The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1908-08-29
E.,ttrtipnal Amendments n'sDt
IlDSl'' 'aI from Second P"@r)

sas Of 5 aid bonds and ratiIylng
sl'n' s, i, Of this Act, IS reoo"
b i.5 by the Port investigation "a n
...sI,,; e' created by ACT Act . No.
l lsa Extra Session Of 1907 there
h. BE it enacted by the Gen.
't'a l., !, d the State Of louisiana
l'',n ~ all the members elected to
IB,p,. concufrins; .,;e,,+.on Of the
n' ', Nh The State Of louisiana by 'n0
o. . Wv amendment to the ConstI-
". o.. !, g. State, hereinafter submitted
O w., W. R R Of Commissioners of
h s,s@ d' New Orleans created by yo ACT
J, :" q. General Assembly Of 1896
. w by Act No. So ,5o Of the zen usn-
i, l...nblv Of the year 1900 IS haFe -
s,,,lnsn and empowered, and it shall,
y IT., oissue bonds not to exceed
s. %'r five hundred thousand dol, -,
',',s ,5 in amount dated
Y y" 1909, bearing five per cent
y. .',r, interest, payable semj-annu-
\ ' !. .,ioeiDal Of which shall be pay
nv time between July |, 1924
M ~ 1859. Said bonds shall be
a' y ,,yabIs to bearer and shall be
l.. a port Commission Bonds, They
gsdths denomination Of one t f%l ;
l''hI,tstsl,00000} each, payable IN
,unoney Of the OnI'eo 0'"'eS' WV" ,
annual interest coupons attached,
I, Ist and January LIST. They
n y signed by the President and
,,,sgned by the Secretary of the
Ed d Commissioners of the Port OF
Orleans. They shall be exempt
Al taxation, State, parish and mu-
nL and the tutors Of minors and Gu
h, d interdicts shall be authorized to
!. he funds in their hands in such
s& They may be registered and re-
,dfrun registry under such rules and
y1atOns as may be prescribed by said
S,d Of Commissioners Of the Port Of
" Orleans, and no registered bond
Be negotiable. They shall be re-
Enable on deposit with the State, or its
as or any of its political snbdlVl-
g municipalities, in all cases, where
ag, deposits Of bonds are required OF
gsd to be made as security, with the
BIZ Or its officers, or any of its polltl-
abdVisions or municipalities.
s.aOn 2. Be it further enacted, etc.
at as soon as the Constitutional au-
asy for the issuance of said bonds
aQ have been obtained, it shall bC
dty Of the Board of Commissioners
lMput of New Orleans to cause sait
nti % be engraved and executed. Tht
Bad Of Commissioners of the Port O
lE Orleans is hereby authorized ant
powered, on and after January |
wy 70 exchange, at not more than pa
y accrued interest, so many Of sait
As's may be necessary to retire out
ahdng obligations Of said Board, Cou,
y past due at the date of exchange tt
detached and Cancelled by said boarc
aHs delivery Of bonds; and said Boart
efsty authorized and empowered t
aasFsmainder OF said bonds, in whole
N part, in such manner, and upol
% terms and conditions, as by sail
au may be deemed advisable; pro
20 mat no sale shall be made by sail
paIo at price which will net to thu
a'a less than par and accrued interest
N0ns attached to said bonds, past du,
a' tine Of delivery, shall be detached
an'eIed by said board before de-
Pqd the bonds.
s"aon s. Be it further enacted, etc.
The principal and interest Of sail
. Shall be paid by preference from
revenues Of the Board of Commission.
'a Tie Port of New Orleans and al
''AU's ColIectible under the laws, a
~sEng' shall be and are hereb,
S% " secure said bonds and inter
% no event shall the charges i'm
wy SAID Board, under the law nov
'17' be reduced to an amount les
%'essary for the payment of tn
' ana interest of said bonds; an,
D..
!, D'dfa Of Commissioners of the Por
!, ~ ", orleans, as presently organize,
\, %1l'@ dlminution of existing terri
-. Iu's0ictlon, shall continue in lega
,s.'e until all the bonds issued in &C
n '' with this Act shall have bee
,,s, principal and interest; provide
I'M, : members of said Board shall b
M ,,,'so oy the Governor subject to re
,,., y The Governor, and the Cover
nave power to fill all vacancie.
's'eSt on said bonds shall be eyi