Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1908-10-02
numbered from s,oo1 to 1000, both

AAOh OSOVI " WV, UOtu
inclusive.
They shall be payable in lawful
honey OF the United States, with
eml-annual interest coupons attach
~, due July l and January 1. They
nan be signed by the Mayor of the
jity OF New Orleans and counter
igned by the Comptroller and the
treasurer of the City of New Or
cans. They shall be exempt from
III taxation, State. parish and mu-
licipal, and the tutors OF minors and
;urators of interdicts shall be au-
horlZed to invest all funds in their
lands In such bonds. They may be
registered and released from regis
,ry under such rules and regulations
vs. may be prescribed by the City of
New Orleans, and no registered bond
snail be negotiable. They shall he
received on deposit with the State
II It's officers or any OF its political
SUBDIVISIONS or municipalities in al,
Eases where, by law, deposits of
oonds are allowed or required to be
maze, as security with the State. or
us omcers, or with any of its poIiti-
cal SUBDIVISIONS or municipalities.
Section 2. Be it further enacted,
etc., That as soon as constitutional
authority for the issuance of said
bonds shall have been obtained, the
City of New Orleans shall be author
lied to cause said bonds to be en-
graved and executed. The City of
New Orleans is hereby authorized
and empowered, on and after .Janu-
airy l, 1909, to sell said bonds, at
such times and in such numbers and
amounts, and upon such terms and
conditions as the City of New Or
leans may deem advisable, provided
that no sale shall be made by said
city, except upon sealed proposals to
be submitted to said city after ad-
vertisement for the same shall be
had for thirty 500 consecutive days
in one or more daily newspaper or
newspapers of the cities of New York
and New Orleans respectively, and
provided that no sale shall be made
by said city at 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 deliv-
cry, shall be detached and Cancelled
by said city before delivery of the
bonds.
Section 8. Be it further enacted
etc., That the principal and interest
or said bonds shall be paid by pref
erence from the revenues of the Pub
lie Belt Railroad of the City of New
Orleans, after deducting the expenses
OF maintenance and operation, and
all Public Belt revenues collectible
under existing laws or ordinances, or
amendments thereto, and all future
Public Belt Railroad revenues, after
deducting the expenses of mainte-
nance and operation, are hereby
pledged to secure said bonds and in
terest. The interest on said bonds
shall be evidenced by coupons at
tached thereto, payable semi-annual-
ly by the Treasurer of the City of
New Orleans, on the first days of
July and January, and the City of
New Orleans shall appropriate on or
before the first days of April and
october, 1909. and annually thereaf-
ter, to provide for the payment Of
the semi-annual interest due July I
and January l of each subsequent
year. out of the revenues of the Pub
~ |SAb AhdiAlOdu vi lu6 lily OIL New
Orleans, after deducting the expenses
or maintenance and operation, which
appropriations shall be credited on
the books of the Treasurer of the
City of New Orleans, to a special
account, to be styled Public Belt
Railroad Bond Interest Account"
amounts equal to the semi-annual
interest on all bonds that may have
been delivered. The Treasurer of
the City Of New Orleans is hereby
empowered and directed, and it is
made his duty, to pay any and all
such coupons that may be due when
presented by any holder thereof.
In the year 1899, and annually
thereafter, the City of New Or
leans 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 Gay of April. out of the reve-
nue.; OF tue r ubiic Belt Railroad Of
the City OF New Orleans. after de-
Quoting the expenses of maintenance
and operation, which appropriations
shall be credited on the books of the
Treasurer of the City of New Orleans
" q SPCOiGi aCCOuut Uc sly
lie Belt Railroad Bond redemption
Account" the sum of one hundred
thousand ($100,00O.00) dollars, and
the said Treasurer is hereby empow-
cred and directed, 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 redemp-
ton account, one hundred thousand
($100,000.00) dollars of said bonds,
in the reverse order of their issue;
and all bonds and coupons retired
under this Act shall be by said Treas
urer duly Cancelled and be pasted as
vouchers in a book to be by said
Treasurer kept for that purpose.
In case of failure on the part of
the City of New Orleans to make said
appropriations at the times herein
fixed and to administer and operate
said Public Belt Railroad of the City
of New Orleans, and to collect the
revenues therefrom to provide for
the payment of interest due or to be-
come due, and the redemption of
bonds, as provided for in this Act,
the Board of Commissioners of the
Port of New Orleans is hereby au-
thorized, empowered and directed,
and 1t is made its duty to administer
and operate said Public Belt Rail-
road, to impose such charges as 1t
may fix and collect said revenues and
levy and collect the special tax here
matter provided for and to apply
the same to the purposes of this Act,
and to that extent and for that pur-
pose only, and for such time as may
be necessary to that end. said Board