The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-09-17

Public Belt Railroad of the City OF
New Orleans and to collect the reve-
nues therefr0m to provide for the pay
ment of interest due or to become due
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
and directed, and it is made its duty
to administer and operate said Public
as it may fix and collect said revenues
and levy and collect the special tax
hereinafter provided for and to apply
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
missioners Of the Port of New Orleans
is hereby authorized to exercise all the
powers and 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 deficiency in the revenues afore-
said to pay the full interest upon all OF
said bonds outstanding, such deficiency
of interest shall he funded into bonds
of such denominations as may be nee
essary 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, but subject to call at will
by the City of New Orleans; and in
case any such bonds are issued they
shall be stamped across their face en-
/ tcfeS[ FuEhlnE RoildS issued subject ia
| immediate call" ana they shall he pay
able out of the special tax of two Cd
mills Der annum. which shall be levied
on and after January l, 1919, as here.
bonds shall have all the GUARANTEES
and securities provided for the original
bonds in this Act for their payment
/ principal and interest.
In .ass the revenues of the Public
Belt Railroad Of the tity OF New OT1
leans should not be sufficient to pro.
vide for the payment of the annual in
terest on, or for the remeption annual
lY. on and after January l, 1889. or any
of said bonds, as hereinabove set forth,
the redemption of said bonds shall be
pastponsd until January /, 1914, and
the city OF New Orleans shall levy up
on all of the taxable psopsity within
the present territorial limits of said
, city Il special tax of two 90 mills. be-
ginning with and including the year
1913 the entire proceeds whereof shall
be applied annually to the redemption
or tha bonds issued under this Act and
all interest that may be then or there
after due ,hetesr. and all outstanding
interest funding bonush tntii All af
said bonds shall have been retired In
principal and interest II any surplus
of said two CD mills tax in the last
year of it's levy shall exist such sur
plus shall be dedicated to works of
public in Broyeinent TO be designated by
the City of New ORR cans.
Section 5. BE it further enacted, etc.
and it is hereby authorized and em-
powered to expend the proceeds Of said
bonds for the construction and equip
ment of a Public Belt Railroad System
III ard for the City OF New Orleans. in
cludins tracks, sidings. switches. spurs,
crossovers and all appurtenances and
accessories thereto. the building Of
depots, roundhouscs, warehouses.
sheds. statiors. signals and all other
necessary structures incident to the
construction and equipment of rail-
roada for the purchase of locomotives.
switch engines ears and other neees-
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-
tures and buildings incident to rail-
roads; for the purchase of existing
rGadbeds. tracks, switches. sidings.
spurs. croSsoVers. or for the expropria=
tion 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 fmm6vable, necessary and proper
to construct ana equip said public belt
railroad system. and as IN incident
thereto, a barge system.
Section G. 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-
ual and exclusive public use said Pub
lie Belt Railroad System, as the sauna
has been heretofore. or may hereafter
be established by the City of New Or.
| leans. the title and use 10 which said
public belt railroad system shall be
I and -i shallo OF fANs1e'Wv Orleans.
That All laws. servitudes, privileges
and rights in favor of the State OF
Louisiana. the City of New Orleans and
the people of the City of New Orleans
row existing in or on the lands or
property on or contiguous to the Mis-
sissippi river shall continue TO exist
} unimpaired until the fun payment OF
, the principal and interest Of the bonds
to be issued under this Act.
Section Z. Re it further enacted, etc.
That the City OF New Orleans shall con
, strrct. 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
5 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.
5 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
tracks and roadbed of the Public Belt
Railroad system as may by said city
be deemed necessary or proper. The
; control administration. management
! and supervision of the construction
maintenance. operation and develop
!, r;ent 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-
, p1oyee of any State or interstate rail
road shall ever be allowed to act as a
: member of said commission. or as an
officer of the Public Belt Railroad, OF
be employed by said Public Belt Rail-
road. and no rights or privileges shall
ted In, nod
control marriage. use or operate the
said Public Belt Railroad System, OF
, any part the and said Public Belt
Railroad System shall be and remain
} 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
ever. that the revenues of said Public
Belt Railroad of the CT OF New or.
leans, after the deduction of the ex.
penses OF maintenance m opcration
, shall be and remain pledged for tho
payment of the bonds i, Phi ,ipal ant
interest, the issue OF which is hereir
I authorized: to such exert as may bt
necessary under this Act.
~ section 8. Be it further enacted, etc.
That all the provisions of this Act shall
; constitute a contract be VI zen the hold.
er of the bonds ISSUED Hereunder. the
State of Louisiana, the City of New
? Orleans and the Board Of Commission.
ers of the Port Of New Orleans
, 49, Section g. Be it further enacted, etc.
That at the congressional election tt
be held in this State on the first Tues.
Gay, after the first Monday in the
month of November, 1908, the following
amendment to the Constitution of the
State of Louisiana shall be submitted
to the electors, to-wit:
/ r ~