St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-09-19
ACT NO. $50.
By Mr.. Barrett.

House Bill No. 1872. By Mr. Barrett
To authorize the Board of COMMISSIONS of the
Port of New Orleans to issue three
million, FIVE hundred thousand ($S-
5OOOO.O0) of five (5) per cent bonds
which shall be exempt from taxation; to au-
thorize the exchange of 30 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 DISPOSE
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 rela-
ton thereto; to continue said board in exis-
tence until the payment of said bonds; and
to submit to the people amendment to the
Constitution Of the State Of Louisiana au-
thoriZinR 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 1895, amended by Act No. SO
of the General Assembly of the year 1000.
ig 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 1t by law, at the termination Of
the lease between the City of New Orleans
and the Louisiana Construction & Improve
ment Company. on the 29th day of May,
1901; and
Whereas, said Board out OF It's revenues has,
since said date, practically rebuilt the en-
tire wharf system received from said ,LOuiSi-
ana Construction & Improvement Company.
built new wharves, erected steel sheds on
the wharves and landings for the protec-
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 depIn 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
now necessary that additional wharves be
constructed and extensive engagements and
improvements of the system of wharves.
landings sheds and appurtenances be made
SO that the facilities for the handling of
export and import cargoes in the port and
harbor of New Orleans will be equal If not
superior, to similar facilities at any South
Atlantic or Gulf port; and
whereas. funds cannot be made available for
these purposes except by the issue of bonds;
and
Whereas. the said Board of Commissioners OF
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 fye hundred thousand
dollars (S3, 500 100000 of five per cent bonds
and
whereas, legislation providing for the issue OF
said bonds and recommending the submission
TO the people of an amendment to the Con
stitution of the State of Louisiana authoriz
ing the issuance of said bonds and ratifyins
the provisions of this Act, is recommended
by the Port Investigation Commission, created
by Act No. of the Extra Session of 1907
therefore:
Section 1. Be it enacted by the General As
senbIy of the State of Louisiana, two-thirds
of all the members elected to each House
concurring:
That subject to the ratification of the people
of tbe state of Louisiana, by the adoption OF
an amendment to the Constitution of the State
hereinafter submitted to them, the Board OF
commissioners of the Port of New Orleans
created by Act No. 20 of the General As
senbly of 1896 as amended by Act No. SO OF
the General Assembly of the year 1900 is here
by authorized and empowered. and it shall bt
its duty, to issue bonds not to exceed tsret
million FIVE hundred Thousand dollars ($3,5O0
0o0.0o) in amount dated January !. 1909