The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1908-10-24

or one nunQreQ thousand collars - lUU,- |
000.00), and the said treasurer is here
by empowered and directed, and it |
is made his duty, to pay, on the lst of
july of the year 1924, and annually
thereafter, out of said Bond Redemption
Account, one hundred (l00)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 Commits
sioners Of the Port of New Orleans, which
shall receipt for same, and which shall
retain and paste the same as vouchers
in book to be by it kept for that pur
pose. 1t shall be the duty of said Treas
urer 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 exist
ing, the charges for the use of said
Wharves, landings, sheds and appurte-
nances thereto or to collect the revenues
therefrom, in an amount sufficient to
provide for the payment of interest due
or to become due, and the redemption of
bonds as provided in this Act, said Treas
urer is hereby empowered and directed,
and it is made his duty to impose said
charges and collect said revenues. and to
apply the same to the purposes of this
Act, and tothat extent, and for that pur-
pose only, and for such time as may be
necessary to that end, the said Treas
urer is hereby authorized 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 Orleans.
Section 4. Be it 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 Commits
sioners of the Port Of New Orleans.
Section S. Be it further enacted, ETC.,
That the Board of Commissioners of the
Port of New Orleans shall, and is hereby
authorized and empowered to eXpend the
proceeds of said bonds for the extern
sion of existing Wharves, for building new
wharves, for erecting sheds, for construct
ing roadways, and other Improvements;
for the purchase of suitable dredges, bar
ges and tugboats; for the payment of
wharVes or other property purchased or
appropriated, and for The payment of OBJ
legations heretofore contracted and out
standing; provided that no private prop
= erty shall be taken without just and ade-
quate compensation previously paid.
On the thirty day of December Of
each year, the said Board shall furnish a
detailed account of the receipts and eX-
y penditures to the Governor of the State
which report shall be published once If
the fficial journal of the City of New Orle-
ans.
Section 6. Be it further enacted, etc.
That at the Congressional election to bt
: held in this State on the first Tuesday fol-
y, lowing the first Monday in November
|
1903, the following amendment to thu
> Constitution of the State of Louisian;
-, shall be submitted to the electors of tn
State, to wit: The Board of Commits
sioners of the Port of New Orleans shall
have power, and it shall be its duty, t.
issue three million five hundred THOUSAND
= dollars (S5,500,000) of bonds to b
known as Port Commission Bonds, 70
the purposes and under the provision
adopted to that end and for that purpos
= at the regular session of the Genera
~ Assembly of 1908, which said Act
a hereby ratified and approved. and a
provisions of the present Constitution c
. the State in conflict with the provision
of this Act and with this amendment are
-, to that extent and for that purpose only
repealed"
Section z. Be it further enacted, etc
That, on the official ballots to be used
~ said election shall be placed the words
~ "For the Port Commission Bond Amend
" ment," and the words: Against the POI
y Commission Bond Amendment" an
-, each elector shall indicate his vote on tn
-, proposed amendment as provided by tn
= general election laws of this State.
H. G. DUPRE,
-, Speaker Of the House of Representative
=" Pm. LAMBREMONT,
~ Lieutenant Governor and President
- the Senate.
~ Approved July 8, 1908
~ j. Y. SANDERS,
:; Governor of the State of Louisiana,
ri A true Copy.