New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-11-23

ITS
board shall be filled by the remainin,
directors for that torm; any director, afte
nus election, disposing of his stock so as t.
hold less than twenty shares, shall from
that time cease to be director, and hi
place shall be filed as above.
Sec D. Be it further enacted, ETC., Tha
the first board of directors of said com
pany shall organize on or before the frs
Monday Of July, 1879, and all subsequen
boards, within ten days after their election
by electlng one of their mem bers president
and eIectlng secretary. When it becomes
necessary the board OF directors may cleo
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 OF
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 al 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
lar ar the company is concerned, in any
court in this State; that 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 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 consti-
tute them legal and certain; and in order
10 secure the payment of such bonds, with
the interest thereon, said directors shall
have the right to mortgage oil 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
10 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-
!ty that may be given to said company, or
any other aid thereto on any such terms as
may be agreed on between them and other
parties.
SEC. 8. Be it further enacted, etc. That !
to the same company are hereby granted |
the exclusive right and privilege to build, |
construct, establish and maintain 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,
Tor 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 for the same term OF
years as has already been granted in this
act TO wit: the term of thirty years.
SEC. s. Be it further enacted, etc, That
the property Of the said bridge and road
company shall be ex empt from State and
municipal taxation for the full period of its
charter, and i'll consideration therefor tho
said company agrees to pay into the treas
ury 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
term of Incorporation
SEC. 10. Be it further enacted, etc, That
this company shall have the right by its
agents, surveyors, engineers and employees
TO enter upon all lands and tenements
through which it may conclude to make
such road, and survey as hereinbefore pro
vided, and lay out and construct the same.
That when such road, way or route shall
Kun through any lands belonging to the |
State of Louisiana, the said company shall
have the right of way, and the land where
On the said COlnpany's road shall be con
.tructed and for the distance Of eighty rods ~,
on each side of said road, if sUch lands are
,he property Of the State of Louisiana, shall 1
be and are hereby granted to said company
cor their use and benefit to AID in the con-
struction and maintenance of said road.
SEC. II. BE it further enacted, etc, That
any parish, city, town or Incorporated viii
age in this State, be and is hereby anth0r' "
zed to aid said company in the cOnstruc-
ion Of its bridge and road, or either OF
hem, by contributions, or by subscribing y
or its stock, OF by purchasing it's bonds. or I
" issuing the bonds or warrants OF said
,arsh city or town in favor Of said com y
amy; and that for the purposes Of carrying "
,ut the provisions of this act, the police =
uriea of the several parishes shall repre- Il
ent the same parishes respectively, and -
he mayor and council, or board Of select -
men, or board Of aldermen shall represent -
he said cities, towns or lncOrnOra ted viii y
ages. And it shall be lawful at any time y
T times for any parish, city or town to aid T.
4 the construction of the aforesaid bridge .!
r road, or either OF them by a voluntary II
contribution or gratuitOus donation of real =;
T personal property, money or other effects u
elonging to such parish, city or town; and Il Il,
ny parish, city or incorporated town in the y
tate is hereby authorized to issue FIVE or -
IN years bonds, bearing interest at rate =
OF exceeding ten per cent per annum, with 81 ..
oupons attached, i'll favor of said bridge y
nd road company, and such issue Of bonds =
Y any such parish, city or incorporated Il
Iwn, when signed by the proper officers OF ~ ~
iCh parish, city or town, as hereinbe1ore 81
Decifed, shall be good and lawful, and (,
lall not require any other special act OF =,
re Legislature to permit the same to be =,
AIDE. W
le board of directors Of said company shall "
ave the right to sell or dispose Of any of 10
le capital stock of said company not al M
ady issued at the time to any person, com dc
any, corporation, or other party, on such III
rms as they may deem best, and to receive "
payment therefor money, bonds of any oh
materials, or other thing. and s;I
such prices or rates as they may deem to Ia
e interests of this company. or
SEC 10. Be it further enacted, etc. That Va
is act shall take effect from and after its mr.
USAGE. "a
iSignedl o. III. BREWSTER, s.
,aaker Of the House of Representatives 81
tSigned) p. b. S. PIECHBACK, an
eutenaut Governor and President Of the 6a
Senate. vi
August 49, 1879. ~ -