The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1908-10-24
E,,,titutipnal Amendments IN Ell
'D' 'l!''sd from Second Page
p,optinued frol

LEGISLATION pio''0e
''.' .sid bonds and recommending son,a of ,e
SO o. ',s Sr to the people OF an an
BE '1 ,o,aot to the Constitution of the
,n.a'' nf louisiana authorizing g, the
Sn ',,. % Of said bonds and rat.fy'ns
d' 5 pI nv the Port investigation
n'nas ,;..i SS created by Act No. 9
C ..sa Extra Session Of 1907; there
',;so !. Be it enacted by the '5.. Gen.
assembly Of the State Of Louisa Loos'1" to-
.I bird, Of ali the members s's''so %
y, a'' subject to the ratification Of the
y 4 the State Of Louisiana ana c by the
y" r., amendment to the C0nS'I-
1' ,,, !, (! State. hereinafter submitted
o IN, NE Board Of Commissioners Of
1 oat 'l' New Orleans, created by o Act
. F', + the General Assembly of 1896 e
"" "" L. Act No. Sc Of the Gen
p...rbly Of the year 1900 is here :,
' +,',ns and empowered and it shall!
!. s'ty, toi,sus bonds not to exceed t,
n Gr five hundred thousand DOL
II;;5,soO,oOO.Oo) in amount, oatso a
1909, bearing five per cent
-, ..5,n,, interest, payable seml-annu-
' A. principal Of which shall be pay
: m, time between July |, 1924
Il, 1859. Said bonds shall be
', ,,v,ble to bearer and shall be
g1 pdJaON q, ~,
.pot Commission Bonds" They
!. oftbe denomination Of one thous-
d.1ars lsl,OOO.Oo) each, payable in
money Of the United States with
annual interest coupons attached,
hi, lst and January LIST. They
h signed by the President and
t,signsd by the Secretary of the
d Of Commissioners of the Port OF
Orleans. They shall be exempt
Al taxation, State, parish and mu-'
Ii and the tutors of minors and Gu
\ Of interdicts shall be authorized to
the funds in their hands in such
They may be registered and re-
afrom registry under such rules and
stons as may be prescribed by said
h Of Commissioners Of the Port OF
! Orleans, and no registered bond
! be negotiable. They shall be re-
BE on deposit with the State, or its
rs or any of its political subdiVi-
municipalities, in all cases, where
w, deposits Of bonds are required OF
!. ID to be made as security, with the
or its officers, or any of its politi-
bdiVsions or municipalities.
tDn & Be further enacted. etc.
as soon as the Constitutional au-
for the issuance of said bond:
have been obtained, it shall bt
bly, Of the Board of Commissioner:
Port Of New Orleans to cause sait
TO be engraved and executed. Thu
10 h Of Commissioners of the Port o
N Orleans is hereby authorized ant
wered, on and after January |
9 70 exchange, at not more than pa
)H accrued interest, so many of sail
as may be necessary to retire out,
ing obligations of said Board, cou
past due at the date of exchange t.
ached and cancelled by said boar
). delivery Of bonds; and said Boar
sby authorized and empowered t
eTeEnalnder Of said bonds, in who'll
: part in such manner, and upo
arms and conditions, as by sal
may be deemed advisable; pro
mat no sale shall be made by sal
il ala price which will net to tn
less than par and accrued interest
attached to said bonds, past du
ans Of delivery, shall be detache
'h'eled by said board before de
1.-THE bonds.
0A o. Be it further enacted, etc
ne principal and interest of sal
snail be paid by preference fror
''aQes of the Board of Commission
We Port of New Orleans and a
4 " eOllectlble under the laws, a
aSlng, shall be and are hereb
+" secure said bonds and inter
= no event shall the charges i'm
y sa'o Board, under the law no
" 'eouced to an amount lie!
''SSary for the payment of tt
Z and interest of said bonds; ar
VIC OF Commissioners of the Pc
O'lea =. as presently organize
'""u' ammunition of existing terr
:, ,a'a'sl0n, shall continue in leg
y : uasll all the bonds issued in az
!" Win this Act shall have be,
Hn'pal and interest; proyid,
members Of said Board shall