The southern sentinel. (Winnfield, La.) 1883-1910, 1908-10-09

PoIt Oh uncovered. on and at.e,
To-, gary /. 1903. to exchshse $50, so
NOR. than par and accrueu he neces-
monv of said bonds as may pS a,fons
inanS 80 retire outstanding oousa.iohs
~ said Board. coupons pas and
date OF exchange 10 pc psara deIiy-
cancelled by SAID iaid BOARD is hereby
ts,hori1ed and empowered 10 ser IL
remainder of said bonds, IN ,,man such
Ia mart in such manner anu ~ o. 81
inns and conditions. as py saIo p 'S,taS
- IA. deemed advisable: pfoNiusi
g., M sale shall be nlaoe oy sa 49,
Roard at "A price when VIII n tn,ar
BOARD less than par ana acc I hnnds
-, roupons attached TO SAID oohuS;;
nost dne AT the time of delivery shtl,
he detached and cancelled by saio Doai"
before delivery e the bonds. ,sa etc
Ssction & BE Il further enacted, eeS Ia
,rtot The principal and interest OF sdIo
sends shall be paid by preference Ironi
the revenues of the Board OF SS,ns
sioners of the Port OF New Orlea us
laws as now existing. shall be ana are
hereby pledged to secure salo
and interest In no event snan AZ AZ
charges imposed by said boaro. ~, 90
the law now existing. be reduced 10 Al
amount less thru necessary TOT tne
payment of the principal ana InteIes'
of said bonds: and the Board OF COM
missioners of thePort OF new ,,snn, AZ.
minuation of existing territorial Ju-
risdiction. shall continue In iesal ek
istence until all the bonds issued IN ac-
cordance with this Act shall have been
Maid in principal and interest; provid-
ed that the members OF SAID BOARD snali
be appointed by the Governor supJect
to removal by the Governor. anu the
Governor shall nave power 10 LII al
The interest on 500 bonds shall be
evidenced by coupons" attached thereto
payable semi-annually. oy the IreasuI
IL fafa nf
first days of July and January: ana
said Board shall place on deposit on
or before April 1, 1903. and on or De-
fore the first of April OF every suose
State of Louisiana, TO the credit OF
special account to be. styled Interest
Account" an amount equal 10 the an
nuaI interest on all bonds that may
have been delivered Said Treasurer Is
hereby empowered and directed and IL
Is made his duty. TO pay any ana all
such coupons that may De que "hgn
the year 1924. and annually thereafter
said Board shall. In addition to the
amount of the annual interest due on
before April 1. with the Treasurer of
the State of louisiana, to the credit
of n special account to be styled Bond
Redemption Account sum OF one
and the said Treasurer Is hereby en-
powered and directed. and IL Is mace
his duty. to pay. on the LIST OF July. OF
the year 1924. and annually thereafter,
out of said Bond Redemption Account.
one hundred Cl0O) OF said bonds In the
reverse order of their issue; and All
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 Tor same,
and which shall retain ana paste the
same as vouchers. in a book to be by
IL 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
said Board to make said deposits. or to
impose. under the law as now existing.
the charges for the use of said
wharves. landings. sheds and appur-
tenances thereto. or 10 collect the reve-
nues therefrom. in an amount suffi-
cient to provide for the payment OF in
terest due or 70 become due. apd the
redemption of bonds as provided In this
ed and directed. and IL Is 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
Commissioners OF the Port Of New Or
leans.
II ~
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 5. Be IL 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- foi
building new wharves. for erecting
sheds. for constructing roadways. and
other improvements. for the purchase
OF suitable dredges. barges and tug
boats; for the payment of wharves or
ated. and for the payment of obliga-
lions heretofore contracted and out
standing; provided that no private
property shall be taken without just
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
of New Orleans.
Section s. Be it further enacted. etc.
That at the Congressional election to
be held IN this State on the first Tues
day following the first Monday OF No
TO the Constitution OF the State of
Louisiana shall be submitted to the
electors Of the State. to-wit: The
Roar1 OF Commissioners of the Port OF
New Orleans shall have power. and A
snail be its duty. to issue three million
five hundred thousand dollars ga 500
0o0.O0l of bonds to be known as PORT
Commission Bonds for the purposes
and under the provisions and condi-
lions set forth In the Act of .he Legis-
iature 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:
and all provisicns OF the present Con
stitution of the State In conflict with
the provisions os this Act. and with
this amendment are. to that extent ana
Tor that purpose only. repealed.
Section Z. Be IL further enacted etc
That. on the official ballots to be used
at said election shall be placed the
words: For the Port Commission
Bond Amendment" and the word..
Against the Port Commission Ronj
Amendment. and each electo- shall in
dictate his vote on the proposed amend
ment as provided by the geneksI eIec-
ton laws of this State
II. G. DUPRE,
speaker or the House OF Representa- ss-es /
p. NJ LAMBREMONTN
Lieutenant Governor and President ~
the Senate N
Approved July 8, 1908
]. Y. SANDERS.
Governor of the State of Louisiana
A true copy. JOHN T. MICHEL.