The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1908-10-10
: rom Second Page

d ,tItrtippaI Amendments 4 linen Intent
,.5,i,tion providing 2!. ,o5 ,, s..g ~
ad' .:.! 9o,'t to the people Of fan an
1 5s.at totbs Constitution . Of the the
'hif,'15 ,Dj,iana authorizing :, the
a q !, Laid, aid bonds and rat'fyIng
a.. poe ! d ,''I Of this Act is recon
$ po' 81 the Port Investigation n
Y I'D ..i 1I created by Act No. 9
bar n, s'.,, Session Of 1907; there
: ! :. II the State Of louisiana
ls,n = ii the members elected to
gp,s concurring; .;e,.tioo Of the
''Ss' ctste Of Louisiana, by the
., M, amsndment to the Constj-
n. C. ct ate. hereinafter submitted !.
BE- Board Of Com n1nsss5 ba , Act CT
M g. aI General Assembly of 1896
i by Act No. sc of the Cen
',si, # the year 1900, IS here =
va Iceland empowered and it .ha.,
Y. tissue bonds not to exceed
~ y, FIVE hundred thousand dol
1909, bearing five per cent
u, interest, payable semI-annu-
| NJ Of which shall be pay, pay
= ,i,ne between July |, 1924,
losg, Said bonds shall be
snbIs to bearer and shall be
'.s,+ Commission Bonds. They
i ID denomination of one thous-
,fnlsl,OOO.OOl each, payable in
n,nsy Of the United States with
..,, interest coupons attached,
I. lst and January lst. They
/ signed by the President and
ansd by the Secretary of the
i Commissioners Of the Port OF
6s,rs, They shall be exempt
,In,ation, State, parish and mu-
md the tutors Of minors and Gu
i nterdicts shall be authorized to
4. funds in their hands in such
Thew may be registered and re-
tun registry under such rules and
lions as may be prescribed by said
4 Commissioners of the Port Of
Orleans and no registered bond
b negotiable. They shall be re-
on deposit with the State, or its
ID Or any Of its political subdlvl-
municipalities, in all cases, where
deposits of bonds are required OF
abbe made as security, with the
Hts officers, or any Of its politi-
divisions or municipalities.
inQ. Belt further enacted, etc.
Is soon as the Constitutional au-
hi the issuance of said bonds
lave been obtained, it shall BIZ
d the Board of Commissioner:
Pit New Orleans to cause sale
y besngrayed and executed. The
II Commissioners of the Port O
Orleans is hereby authorized anc
asd, on and after January !
exchange, at not more than pa
l'cned interest, so many of sait
Y 'smay be necessary to retire out.
obligations Of said Board, cou,
], Ra due at the date of exchange t.
athsd and Cancelled by said boart
delivery Of bonds; and said Boart
Il coy authorized and empowered t,
as'emalnder Of said bonds, in whole
D lah IN such manner, and upol
afHs and conditions, as by saiC
Y may be deemed advisable; pro
hat no sale shall be made by sal,
VA price which will net to tn
sS than par and accrued interest
y attached to said bonds, past du
'ane 81 delivery, shall be detache
an'eesby said board before de
1.-THE bonds.
~ o. Be it further enacted, etc.
us principal and interest of sal,
wall be paid by preference fror
asNeS Of the Board of Commission
Port Of New Orleans and a
' a0Iectble under the laws, a
a'aAg' shall be and are hereb
= secure said bonds and inter
60 event shall the charges i'm
z . said Board, under the law no,
! g reduced to an amount les
81, '''ary for the payment of tn
sod interest of said bonds; an
4 y Of Commissioners of the POI
'a :. as presently organize
a.alt dlminutiOn of existing terri
ViGtl0n, shall continue IN loc,.