The southern sentinel. (Winnfield, La.) 1883-1910, 1908-10-09
ACT No. 17e.
House Bill No. lss. By Mr.. Barrett

House Bill No. 1873 BY Mr.. Barrett.
AN ACT
To authorize the City of New Orleans
TO issue two million (s2, oct ,00v) dol
lars of five (5) per cent bonds. which
shall be exempt from taxation; to
vide for the payment Of the principal
and interest OF said bonds; to pi o, ide
for the disposition Of the proceeds
theresf. through such Publ: Belt
New Orleans may have heretofore or
ganixed. or may hereafter organize.
the members of which shall he APP
pointed by the Mayor Of the City of
New Orleans. and the powers. duties
and functions OF which shall be pre-
scribed by the City of New Orleans;
to define the powers and duties Of the
City Of New Orleans and the Board of
Commissioners Of the Port of New
Orleans In relation thereto, and to
submit to the people of the State of
Louisiana an amendment to the Con-
stteItion of the State Of Louisiana
authorixing the issue OF said bonds
and ratffyfng the provisions of this
Section I. Be 1t enacted by the Gen.
eral Assembly of the State OF louisiana,
two-thirds of all the members elected
to each House concuyrtug. That, subject
State Of Louisiana. by an amendment
to the Constitution Of the State, herein
after Submitted to them, the City of
New 0rleans r. hereby authorized and
coed fwo million (sa.oee. 0oo. eo) dollars
In amount, to be dated January /, 1908,
bearing five t5) per cent per annum
interest, payable semi-annually. the
principai OF which shall be payable at
any Time between July /. 1899. and
July i, 1853.
Said bonds shall be drawn payable to
oearef. and shall be styled: Public
Dali n
Orleans" They shall be of the denomi-
natiors and be numbered as follows. to-
Five thousand ts.ooo) of one hundred
Ssloo;oo1 dollars each, numbered from
One thousand Q.ooo) of five hundred
(9Soo.o0) dollars each. numbered from
s0o1 TO 5000. both inclusive.
One thousand Q.eool of one thousand
(S1.ooo.oo) dollars each. numbered from
so01 to 1000. both inclusive.
They shall be payable In lawful mon
ey Of the United States. with semi-an-
nual interest coupons attached. due
signed by the Mayor sf the city Of New
Orleans and countersigned by the
Comptroller and the Treasurer of the
City OF New Orleans They shall be ex-
and municipal. and the tutors Of mi
nors and curators OF fnterdicts shall be
authorized to invese all funds In their
hands In such bonds. They may be
registered and rele used from registry
under such rules and regulations as
may be prescribed Nv the City of New
Orleans. and no reg stored bond shall
be negotiable. They shall perceived
on deposit with the state or its officers
or municipalities In all cases where. BY
law, deposits OF bonds are allowed or
required to be made, a. security with
the State. or its officers. or with any of
It's political subdivisions or municipal
tiles
Section Q. Be II further enacted. etc,
That az soon a. constitutional author
ity for the issuance Of said bonds shall
have been obtained. the City Of New
Orleans shall be authorized to cause
said bonds to be engraved and execute
ed. The City Of New Orleans Is hereby
authorized and empowered. on and at
ter January 1. 1908. to sell said bonds.
At such times and In such numbers and
amounts. and upon such terms ana con-
dttions ~ the City Of New Orleans may
deem advisable. provided that no sale
shall be made by aaid city. except upon
said city after advertisement for the
same shall be had for thirty (30) con-
secutfve days In one or more daily
or newspapers OF the cities
Of New York and New Orleans. respec-
be made by said city n. q price less
than par and accrued interest. the city
20 have always the right to reject any
AND All bids; Coupons attached to said
shall be detached and Cancelled by said
city before delivery Of the bonds.
Section ). Be o. further enacted. etc.
That the urincipal and interest Of said
honda shall be paid by preference from
the revenues of the Public Belt Rail-
road OF the City OF New Orleans, after
the expenses Of maintenance
md operation. ard all Public Belt rev.
ans L.
or ordinances or amendments thereto.
and NIL future Public Belt Railroad
revenues. after dedur ding the expenses
n mainteuance and operation- are
ferebv pledged to secure said bonds
md interest The Interest on said bonds
snail De evidenced by coupons attached
hereto. payable seEi-annus1ly bv the
Treasurer OF the City ~ New Orleans,
On the urst days OF July and January.
0Y0II11&4 - - $500 IT, 49, 49,