The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-08-27

pealed''
section 5. Be it further enacted, and
resolved. etc. That on the official bal
lots to be used at said election shail De
placed the words:
For the additi nal amendment OF the
City of New Orleans Public fHtEfoEf-
ment Bond amendment" and the Wofds.
Against the additional amendment OF
the City of New Orleans Public I'm.
provemcnt Bond amendment"
And each elector shall Indicate his
vote on the proposed amendment as
provided in the gen'rai "l"cti i,,,,i iaws OF
Lieutenant Governor ind President OF
H. c. puPRE.
Speaker of the H"us" of Representatives.
Approyed July End. 1908.
j. Y. SANDERS.
Governor of TIL" State of Louisiana
A true copy JOHN 7: MICHEL
Secretary Of State
ACT No. 17o
House Bill No. Ia; BY Mr.. Barrett
AN ACT
To authorize the City at New Orleans
to issue TWO million ($2.oUt 1000 dol
lars of five 60 per cent bonls. which
shall be exempt from taXation TO
provide for the sale thereof. 10 pro-
vide for the payment of the principal
and interest of said bonds. to pIo, ide
thereof through such Publ; Belt
Railroad Commission as the city of
New Orleans may have heretofore or
ganized. or may hereafter organize,
pointed by the Mayor of the City of
New Orleans. and the powers. duties
and functions Of which shall be pre-
scrbed by the CITY OF New Orleans;
to define the powers and autias Of the
City of New Orleans and the lin:,ta OF
Commissioners Of the Port of New
Orleans in relation thereto. and to
submit to the people of the State OF
Louisiana in amendment to the Con-
Stitution OF the State of Louisiana
authorizing tn. tissue Of said bonds
and ratifying the provlaiohs If this
Act.
Section l. Be it enacted by the GEN
eral AsSe mbly of the State of Louisiana.
to each House cOncurring. That subject
to the ratification of the people of the
State of Louisiana. hy ~ amendment
to the Constitution of the State herein
after submitted to them. the City of
New Orleans is hereby authorized and
empowered to issue bonds not To ex-
coed two million t$2.000GnoG1) dollars
in amount. to be dated January |. 1903.
interest. payable semi-annually. the
principal Of which shall be payable at
any time between July l. 1899. and
July l. 1863.
Said bonds shall be drawn PAYABLE to
bearer, and shall be styled: .sPublic
Belt Railroad Bonds of the City of New
Orieans.' They shall be of the denomi
matte. and be numbered as follows. to-
wit.
Five thousand (5.O0o) of one hundred
tslGa.s0) dollars each. numbered from
l to 5000, both inclusive.
One thousand I.000) of five hundred
ts5on.e0p dollars each. numbered from
lae1 To 5000. both inclusive.
I In, 4 of n
(s1. nb9.0n) dollars eath. numbered from
soa1 to 1000. both inclusive.
They shall be payable in lawful mon
ey of the United States. with srmi-an-
nual interest coupons attached. due
July l and January l. They shall be
signed by the Mayor Of the City Of New
Orleans and countersigned by the
Comptroller and the Treasurer of the
empt from all taxation. State. parish
and municipal and the tutors of mi
nnrs ard curators of interdicts shall be
authorized to invest ALI funds in their
hands in such bonds. They may be
registered and rele lscd from registry
under such rules and regulations as
may be prescribed ~ the City of New
Orleans. and no reg stored bond shall
be negotiable. they shall be received
on deposit with the state or it's officers
or any of its politica! subdivisions
or municipalities in all eases where. by
law, deposits of bonds are allowed or
required to be made. security with
the State or it's officers. or with any of
its political subdivisions or municipal
tiles.
Section 9 Be 1t further enacted. etc.
That soon as constitutional author
ity for the issuance of said bonds shall
have been obtained. the City OF New
Orleans shall be authorized to cause
said bonds to be engraved and eXecut-
ed The City Of New Orleans is hereby
authorized and empowered. on and at
4
at such times and in such numbers and
amounts. and upon such terms and con-
ditions us the City of New Orleans may
deem advisable. provided that no sale
shall be made by said city. except upon
sealed proposals to h" submitted to
said city after advert cement for the
same shall be had for thirty t30) con-
Secutive days in one or more daily
newspaper or newspapers of the cities
OF New York and New Orleans. reSpec-
lively. and provided that no sale shall
be made by said city Il IL price less
than par and accrued interest. the city
to have always the right to reject any
and all bids. Coupons attached to said
bonds. past due at the time of delivery.
shall be detached and cancelled by said
city before deliver, of the bonds.
Section 3. r" it further enacted. etc
That the principal and interest of said
bonds shall b" Daid bv preference from
the revenues Of the Public Belt Rail
road of the CITY of Now Orleans. after
dednctino the EXPENSES of maintenance
and operation. and all Public Belt rev.
enueS collc"tihle under twisting laws
or ordinances. or amendments thereto
and all future Public Eelt Railroad
revenues. after deduc ting the expenses
of maintenance and oneration. are
and interest. The interest on said bonds
shall be evidenced hv coupons attached
ih:t Ito. payable Semi-tnnually by the
Treasurer Of the ci.y of View Orleans,
on me first days OF July and January,
and the City of Now Orleans shall ap-
propriate on or before the first days
of April and Octnb'r 1a1a. and annual
lE thereafter. to provide for the pay
ment of the semi annual interest due
July l and Januar! of each SUISSE
qHeRt year. out of the revenues of the
Public Belt Railroad of the City of New
Orleans. after deducting the expenses
OF maintenance and operation. which
appropriations shall be credited on the
New Orleans. to /; special account to be
styled Public Belt Railroad Bond In
terest Account. amounts equal to the
seml-annual interest on all bonds tina.
may have been delivered. The Treasure
er of the City of New Orleans is hereby
empowered and directed and it is made
MS duty. to pay any and all such cou-
pons that may be due when presented
by any holder thereof
In the year 1889. and annually there
after the City of New Orleans. SHALL
IN addition to the amount of the semi
annual interest due on the first of July
and january of each year appropriate
on or before the first day of April out
OF the revenues of the Public Belt Rail-
road of the City of New Orleans. after
deducting the expenses of maintenance
and operation. which appropriations
shall be credited on the books of the
Treasurer of the City of New Orleans
TO special acc ount to be STYLED Pub
lie Belt Railroad Bond Redcmption Ac-
count. the sun: of one hundred thous-
and ts1on.006.0O dollars. and the said
treasurer is hereby empowered and di-
rected, and it is made his duty to pay
on the first day of July of the year
1899. and annually thereafter. out OF
said bond re lemption account. one
hundred thousand ts1no. 400 0el dollars
NJ said bonds in the reNcrse order OF