
cheney Of the form ahs execution of
proved to be recorded III length in
said mortgage, and as to its coa
formity to the Provisions ci this
act; and such recording shall be-
conclusive notice to all persons Of
said mortgage, and such lien shall
be paramount to all other liens and
aneumbrances upon the mortgaSed
premises, except the aforesaid lien
OF the first mortgage to the extent
of twelve thous nd FIVE hundred
dollars, in ge..l coin OF the United
States, and interest, on each and
every mile Of said main line of rail-
road within the State of Louisiana.
Sec. -. Be it further enacted,
etc, That wEon the said second
mortgage shall have been so de.
l;veNd, approved and recorded, and
one continuous portion or section
81 ten miles III length of the said
main line OF railroad within tine
State of Louisiana shall have been
constructed, and the iron rails laid
thereon, the company may deliver
to the Governor of the State of
Louisiana one hundred AID ..ve.ty-
five thousand dollars, o. twenty five
thousand rcu::ds sterling, O. snch
second mortgage bonds, and the
Governor shall thereupon subscribe
certificate to be written or printed
upon each of said bonds in the fol-
lowing words: The payment of
the principal of the within bond
when due. and of tire interest there
OF az it accrues, is guaranteed by
the State of Louisiana, pursuant
to the provisions of the act of tie
General Assembly of said State,
authorizing such guarantee and
shall afiix the great seal Of the State
Of Louisiana to such certificate, and
the said seal shall be attested by
the signature of the Secretary OF
State, and the bonds Shall then be
delivered to the company for it's
general uses and purposes author
lied by its charter.
Sec. 20. BE it further enacted,
etc, That upon the construction of
said additional section or portion
of ten miles in length of said main
line railroad, within the State of
Louisiana, a further amount of
such second mort ,age bonds, equal
to twelve thousand FIVE hundred
dollars per mile. or two tho1aand
five hundred pounds tic ling, as
the company may elect. for each
and every mile in length of said
main line OF railroad within the
State of Louisiana, SO constructed
(and for which bonds shall not
have previously issued and guaran-
teed as herein provided) and there
upon the said Governor shall SUBJ
scribe certificate of guarantee
upon each and every of such bonds
in the form prescribed in section
nineteen of this act. and the same
shall be sealed and attached in like
manner, and shall forthwith be
delivered to the company for its
general uses and purposes anthor-
lied by its character. And when o
further section Of ten miles is com
pleted similar issue of bonds shall
be made, and for every ten miles,
ell the residue of the second mort
gage bonds, authorized by this act
may be executed by the company,
and certificates OF guarantee there
Oh, in the form aforesaid, shall be
subscribed by the Governor, and
sealed and attested as hereinbefore
provided; and such guarantee bonds
shall forthwith be delivered to the
company for its general uses and
purposes authorized by its charter.
Sec. 81. Be it further enacted,
etc, That the signature of the Gov
eraor to certificate Of guarantee
shall be conclusive evidence in
favor Of the holder of every bond