New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-03-22
are hereby authorized to extend the same

the Alexandria, Homer and Fulton Railroad
Company shall nave full power and author
ity to contract, to connect or consolidate
with any other railroad company that has
or NAV be chartered by authority OF the
State of Louisiana, or any other State OF
the Federal Union.
SIC, IL. BE it further enacted, etc,
That the Alexandria, Homer and Fulton
Railroad Company is hereby authorized to
make and issue from time to time. as here
matter provided. its bonds, to be known as
Second mortgage bonds of the AleXan-
dria. Homer and Fulton Railroad Com
panv. guaranteed by the State of LOUIS
lana" of such denominations as the com
pany nav elect. but to an amount not cX-
cecding i'll the aggregate twelve thousand
five hundred dollars for each and every
mile in length of the main line of its rail-
road from the town Of Alexandria. within
the State of Louisiana. which said company
shall construct. to wit: of the main line ex-
tending from opposite Alexandria. on the
Red river. toward and to the point where
it shall intrrSect and cross the northern
boundary of the State of Louisiana, i'll the
parish of Claiborne. as SAID MAN line has
been located or may be located. in conform
ity with the charter of said company, and
in conformity with the power and authority
vested in said company by this charter
SEC. II. BE it further enacted. etc.
That such bonds shall be numbered con
secutively. and shall be made payable to
the State of Louisiana or bearer, at such
time as the company may designate there
in, not more than fifty por less than forty
wears from their date. and shall bear inter
est at such rate as the company may de-
signate therein. not exceeding tl@ht per
cent per annum. payable semi annually.
and coupons for such interest shall toe an
nexed thereto. The principal or lntercst. or
both of said bonds may. at the option OF
the company. be made payable III lawful
currency of the United States or in gold
com. and the place of payment of the pIin-
cipal and interest of SAID bonds, or any ct
them. NAV I've in any city of the United
States as the company may elect and de-
signate in such bonds.
SEC. le. BE it further enacted. etc. That
the payment of the principal and interest
of such bonds shall be secured by mort
gage to be executed 10y said company to the
Governor of the State OF Louisiana. as
trustee for WhOmsoeNer shall from time to
time be holders of said bonds, and also for
the State of Louisiana and for the said com
uany: and whomsUever from time to time
lie Governor of said State. shall be tn"
trustee under said mortgage, and be rested
Ivested with the rights and powers con
terred upon such trustee. and charged with
the duties hereinafter imposed upon him.
The said mortgage shall be a lien upon the
whole of said main line OF railroad of said
within the State OF Louisiana. and
upon all the right OF way. road bed. rails
dtpots. stations shops. buildings. machln
cry. tools, engines. cars, aud real and per
sunal estate. within the state of Louisiana.
apVllrtcnant to or necessary for the opera
ton of said main line OF railroad o"ned by
the company at the date Of said mortgage.
or which MAY he acquired by 1t thereafter
and also upon the corporate franchises and
privileges OF said company granted by the
State of Louisiana relative to the construC
ton. operation and Use OF said main line of
railroad within the State OF Louisiana. But
the lien of such mortgage shall he subject
and subordinate to Il prior lien, I" the cN-
tent next hereinafter specified. III
favor of a first mortgage to be made bv
said company. 10 secure bonds IL
be known as first mort -aGc bonds of the
Homer and Fulton Railroad
Company" Such first mortgage bonds.
and the mortgage securing the same. shall
bt u prior lien on Y To the extent of twelve
five hundred dollars per miic.
PAYABLE in coin or currency, OF such first
NOR. gage bonds and the interest which may
accrue thereon. ut the rate OF not exceeding
eight per cent per annuln. payable scInl-
annually. upon each and every mile of the
a aforesaid main lin" of railroad within the
State of Louisiana, including all the right
of way road bed. rails. depots stations.
shops. buildings, machinery. tools. engines
cars. and real and personal estate. within
the State Of Louisiana, appurtenant to or
necessary tor the operation of sad main
line of railroad owned 10y the company at
TIE date OF said mortgage. or which HAY he
acquired by it hereafter. and of the cor
poratc franchises and privileges of said
company granted hy the State OF Louisiana,
relative To the construction, operation and
use of said main line of railroad within the
State of Louisiana. The principal of such
first mortgage bonds not to br PAYABLE i'll
less than forty nor more than fifty wears
from their date, unless in case of default in
payment of interest thereon. And i'll case
of sale of said railroad, or any part thereof.
for the satisfaction of said first and second
mortgage bonds, or either of them the pro-
cecds OF the rolling stock and personal
property which may be sold shall be deemed
to appcrtain to that portion of said main
line of railroad within the State OF Louis-
ana which shall have been constructed and
operated. and shall be apportioncd equally
upon every mile thereof. and shall be
deemed proceeds Of the completed portion
of said railroads: and the lien of said first
mortgage shall be governed b, the further
hereinafter contained.
SEC. -. BE it further enacted etc. That
the SAID mortgage TO the Governor of the
State Of Louisiana shall describe the second
lnortgag" bonds thereby secured. and shall
also provide for the payment by the COLI
pany TO the trustee of a sinking fund for the
gradual redemption of the princi pal of said
bonds. The payment of the said sinkin.
fund shall commence i'll five Years from tie
date of said mortgage. and shall be made
thereafter; and each payment
shall not be less than onthalf Of one per
cent of the total amount of the principal Of
all the bones which shall MP to the time of
such payment, have been guaranteed by the
State of Louisiana as hereinafter provided.
" neither outstanding or surrendered to the
trustee for the purposes OF the sinking fund
Is hereinafter provided. The moneys 50
paid to the said trustee shall be forthwith
paid by him as soon received into the
treasury OF the state, and shall he paid ont
only on the warrant of SAID trustee for ste
md mort gage bonds of sad company sur
rendered to hiIn. and all bends thus sllrrrn-
Tered and pd;d for shall be forthwith
stamped by the trustee. surrendered to
he sinking fund and not negotiable" in
omc ctfcr;ual manner, so that they can not
,c again issued, and shall be Immediately
hereafter deposited in the treasury of the
State. and the number and amount of each
md every bond surrendered to the sinkin.
und shall be entered 10y the trustee and by
he treasurer Of the State of Louisiana. III
BOOKS to be kept by them for that purpose,
which books shall be ut all times be open to
he inspection Of the officers of the com
,anv.
But the interest on such surrendered
ponds shall be payable rs it accrues to the
said tru>tee, according to the tenor of the
coupons, and become part of the sinking
und, and shall he deemed secured by said
mortgage in like manner as if said sur