The weekly Iberian. (New Iberia, La.) 1894-1946, 1906-05-05

westward where connection will be made
with any other trunk line as above requri-
ed"
5th The said Central Railway Company
OF Louisiana shall maintain said Division
Headquarters and Division Terminals and
Workshops and Round House as above set
out. in said CITY, during period Of at least
ten years from the beginning Of the coIlec-
II IN of said tax.
9Th, That the said Central Railway Com
pany OF Louisiana shall Obligate itself to
the effect that /; at any time. 1t should
abandon for the uses OF Terminals, Work
| shops Round House and Trackage, any of
the property which 1t may have acquired
in the City OF New Iberia, then the said
Company shall deed over to the Mayor and
Board Of Trustees OF the city OF New iberia
for the use and enjoyment OF the citizens
| thereof, ali the rights, titles and interests
which the safe Company shall have In the
| said property thus abandoned. and OF which
| 1t can make legal disposition .
9TH. The tax to be levied and to be
collected and the annual amount herein
prov ided for shall not be paid to the rail
way company until the said railway line
shall have been completed and In operation.
and the other conditions herein above set
forth shall have been complied with. II, In
any OF the said ten years, In any manner, and
fui any cause after the collection OF the
taxes duly authorized by the tax payers al
the election to be held in accordance here
with and which Is destined to meet the
nual installament herein above specified
and as required by law. there shall remain
surplus; then the said surpl, shall be Civ
on to the said railway company as a pay
ment on the last !nstalnent provided for,
that Is the installment to be paid In the
tenth year, and upon such annual sur
pusages liquidatng in full by anticipation
as aforesaid the last payment, then the resi-
due il any shall be imputed to the next
proceeding installment. or that which will
be due In the ninth wear and SO on in sue
cession."
sth at is understood that IL In this man
ner the sum Of One Hundred Thousand Dol
lars 800, O00- be realized before the expl-
ration of the ten years, then the said tax
shall cease and the City OF New Iberia or
It's tax PAYERS shall not be liable for any
further sum, IL being the purpose to limit
the aggregate amount to be paid the Said
railway company as aforesaid, to the sum
Of One Hundred Thousand Dollars --sl00,-
900. 49,
9th. at is further understood that mas
much as the tax herein provided is prnci-
pally d estned to aid the central Railway
Company OF Louisiana to acquire the
grounds necessary for depots. rOundhouse,
machine shops and the trackage incident
to the establishment in the city OF the Divi
sion Headquarters aud Terminals above
provided for, should the said Railway Com
pany Of Louisiana be able 10 acquire the
property as required, for sum less than
that herein above proposed to be voted.
then will the said Central Railway Compa-
ny OF Louisiana receive from the collection
of taxes imposed, IA sum only equal to the
monies it will have expended In anticipa-
tion OF the Collect ion OF said taxes to acquire
said properties, together with five per cent,
interest per annum on such sum until its
final liquidation from the collection OF said
taxes aud shall release the tax payers OF
said City of New Iberia from any further |
paymcut of taxes"