St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-08-29
ACT NO. $50.
ACT NO. $50.
House Bill No. 1872 By Mr.. Barrett.


House Bill No. 152. By Mr.. Barrett.
To authorize the Board of Commissions of the
Port of New Orleans to issue three
million, five hundred thousand i$3--
500 100000 of five 81 per cent bonds,
which shall be exempt from taxation; to
thorize the exchange of so many of said
bonds as may be necessary to retire valid
outstanding obligations of said board and to
provide for the sale of the remainder thereof:
to provide for the payment of the principal
and interest of said bonds and the disposi-
ton of the proceeds thereof; to define the
powers and duties of the Board of Commits
sioners of the Port of New Orleans and the
Treasurer of the State of Louisiana in Eela-
ton thereto; to continue said board in exts-
tence until the payment Of said bonds; and
to submit to the people amendment to the
Constitution of the State of Louisiana au-
thorizing the issue of said bonds and ratify
ing the provisions Of this Act.
Whereas. the Board of Commissions of the
Port of New Orleans. created under the pro-
visions of Act 20 of the General Assembly
of the year 1896, amended by Act No. 36
of the General Assembly of the year 1900,
is vested with the administration OF the pub
lie wharves and landings of the port and
harbor of New Orleans. and charged with
the duty of extending, improving and main
tanning the same and the appurtenances there
to; and
Whereas. said Board of Commissioners of the
Port of New Orleans assumed the duties i'm
posed on it by law, at the termination of
the lease between the City of New Orleans
and the Louisiana Construction & Improve
ment Company, on the 10Th day OF May,
1901; and
Whereas said Board out OF its revenues has,
since said date. practically rebuilt the en-
tire wharf system received from said Lou1s1-
ana Construction & Improvement Company,
built new wharves, erected steel sheds on
the wharves and landings for the prstec-
ton of merchandise in transit construct
ed paved roadways and approaches thereto,
provided suitable dredge and tugboats for
dredging and fire protection purposes; has
maintained sufficient depth OF water and
provided for the lighting and policing OF
the wharves, landings, sheds and appur-
teances thereto: and
Whereas, on account of the growing commerce
of the port and harbor of New Orleans 1t is
necessary that additional wharVes DC
constructed and extensive engagements ano
improvements of the system OF Wharves
landings, sheds and appurtenanees be made
so that the facilities for the handling OF
export and import cargoes in the port ant
harbor of New Orleans will be equal If not
superior, to similar facilities at any South
Atlantic or Gulf port; ana
Whereas, funds cannot be made available fol
these purposes except by the issue of bonds
and
Whereas the said Board of Commissioners q
the Port of New Orleans is assured that pro
vision can safely be made from its revenues
for the payment of the interest annually
and the payment Of the principal at ma
turity, of three million five hundred thousan'
dollars ($3.5oo 00OO0) of five per cent bonds
and
Whereas, legislation providing for the issue O
| said bonds and recommending the submission
| to the people of an amendment to the Con
| stitution of the State of Louisiana authorfz
| ing the issuance of said bonds and ratffyinl
the provisions of this Act, is recommended
by the Port Investigation Commission, createt
by Act No. Of the Extra Session OF 1907
| therefore:
| Section /. Be it enacted by the General As
| sembly of the State of Louisiana. two-third
| OF all the members elected to each Heus
concurriDg:
That. subject to the ratification of the peopl
| of the State of Louisiana, by the adoption o
| an amendment to the Constitution Of the State
| hereinafter submitted to them, the Board o
| Commissioners of the Port of New Orleans
| created by Act No. 40 of the General As
| sembly of 1896, as amended by Act No. SO 0
the General Assembly OF the year 1900, is here
| by authorized and empowered and it shall b
| its duty, to issue bonds not to exceed thre
million five hundred Thousand dollars ($35Oo
000.00) in amount, dated January /, 1905