New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-11-29

BOARD OF directors Except III the first
hOardl shall be filled by the remaining
directors for that term; any director, after
ms election, disposing of bis stock go as to
hold less than twenty shares, shall from
that time cease to be 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
pany 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 electing secretary. When it becomes
necessary the board OF directors may elect
d treasurer and engineer, or any other off
Cers 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 10 fix tho
galary of the president, and the salary or
compensation OF the other officers, and to
require a bond with good security, subject
~ the approval Of the board, from the
treasurer, and tx the amount thereof, and
60 pass all bylaws deemed necessary, not
inconsistent with this act or contrary to
law
SEC. s. Be il further enacted, etc.s That
etOck certificates shall be provided, and
when issued, shall DO signed by the presi-
Nigned 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
she stockholders or directors, shall be evi-
dence of stock or Of any written proceeding
kept by this company, and shall be taken
SIS evidence in any court in this State.
SEC. Z. BE it further enacted, etc, That
9he 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 Tx 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 other requisite to c0nsti-
GUtc them legal and certain; and in order
60 secure the payment Of such bonds, with
She interest thereon, said directors shall
have the right to mortgage Gil 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 BIO required
20 be reinscribed to keep it in force and eff
feet: and said board Of directors shall have
the right to receive any donation or gratu-
itY that may be given 10 said company, or
any other aid thereto on any such terms as
may be agreed on between them and other
parties.
SIC, S. Be il further enacted, etc. That
10 the same company are hereby granted
she exclusive right and privilege to build,
construct, establish and maintain plank,
shelI or railroad from the terminus OF said
bridge on the eastern bank of Red river to
aud across the Red Chute in BOssier parish,
end to the hills or high lands by such route
ss shall be deemed most advantageous by
she 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
Yates as the directors shall prescribe; and
the same right and privileges granted by
this section shall be for the same term OF
years as has already been granted in this
act, 10 wit; the term Of thirty years.
SEC. Q. Be it further enacted, etc, That
the property of the said bridge and road
company shall be e8 empt from State and
municipal taxation for the fun period Of its
charter and in consideration therefor the
said company agrees to pay into the treas
arv Of thd Charity Hospital at Shreveport
the sum Of one hundred dollars, to be paid
within fifteen days from January IN each
year, for each and every year during its
Germ of Incorporation.
SEC 10. BE it further enacted, etc, That
sli- company shall have the right by it's
agents. surveyors, engineers and employees,
to enter upon all lands and thnements
through which it may conclude to make
puch road, and survey az hcrGiDbeiore pro-
Viled, and lay out and construct the same.
That when such road. way or route shall
sUn through any lands belonging to the
State Of Louisiana, the said company shall
have the right OF way and the Lard where
ua the said company road shall he con
otructnd and for the distance Of eighty rods
On each side Of said road, ii such lands are
Hhe property Of the State OF Louisiana, shall
as and are hereby granted to said company
fOr their use and benefit TO ald IN he con
StructiOn and maintenance Of said road.
Sic. III. Be it further enacted elc., That
aLy parish, city. town or incorporated vii
i8ge in this State, be and is hereby authOT-
sEed 20 aid said company in the const1uc-
zion of its bridge and road, or either OF
9hem, by contributions, or by subscribing
5ou its stock, or by purchasing its bonds or
jv Issuing the bonds or warrants of said
Oarish, CITY or town in favor OF said COM
Yany: and that for the purposes Of carrying
amt the provisions OF this act the police
iuries of the several parishes shall repre-
sent the same parishes respectively, and
ahe mayor and council or board OF select
mon, or board Of aldermen shall represent |
the said cities, towns or Incorporated vii
iagea And it shall be lawful at any time
or times for any parish, city or town TO aid |
il the construction Of the aforesaid bridge
or road, or either OF them, by a voluntary
or gratuitous donation OF rcal !
ar personal property, money or Other effects |
belonging to such parish, city or town; and |
any parish, city or Incorporated town in the |
State is hereby authorized to issue five or
Ten years bonds, bearing interest at q rats,
Aut exceeding ten per cent per annu5n, with /!
coupons attached, in favor Of said bridge |
and road company, and such issue 0t bonds |
DIV any such parish, city or Incorporated |
town, when signed by the proper officers OF |
such parish, city or town, rs hercinbelOre |
specified, shall be good and lawful and |
ahall not require any other special act OF |
Ihe Legislature to permit the same to be |
JHade.
SEC L. Be it further enacted, etc, That |
The board of directors OF said company shall I
have the right to sell or dispose of any OF |
the capital stock Of said company not al |
ready issued at the time 70 any person, com |
pany corporation, or other party, on such |
terms as they may deem best, and to receive |
10 payment therefor money bonds Of any |
materials, or other thing, and |
at such prices or rates as they may deem to I
The interests of this company.
SEC. b. BE it further enacted, etc, That |
this act shall take effect from and after its |
passage. -
Sneaker Of the House of Representatives.
-fSignedl p. Il. S. P4NCHBACk.
Lieutenant Governor and President OF sAe
Senate.
Approved August -. 1872
iSiruedl II. G. WA&MOTR.
Governor of the State ct Louisiana.