The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-10-01

session OF the Louisiana General AS
Act is hereby ratified and approved:
and all provisions of the Constitution
or the state in conflict with the provis-
ions of said Act and of this amendment.
pose only repealed"
Section 10. Be it further enacted, etc.
Ihat on the official ballots to be used
at said election shall be placed the
words. For the Public Belt Railroad
Bond Amendment" and the words:
Against the Public Belt Railroad Bond
Amendment" and each elector shall in
dictate his vote on the proposed amend
ment as provided by the general cleo
ton laws of the State.
H. G. DUPRE,
Speaker of the House Of Representatives.
p. M. LAMBREMONT,
Lieutenant Governor and President of
Approved July 3. 1908.
]. Y. SANDERS
Governor of the State of Louisiana.
A true copy. JOHN T. MICHEL.
Secretary OF State
ACT No. $50.
House Bill No. 1872. By Mr.. Barrett.
AN ACT
To authorize the Board of Commits
sioners Of the Port OF New Orleans
to issue three million, five hundred
thousand dollars ($3,50O,0op.00 of five
(5) per cent bonds. which shall be ex-
exchange OF so many Of said bonds as
may be necessary to retire valid out
standing obligations of said board.
and to provide for the sale Of the re-
payment Of the principal and interest
of said bonds and the disposition of
the proceeds thereof; to define the
powers and duties of the Board of
Commissioners of the Port of New
Orleans and the Treasurer the
State of Louisiana in relation there
to; to continue said board in exist
ence until the payment of said bonds;
amendmen, to the = eonstitue Hnpt Of tie
State Of Louisiana authorizing the
T.. Issue Of said bonds and ratifying the
provisions of this Act.
Whereas the Board Of Commissioners
of the Port of New Orleans, created
under the provisions Of Act 20 of
the General Assembly of the year
1896. as amended by Act. No. Sc of the
General Assembly of the year 1900,
is vested with the administration of
the public wharves and landings of
tie port and haFboF of New Orleans,
and charged with the duty of extend
ing. improving and maintaining the
same and the appurtenances there
to: and
Whereas. said Board of Commissioners
OF the Port of New Orleans assumed
the termination Of the lease between
the City Of New Orleans and the
men ment Conn, Company on the 2sth day OF
Whereas. said Board out of its revenues
has, since said date. practically re-
built the entire wharf system re-
ceived from said Louisiana COnstruc-
tlon 4 Improvement Company, built
the wharves and landings for the
protection of merchandise in transit
constructed paved roadways and ap-
proaches thereto. provided suitable
| and fire projection purposes; has
maintained sufficient depth Of waite,
and provided for the lighting and po-
sh edE , OF the Wharyss landings
Whereas. ON account of the growing
commerce of the port and harbor Of
New Orleans 1t is now necessary thai
additional wharves be constructed
provements of the system of wharves
landings. sheds and appurtenances be
| made SO that the facilities for the
handling OF export and import car
Orleans will be equal, If not superior
to similar facilities at any South At.
| lantic or Gulf port; and
whereas. funds cannot be made avail
able for these purposes except by thu
issue of bonds; and
| Whereas. the Board of Commissioner.
of the Port Of New Orleans is assur
| ed that provision can safely be mad,
the interest annually. and the pay
ment of the principal at maturity
of three million, five hundred thous
and dollars t$3.500.O 100000 of five pei
| Whereas. legislation providing for tn
| issue of said bonds and recommend
ing the submission to the people o
an amendment to the Constitution o
| hn Sfatx Of ,{oin 1or lot ~
the issuance of said bonds and rati
| tying the provisions of this Act Il
| recommended by the Port Investiga
ton Commission created by Act. No
9 of the Extra Session of 1907; there
/ fore:
Section l. Be it enacted by the Gen
eral Assembly of the State of louisa
ma. two-thirds Of all the member
| That. subject to the ratification o
the people of the State of Louisiana, b.
the adoption of an amendment to tn
Constitution of the State, hereinafte
! missioners of the Port of New Orlean:
created by Act No. 20 of the Genera
Assembly of 1896. as amended by Ac
No. So of the General Assembly of tn
year 1900, is hereby authorized am
/ empowered. and it shall be it's duty. t
issue bonds not to exceed three million
five hundred thousand dollars ($3,500.
006.00) in amount. dated January
interest. payable semi-annually. tn
principal of which shall be payable a
any time between July !. 1924, and Jul
l. 1859. Said bonds shall be draw
Port Commission Bonds" They shall
be Of the denomination Of one thousan
dollars ($1.000.0O) each. payable in law
full money of the United States. wit
due July 1st and January LIST. The
! shall be signed by the President an
countersigned by the Secretary of tn
| Board Of Commissioners of the Port o
from all taxation. State. parish and mu
nicipal, and the tutors of minors an
curators of interdicts shall be authoriz
ed to invest the funds in their hand
ed and released from registry unde
such rules and regulations as may b
/ prescribed by said Board of Commits
sioners of the Port of New Orleans, an
/ They shall be receivable on deposi
with the State. or it's officers, or an
of it's political subdivisions or munich
palities. in all cases where, by law, de
to be made as security with the Stat,
or its officers, or any of it's politics
subdivisions of municipalities.
Section 2. Be it further enacted. etc
thority for the issuance of said bond
shall have been obtained, 1t shall be tn
duty of the Board of Commissioners G
the Port of New Orleans to cause sal
bonds to be engraved and execute,
The Board of Commissioners OF tn
Port of New Orleans is hereby author
. tied and empowered. on and afte
January l, 1909. to exchange, at no
more than par and accrued interest. 8
many of said bonds as may be neces
tsary to retire outstanding obligation
Il of said Board. coupons past due at tn
date of exchange to be detached an
q tcanceled by said Board before deliv
cry of bonds: and said Board is hereb
authorized and empowered to sell tn