The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-10-08

New Orleans and to collect the reve-
nues therefrom to provide for the pay
and the redemption of bonds. as pro-
vided for in this Act. the Board OF
Commissioners of the Port of New Or
leans is hereby authorized, empowered
to administer and operate said Public
Belt Railroad, to impose such charges
as it may fix and collect said revenues
and levy and collect the special tax
the same to the purposes of this Act.
and to that extent and for that purpose
only, and for such time as may be nee
essary to that end said Board Of Com
is hereby authorized to exercise all the
powers AMI is charged with all the du-
ties vested under this Act in the City
of New Orleans
Section 4. Be it further enacted. etc,
That in case there should be in any
year a deficiency in the revenues afore-
said to pay the full interest upon all of
said bonds outstanding, such deficiency
of interest shall be funded into bonds
of such denominations as may be nee
cssary and convenient. bearing the
same rate Of interest as the original
bonds. and having a term to run equal
to the balance OF the term of the origi-
nal bonds, hut subject to call at will
by the City OF New Orleans; and in
shall be stamped across their face I'm
terest Funding Bonds issued subject to
Immediate call" and they shall be pay
able out of the special tax of two (2)
on and after January 1, 1913. as here
matter provided Said interest funding
bonds shall have all the guarantees
and securities provided for the original
bonds in this Act for their payment
principal and interest.
In case the revenues OF the Public
Belt Railroad of the City of New Or
leans should not be sufficient to pro.
NIL 70 hn =,
tcrest on, or for the remeption annual
ly. on and after January 1, 1889, or any
of said bonds. as hereinabove set forth,
the redemption of said bonds shall be
postponed until January l, 1914, and
the City of New Orleans shall levy up
on all of the taxable property within
the present territorial limits of said
city special tax OF two (2) mills. be-
1913 the entire proceeds whereof shalt
be applied annually to the redemption
OF the bonds issued under this Act and
all interest that may be then or there.
after due thereon, and ali outstanding
interest funding bonds" until all Of
said bonds shall have been retired in
principal and interest. II any surplus
year OF Its levy shall exist, such SUR
plus shall be dedicated to works OF
public improvement to be designated by
the City of New Orleans.
That the City of New Orleans shall be
| and it is hereby authorized and en-
powered to expend the proceeds of said
bonds tor the construction and equip
nent OF. Public Belt Railroad System
in and for the City OF New Orleans. in.
Guiding tracks. sidings. switches. spurs,
crossovers and all appurtenances and
accessories thereto: the building Of
denotS. rOundhouses, warehouses,
sheds, statiors signals and all other
necessary structures incident to the
| construction and equipment of rail-
switch engines cars and other neces-
| sary rolling stock: for the payment of
| property purchased or appropriated
for the purpose of laying tracks. sid
or for the erection of necessary struc-
| lures and buildings incident to rail-
roads; for the purchase of existing
roadbeds. tracks, switches. sidings
| spurs crossovers, or for the eXpropria-
/ ton of the same; for the purchase Of
barges and tugboats and other proper
| ty Incident to the operation Of a barge
system; and generally for the purchase
and equipment of all property. movable
and inmovable necessary and proper
to construct and equip said public belt
railroad system, and as an incident
| thereto, Il barge system.
| Section 6. Be it further enacted. ETC.,
| That there shall be and there Is here
by irrevocably dedicated to the people
of the City of New Orleans for perpet-
lie Belt Railroad System. as the sans
has been heretofore, or may hereafter
be established by the City of New Or
leans. the title and use to which said
public, belt railroad system shalt be
and shall forever be in the people Of
the city of New Orleans.
That all laws servitudes, privileges
and rights in e favor OF the State Of
the people of. the City Of New Orleans,
| now existing in or on the lands or
property on or contiguous to the Mis-
lots r:y ~h1
unimpaircd until the full payment of
the principal and interest Of the bonds
to be issued under this Act.
Section T. Be it further enacted. ETC.,
struct. equip, maintain and operate said
Public Belt Railroad System in the City
of New Orleans, through and by means
of such board or commission, as may
have been or may be organized by the
City of New Orleans, the members of
| which shall be appointed by the Mayor
Of the City of New Orleans with the
consent of the Council, the powers. du-
ties and functions of which shall be
prescribed by the City of New Orleans.
The City of New Orleans shall always
have the power and authority to make
such changes in the location of the
Railroad system as may by said city
be deemed necessary or proper The
control administration, management
and supervision of the construction,
ment of the Public Belt Railroad of the
City of New Orleans shall be exclusive
" vested and remain in such board OF
commission, which shall always be sep
arate and distinct from that of any
railroad entering the City of New Or
leans, and no director. officer or en-
road shall ever be allowed to act as
member of said commission, or as ar
officer of the Public Belt Railroad OF
be employed by said Public Belt Rail-
i x,S~
be granted to any railroad company tc
control, manage. use or operate the
said Public Belt Railroad System, OF
any part the ceof, and said Public Bel,
the sole property OF the people of the
City Of New Orleans at all times and
shall in no way or manner ever be by
pothecatad or alienated, provided, how
Belt Railroad of the CRY Of New Or
leans. after the deduction of the ex
penses OF maintenance mi operation
shall be and remain pledged for thu
interest. the issue of which is hereir
authorized; to such exert as may b,
necessary under this Act.
Section g. Be it further enacted, etc.
That all the provisions of this Act shall
constitute a contract be len the hold
er of the bonds issued thereunder, tn,
State of Louisiana, the City of New
Orleans and the Board Of Commission
ers of the Port of New Orleans.
, Section 8. Be it further enacted, etc.
That at tho congressional election t,
be held in this State on the first Tues
, day, after the first Monday in tn,
month of November, 1908. the following
amendment to the Constitution of tn,
State of Louisiana shall be submittct
to the electors. to-wit:
r ~