The southern sentinel., 1908-09-11

many oil t s.iu Vortstauding obligations
~ said board. coupons pas ,i'-bad and
dot, Of exchange To DC 49,. daIiv-
canceieJ by said Board Drioie b.rshy
C.ai' ~ - h,nds. and said Board Is hsfspS
a,,,horized and empowered I" So So or
remainder OF said bonus, ~ ,,no,1 such
In mart in such manner. anu W. W ri
ih -, ,nJ conditions. as by said boaiu
,ax ne deemed advisable; PRIV al
that no sale shall be hlIue ,o the
Board at "A price whlch VIII "lI,.,d inter-
BosrJ loss tnan par and accrued Iheea
esf coupons attached To s;ila oohii oot,Iii
nsst due al the time of delivery sndi
be detached and eanseiIha hands
So.,,on 2 Re AZ further enacted: etc;
That the principal and interest," oi .,., 49,
bonds shall be paid by preiereHTS Tommis@
sioners OF the Port of New Orleata,
and ali reVenues coliectible unoeI III
laws as now existing. shall be ana az ar
hereby pledged to secure svent shall the
| charges imposed by said Board. unos
| the law now existing. be reduceu " a.
amount less thru neceysaa ana Interest
OF said bonds; and the Board OF Com
| missioners of the Port OF New OrneaaaiI' AZ
as presently organized and witnou' 1
| minuation of existing territoflai ~
risdiction. shall continue In legG ea
/ istencc until all the bonds issued In ,, ac
| cordance with this Act shall nave pssn
| paid in principal and interest,", pIoSi .sai,
| al that the members of said Board snaIi
| he annointed by the Governor. subject
/ to removal by the Governor. and tne
Governor shall have power 10 I'M al
The interest on said bonds shall be
| evidenced by coupons attached thereto'
payable semi-annussiiy. yooy.,ana ny tne on the
| first days of July and January, anu
said Board shall place on oeposlI On
or before April /, 1903, and on OF pc
fore the first of April OF every suose
| ouent year with the Treasurer OF the
State OF Louisiana, TO the credit OF =
special account to be styled interest,"
nnsI interest on all bonds that may
have been delivered. Said Treasurer u
hereby empowered and directed and II
is made bis duty; ,S.t TO a% pay be any due % when
presented by any holder thereof. In
the wear 1924. and annually thereafter.
said Board shall, In aoaitlon 20 .ne ne
the 1st of July. place on aeposit. ON ~
before April 1. with the Treasurer OF
the State Of Louisiana, 70 the cpeaas pS
of a special account to be styled bond
Redemption Account. sum OF one
hundred thousand dollars (S1oo; ;ooo.oo).
and the said Treasurer Is hereby EN-
powered and directed, and II Is mace
his duty, to pay. on the LIST OF July. OF
the year 1894. and annually thereafter.
out OF said Bond Redemption Account.
reverse order of their issue: and all
bonds and coupons retired under this
Act shall be by said Treasurer uuiy
cancelled and delivered to the Board OF
Commissioners of the Port of New Or
leans. which shall receipt Tor same,
and which shall retain and paste tne
same as vouchers. IN BOOK 70 pe 90. ps
Il kept for that purpose IL shall oe
the duty of said Treasurer 10 require
said deposits to be made as aloresaid.
and in case of failure on the part OF
| safd Board to make said deposits. or tn
| impose. under the law as now exlsting:
the charges for the use OF saiu
wharves. landings. sheds and appur-
tenances thereto. or to collect the feve-
| nues therefrom. in an amount suffi-
cient to provide for the payment OF In
terest due or to become due. and the
| redemption of bonds as provided In this
| Act said Treasurer Is hereby empower
ed and directed. and IL IS made his duty
to impose said charges and collect SAID
revenues. and to apply the same TO the
| purposes of this Act. and to that ex-
tent. and for that purpose only. and Tor
such time as may be necessary 70 tnat
end. the said Treasurer is hereby au,
thorized 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 Or
leans.
Section L. Be IL further enacted. etc;
That all of the provisions OF this Act
shall constitute a contract between the
holder OF the bonds issued thereunder.
the State of louisiana, and the Board
; of Commissioners OF the Port OF New
Orleans
That the Board of Commissioners OF
: the Port OF New Orleans shall. and II
, is hereby authorized and empowered "a
expend the proceeds of said bonds for
the extension of existing wharves. for
building new wharves. for erecting
sheds. for constructing roadways. and
other improvements. for the purchase
of suitable dredges. barges and tug
! | boats. for the payment OF wharves or
other property purchased or exproprf-
ated. and for the payment of obliga-
. L
; standing. provided that no private
= | property shall be taken without just
and adequate compensation previously
paid.
. ON the s1st day of December of each
year. the said board shall furnish de-
account IN th. ~ INC a9d on ths
| State: which report shall be published
once In the official journal OF the City
, of New Orleans.
Section 6. Be il further enacted. etc
; That at the Congressional election tc
[ be held IN this State on the first Tues
: day following the first Monday of No.
:. vember. 1905. the following amendmen,
to the Constitution Of the State oi
Louisiana shall be submitted to the
electors Of the State. to-wit: This
.. / Board of Commissioners of the Port OF
: New Orleans shall have power. and n
I shall be it's duty. TO issue three mflifor
I five hundred thousand dollars (33.50o.-
Commission Bonds for the purpose.
> and under the provisions and condi.
tfons set forth In the Act Of the Legis.
= lature adopted to that end and for thai
purpose at the regular session OF ths
General Assembly OF 1908, which sale
Act Is hereby ratified and approved
and all provisions of the present Con
> stitution OF the State In conflict with
the provisions of this Act. and with
this amendment are to that extent and
for that purpose only, repealed.
Section z. Be IL further enacted. etc.
r That. on the official ballots to be uset
at said election shall be placed tn,
J. words: For the Port Commission
1 Bond Amendment" and the words
Against the Port Commission Bone
. Amendment" and each elector shall in
q dicate his vote on the proposed amend
o ment as provided by the general elec
tion laws of this State.
: II. @. DUPRE.
|, Speaker OF the House OF Representatives
p. NJ LAMBREAONT.
Lieutenant Governor and President o.
{ the Senate.
Approved July 3. 1908.
"A J. Y. SANDERS
y Governor Of the State of Louisiana
J, A true copy. JOHN T. MICHEL.
Secretary Of State.
ACT No. 245.
v Senate Bill No. ss. BY Mr.. Barret
d A JOINT RESOLUTION
e Proposing an amendment to the Con
!. stitution Of the State of Louisians