New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-11-22

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business. Any vacancy occurring in the
| board of directors Except in the first
| boardl shall be filed by the remaining
| directors for that torm; any director, after
his election, dispOsing of his stock so as tC
| hold less than twenty shares, shall from
that time cease 20 be a director. and his
| place shall be filled as above.
| SEC. 5. Be it further enacted, etc. That
the first board of directors of said com
! Hany shall organize on or before the first
Monday of July, 1872, and all subsequent
boards, within ten days after their election
by eleCting one of their members president
and eIeCting a secretary. When it becomes
| necessary the board Of directors may elect
treasurer and engineer or any other Off
GERS they may designate, All such officers
shall be removable by the board of direc-
tors, except the president. The board OF
directors shall have the right to fix the
salary of the president, and the salary or
compensation of the other officers, and to
require bond, with good security, subject
to the approval of the board from the
treasurer, and fix the amount thereof, and
to pass all bylaws deemed necessary, not
inconsistent with this act or contrary to
law
SEC. 6. Be it further enacted, etc, That
stock certificates shall be provided, and
when issued, shall be signed by the presi-
dent Of the board Of directors and counter
signed by the secretary and sealed with the
seal Of the company: and a transfer book
shall be kept, and no transfer OF stock shall
be legal or binding on the company until
the transfer is made on the books Of the
company, and such transfer shall be legal
evidence of the ownership of the stock, so
far as the company is concerned, in any
court in this State; that a copy, certified to
by the secretary of this company, under the
seal of this company, of any resolution of
the stockholders or directors, shall be evi-
dence of stock or Of any written proceeding
kept by this company, and shall be taken
as evidence in any court in this State.
SEC. Z. Be it further enacted, etc, That
the board of directors Of this company shall
have the right to issue the bonds of this
company for any amount not to exceed the
whole amount of the capital stock, as fixed
by this charter, and shall fix the aggregate
amount of the bonds to be issued, the
amount and denOminatiOn of each bond, the
time of maturity thereof, the rate Of inter
est they are to bear, whether coupon bonds
or not. and every OtheC requisite 60 GOnStl-
tute them legal and certain: and in order
10 secure the payment of such bonds, with
the interest thereon, said directors shall
have the wight to- mortgage all the property,
both real and personal including the
bridge, which mortgage shall be recorded
in the office Of the recorder OF mortgages
for CaddO parish, and shall not be required
to be reinscribed to keep it in force and eff
feet; and said board Of directors shall have
the right to receive any donation Of gratu-
ity that may be given 90 said company, or
any other aid thereto on any such terms as
may be agreed on between them and other
parties.
SEC 8. Be il further enacted. etc. That
to the same company are hereby granted
the exclusive right and privilege to build.
construct, establish and maintain a plank,
shell or railroad from the terminus OF said
bridge on the eastern bank of Red river to
and across the Red Chute in Bossier parish.
and to the hills or high lands by such route
as shall be deemed most advantageous by
the directors of said company, and that the
same company shall be allowed and are
hereby empowered to charge and collect,
for passing over said road, tolls at such
rates as the directors shall prescribe; and
the same right and privileges granted by
this section shall be tor the same term OF
years as has already been granted in this
act, TO wit the term Of thirty years.
SEC. 9. Be it further enacted, etc, That
the property Of the said bridge and road
company shall be exempt from State and
municipal taxation for the full period of its
charter, and in consideration therefor the
said company agrees to pay into the treas
ury Of thd Charity Hospital at Shreveport
the sum of one hundred dollars, 20 be paid
within fifteen days from January ] IN each
year. for each and every year curing its
term of incorporation.
SEC. 10, BE it further enacted, etc. 3hat
this company shall have the right by 1ts
agents, surveyors, engineers and employees
to enter upon all lands and tcncments
through which it may conclude I" make
such road, and survey as hereinbetore pro
vided and lay out and construct the same.
That when such road, way or route shall
run through any Lands belonging to the
State of Louisiana. the said company shall
have the right of way. and the lahd where
on the said COmpany's road shall be CON
structed and for the distance OF eighty rods
on each side of said road, if such lands are
the property Of the State of Louisiana, shall
be and are hereby granted to said company
for their use and benefit to AID IN the cone
struction and maintenance Of said Goad.
Sc H. Be it further enacted, .Cco That
any parish, city. town or Incorporated VII
lage in this State be and is hereby anthor-
lied to aid said company i'll the construc-
ton of its bridge and road, or either OF
them. by contributions, or by subscribing
for its stock. or by purchasing its bonds, or
by issuing the bonds or warrants OF said
parish, CITY or town in favor Of said com
pany; and that for the purposes Of carrying
out the provisions OF this act. the police
iuries of the several parishes shall repre-
sent the same parishes respectively. and
the mayor and council, or board OF select
men, or board of aldermen shall represent
the said cities, towns or Incorporated VII
lagos. And it shall be lawful at any time
or times for any parish, city or town to aid
in the construction OF the aforesaid bridge
or road, or either OF them, by a voluntary
contribution or gratuitOus donation OF real
or personal property money or other effectS !