The southern sentinel. (Winnfield, La.) 1883-1910, 1908-10-02

Port OF New nwered. on and after
- ,arv l. 1909. to eNchah ss,..st 40
nro,. than par and accrueu -" - npces-
many of said bonds as IaS hIiyations
s1ry Rnard- coupons past due at th
"a - excnange to be detacheu 49, -
ooaneeied by said Board DeIoIe harahv
ery OF bonds: and said bos Boa - sell the
.',na{nder of said bonds. IN Whoi ,,'.h
~ narf IN such manner. ana uP9 70, "a
terms and conditions, as % S .--ox,idcd
may be deemed auEIsai 10 said
liz liz - = price which will net 70 tue
Roard less tnan par ana acCI ~ hnnJs
esf coupons attached 10 salo 49, ~
past duesat the time OF ne, s,iS BOARD
be detached and Cancelled oy saiu
before delivery Of the bonds 80.
Soction 3 Be Il further enacted, cue;
That the principal and interest," oi sa
bonds shall be paid py pre- pre- ~ Commis-
sioners OF the Port of New OIlea rs
snd ali revenues collectible under I'M
laws. as now existing. shali pc ah pe.,d
hereby pledged to secure cure, snail the
CHARGES imposed by said Board. unaeI
the law now existing, be reduceu 10 a.
amount less th9n necessary Ut ~
payment of the prineipai anu ~ Com
missioners of the Port or New orleans
as presently organized and without al
mfnuation of existing territorial yu
risdiction. shall continue IN aesa ec-
cordance with this Act shall nave oesn
ma i'd in principal and interest; provo,
ed that the members OF said board snali
be appointed by the Governor supJect
to removal by the Governor. and the
Governor shall have power to fiji all
The interest on said bonds shall be
evidenced by coupons attaeheo Lneseuo'
er OF the State of Louisiana, on the
first days of July and January: ana
said Board shall place on deposit, on
or before April 1, 1909. and on OF
auent year. with the treasure OF the
State of Louisiana. TO the credit OF a
special account to be styled interest
nuaI interest on all bonds that may
have been delivered said treasurer u
hereby empowered and directed ana "
is made his duty. to pay any ana ali
presented by any holder thereof. In
the year 1924 and annually thereafter,
said Board SHALL In addition TO the
amount of the annual interest due on
the LIST OF July. place on deposit, on OF
before April /. with the Treasurer OF
the State of Louisiana. to the credit
of a special account to be styled Bond
Redemption Account. a sum OF one
hundred thousand dollars (s1oo. 00o.00).
and the said Treasurer Is hereby en-
powered and directed. and IL is made
his duty, to pay. on the LIST of July. OF
out OF said Bond Redemption Account.
one hundred (l0o) of said bonds In the
reverse order of their issue; and ali
bonds and coupons retired under this
Act shall be by said Treasurer duly
cancelled and delivered TO the Board of
Commissioners of the Port of New Or
leans. which shall receipt for same.
and which shall retain and paste the
same as vouchers. in book TO be by
II kept for that purpose. II shall be
the duty of said Treasurer to require
said deposits to be made as aforesaid.
and in case OF failure on the part OF
impose. under the law as now existing.
the charges for the use of said
wharves. landings. sheds and appur-
tenances thereto. or to collect the reve-
nues therefrom. in an amount suffi-
cient to provide for the payment of in
terest due or to become due. and the
redemption of bonds as provided In this
Act. said Treasurer is hereby empower
ed and directed. and II - made his duty
to impose said charges and collect SAID
revenues. and TO apply the same to the
PURPOSES OF this Act. and to that ex-
tent. and for that purpose only. and for
such time as may be necessary to that
end. the said Treasurer Is hereby au-
thorized TO exercise all the powers and
is charged with all the duties vested
under existing law in the Board of
leans.
Section 4. Be IL further enacted. etc,
That all of the provisions of this Act
shall constitute a contract between the
holder of the bonds issued Hereunder.
the State of louisiana, and the Board
OF Commissioners Of the Port OF New
Orleans
Section s. Be II further enacted. etc.
That the Board of Commissioners of
the Port of New Orleans shall. and IL
is hereby authorized and empowered to
expend the proceeds of said bonds for
the extension OF existing wharves. for
building new wharves. for erecting
sheds. for constructing roadways. and
other improvements: for the purchase
boats: for the payment of wharves or
other property purchased or expropri-
ated. and for the payment of obliga-
tons heretofore contracted and out
standing. provided that no private
property shall be taken without Just
and adequate compensation previously
paid.
on the 31st day of December of each
year. the said board shall furnish a de-
tailed account OF the receipts and ex-
penditures to the Governor of the
State; which report shall be published
once in the official journal Of the City
Section s. Be II further enacted. etc.
That at the Congressional election to
be held In this State on the first Tues
Ssy ,orio IAN the dirst Monday Of No.
to the Constitution of the State of
Louisiana shall be submitted to the
electors of the State. to-wit. The
Board OF Commissioners Of the Port of
New Orleans shall have power. and n
lhSll be its duty. to issue three million
live hundred thousand dollars (s35OO-
DoO.00) of bonds to be known as Port
commission Bonds for the purposes
ana under the provisions and condf-
lions set forth In the Act of the Leeis-
lature adopted to that end and for that
purpose at the regular session Of the
General Assembly of 1908. which said
Act Is hereby ratified and approved:
ana all provisions of the present Con-
stitution of the State in conflict with
the provisions of this Act. and with
mis- amendment are. to that extent and
Tor that purpose only. repealed
Section z. Be IL further enacted etc
That on the official ballots to he nssd
NJ said election shall be placed fhs
words: For the Port CommIssior
Bond Amendment" and the words.
Against the Port Commission Rond
Amendment" and each elector shall in
ficate his vote on the proposed amend
nent as provided by the general elec-
lion laws OF this State.
II. G. DUPRE,
speaker OF the House of Representative
p. NJ LAMBREMONT.
Lieutenant Governor and President Of |
the Senate.
Approved July 3. 1913
j. Y. SANDERS.
Governor of the State of Louisiana
A true copy. JOHN T. MICHEL.
Secretary of State