New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-11-15

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, ana
to pass all bylaws deemed NJ essary' nob
inconsistent with this act or contrary 10
law.
SEC. 6. BE it further enacted, etc, That
stock certificates shall be proVlQed' anu
when issued, shall be signed by ihe pres
dent of the board Of directors aha cCsl1t "
signed by the secretary and sealoL II oaie
seal Of the company; and transfer DOok
shall be kent. and no transfer OF sJncK shai!
aa ieraI III binding on the company until
fine transfer is made on the books Of the
COMPANY. and such transfer shah De legal
evidence Of the ownership OF IEe STOCK, 20
far as the company Is concerned, "a any
conT+ in this State; that a copy, certified to
9,v fhe secretary Of this company, under the
seal Of this company, Of any resolution Of
She stockholders or directors, shall be evil
s!ence Of stock or Of any written proceeding
kent bv this company, and shall be taken
as evidence III any court in this State.
SEC. 7. Be it further enacted, etc, That
Ghe board 81 directors of this company shall
dave the right to issue the bonds Of this
company for any amount not TO exceed the
whUie amount Of the capital stock, as fixed
amount OF tie bonds to be issued, the
amount and denomination Of each bond. The
time Of maturity thereof, the rate OF inter
est tBey are to bear, whether coupon bonds
or not. and every other requisite to constl-
Iute them legal and certain: and 10 order
to secure the payment OF such bonds, WITH
the interest thereon, said directors shall
have the right 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 transcribed to keep it in force and ct
feet: and said board Of directors shall have
the right to receive any donation or gratu-
ity 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 ana privilege to build,
construct, establish and maintain plank
shell or railroad from the terminus OF sald
bridge on the eastern bank of Red river to
and across the Red Chute in Bossier parish
and 10 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 for the same term OF
years as has already been granted III 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 exempt from State and
municipal taxation tor 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, 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, Thai
this company shall have the right by its
agents. surveyors. en- gineers and employees,
10 enter upon All lands and tcDenents
through which it may conclude to make
such road, and survey as her6lnbetOre pro
vded, 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 land where
on the said company road shall be con
Etructed and for the distance OF eighty rods
on each side of said road, ii such lands are
the property Of the State of Louisiana, shall
be and are hereby granted to said company
for rLeie use and benefit to and in the con
struction and maintenance Of said road.
SEC. II. Be it further enacted, etc, That
any parish. city, town or Incorporated viii
LACE in this State, be and is hereby authOr
lied to aid said company IN the constitute
ton of It's bridge and road, or either Ut
them, by contributions, or by.subscwbtng
Tor It's 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 Ihat for the purposes o. carrying
nur Tit4 7.,DvistD8s gt tins act the 1g.!ctA