The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-09-24


Public Belt Railroad of the City of
New Orleans and to collect the reve-
nues therefrGm to provide for the pay
men Of due 81 or h to
vided for in this Act. the Board OF
Commissioners of the Port of New Or.
leans is hereby authorized. empowered
and directed, and it is made it's duty
to administer and operate said Public
Belt Railroad. to impose such charges
as it may fix and collect SAID revenues
and levy and collect the special tax
hereinafter provided for and to apply
the same to the purposes of this Act.
and to that extent and for that purpose
only and for such time as may be nee
essary to that end. said Board of Com
missioners of the Port of New Orleans
is hereby authorized to exercise all the
powers AMI is charged with all the du-
ties vested under this Act in the City
of New Orleans. =:
Section l. Be it further enacted. etc.,
That in case there should be in any
year a deficiency in the revenues afore.
said to pay the full interest, upon all OF
said bonds outstanding, such deficiency
of interest shall be funded into bonds
of such denominations as may be nee
essary and convenient, bearing the
same rate Of interest as the original
bonds and having term to run equal
| to the balance of the term of the origt-
nal bonds. hut subject to call at will
by the city of New Orleans, and in
snail he stamped across their face en-
! terest Funding Bonds issued subject to
! immediate call" and they shall be pay
| abte out OF the special tax OF two CD
mills per annum, which shall be levied
on and after January 1, 1913 as here
inafter provided. Said interest funding
bonds stall have all Tie ,lranties
bonds in this Act for their payment
principal and interest.
! IN case the revenues OF the Public
Belt Railroad of the City of New Or
! n at i)H RI n.
vide for the payment of the annual in
terest on, or for the femeption ANNUAL
~. on and after January 1, 1889, or any
of said bonds. as hereinabove set forth.
the redemption of said bonds shall be
postponed until January l. 1914, and
the City Of New Orleans shall levy up
III. present territorial limits of said
city !: speeiai tag ct two f2) mills, be-
| ginning with and inei0aIas the year
| 1913, the entire proceeds whereof snail
of the bonds issued under this Act and
all interest that may be then or there
after due thereon, and all outstanding
Interest funding bonds" until all Of
principal ard interest. IL .ay surplus
Of said two t2) mills tax in the last
year of it's levy shall exist, such sur
plus shall be dedicated to works of
public Improvement to be designated by
The City of New Orlea
| SssttDH 5, Be it further enacted. ETC..
That the cits u Sew Orleans shall be
powered to expend the proceeds OF said
bonds for the construction and equip
ment of Public Belt Railroad System
in and for the City of New Orleans. in
Guiding tracks. sidings, switches, spurs
crossovefs and all appurtenances and
depots. roundhouses. wafehsases
necessary structures incident to the
construction and equipment of rail-
roads. for the purchase Of locomotives.
switch engines, cars and other neces-
property purchased as appropriated
for the purpose of laying tracks, sid
inSs. switches, spurs. crossoyers. etc.,
or for the erection of necessary struc-
lures and buildings incident to rail-
roads: for the, purchase OF existing
roadbeds. tracks, switches. sidings
spurs. crossovers. or for the expfopfia-
ton of the same; for the purchase OF
barges and tugboats and other proper
ty incident to the operation of a barge
system, and generally for the purchase
and equipment of all property. movable
and immosahlG. necessary and proper
TO construct and equip said public belt
railroad system. and as an incident
thereto. a barge system.
Section e. Be it further enacted. etc,
That there shall be and there is here
by .irreTocably dedicated to the people
Of the City of New Orleans for perpet-
ual and exclusive public use said Pub
1
has been heretofore, or may hereafter
be established by the City of New Or
leans. the title and use to which said
public belt railroad system shall be
and shall forever be in the people OF
the City OF Nesr Orleans.
That all laws. servitudss, privileges
and rights in favor of the State OF
Louisiana. the City of New Orleans and
the people of the City of New Orleans
. now existing in or on the lands or
property on or contiguous to the Mis-
sissippf river shall continue TO exist
, unimpaired until the full payment Of
the principal and interest Of the bonds
. to be issued under this Act
, Section Z. Re it further enacted, etc.
That the City of New Orleans shall con-
. struct equip, maintain and operate said
: Public Belt Railroad System in the City
, of New Orleans, through and by means
of such board or commission, as may
City OF New Orleans, the members OF
! which shall be appointed by the Mayor
; of the City of New Orleans. with the
!. consent of the Council. the powers, du-
, ties and functions of which shall be
|. prescribed by the City of New Orleans
. The City of New Orleans shall always
, have the power and authority to make
: such changes in the location OF the
tracks and roadbed of the Public Belt
Railroad System as may by said city
be deemed necessary or proper. The
i, control administration. management
, AMI supervision of the construction
maintenance, operation and develop.
!, mcnt Of the Public Belt Railroad of the
{ City Of New Orleans shall be exclusive
" vested and remain in such board OF
commission. which shall always be sep.
arate and distinct from that of any
, | railroad entering the City of New Or.
j leans. and no director, officer or EN-.
: plc"ee Of amy State or interstate rail
road shall ever be allowed to act as
g member of said commission. or as ar
4 officer Of the Public Belt Railroad. OF
0 be employed by said Public Belt Rail.
e T0nI 0r ch.,l
be granted to any railroad company tt
! control. manage. use or operate The
s said Public Belt Railroad system. o.
(. any part thereof, and said Public Belt
j Railroad System shall be and remain
3 the sole property of the people Of the
Y City of New Orleans at all times. and
), shall IN no way or manner ever be by
: potheeatod or alienated. provided, how
;, ever. that the revenues OF said Publi
= Belt Railroad of the CT !; of New Or
leans. after the deduction of the ex
! penSes OF maintenance MI operation
= ! shall be and remain pledged for tn
payment Of the bonds il, principal an,
> interest, the issue, OF which is herei,
necessary under this Act
: Section 8. Be 1t further enacted, etc
That all the provisions of this Act shall
;, constitute contract be " zen the hold
. er of the bonds issued hereunder. tn
Orleans and the Board Of Commission
ers of the Port Of New Orleans.
; Section 8. Be it further enacted etc
u That at the congressional election t.
he held in this state on the first Tues
: day. after the first Monday in tn
: month of November. 1865. the foilowin:
amendment to the Constitution of tn
State Of Louisiana shall be submitte,
/ to the electors, to-wit:
| T n |