The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-10-22


nues therefrom 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
leans is hereby authorized. empowered
and directed. and it is made its duty
to administer and operate said Public
Belt Railroad, to impose such charges
and levy and collect the special tax
hereinafter provided for and to apply |
the same to the purposes of this Act, |
and to th1t extent and for that purpose |
only. and for such time as may be nec- |
essary to that end. said Board of Com I
mssioners of the Port of New Orleans
is hereby authorized to exercise all the |
powers ans is charged with all the du-
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 be 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-
by the City of New Orleans; and in
case any such bonds are issued they
snail be stamped across their face I'm
terest Funding Bonds issued subject to
able out of the special tax of two ca
mills per annum, which shall be levied
On and after January 1, 1913 as here
matter provided. Said interest funding
and securities provided for the original
bonds in this Act for their payment
principal and interest.
In case the revenues of the Public
Belt Railroad of the City of New Or
leans should not be sufficient to pro-
vide fer the payment of the annual in
tcrest 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
postponed until January /, 1914. and
the City of New Orleans shall levy up
on all of the taxable property within
city 4 special tax Of two CD mills, be-
ginning with and including the year
1913 the entire proceeds whereof shall
be applied annually to the redemption
of the bonds issued under this Act and
all interest that may be then or there
after due thereon. and all outstanding
interest funding bonds until all OF
said bonds shall have been retired In
principal and interest. IT, any surplus
of said two (2) mills tax in the last
year of it's levy shall exist, such sur
plus shall be dedicated to works of
the City of New Orleans
| Section 5. Be it further enacted. ETC..
That the City of New Orleans shall be
|
powered to expend the proceeds Of said
| bonds for the construction and equip
ment of Public Belt Railroad System
in and for the City of New Orleans, in
Guiding tracks, sidings switches spurs.
crossovers and all appurtenances and
accessories thereto; the building Of
! depots. roundhouses, warehouses;
sheds, statiors. signals and all other
construction and equipment of rail-
roads. for the purchase of locomotives.
switch engines, cars and other neceS-
sary rolling stock; for the payment of
for the purpose of laying tracks, sid
ings. switches. spurs, crossovers, etc.
or for the erection of necessary struc-
lures and buildings incident to rail-
roaGbeds. tracks. switches. sidings.
spurs. crossovers, or for the expropria-
ton 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 equipment of all property. movable
and immovable necessary and proper
to construct and equip said public belt
railroad system. and as an incident
thereto, a barge system.
Section 6. 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 sam:
| !
be established by the city of New Or.
leans, the title and use to which sale
public belt railroad system shall bt
and shall forever be in the people OF
the City of New Orleans
; | That all laws. servitudes, privilege!
and rights in favor of the State o.
Louisiana, the City of New Orleans ant
the peorie of the City OF New Orleans
> property on or contiguous to the Mis-
, sissipp river shall continue 70 exis
; unmpaired until the full payment o
e the principal and interest If the bond
: | to be issued under this Act.
, Section Z. Be it further enacted, etc
!. That the City of New Orleans shall con
q struct, equip, maintain and operate SAT-
: Public Belt Railroad System in the Cit,
y of such board or commission, as ma
: have been or may be organ lied by tn
v City of New Orleans, the members 0
y which shall be appointed by the Mayo
:; of the City of New Orleans, with tn
= consent of the Council, the powers, du
g ties and functions of which shall b
;, prescribed by the City of New Orlean.
y The City of New Orleans shall Away
!. have the power and authority to max
- such changes in the location of tn
u tracks and roadbed of the Public Bel
! Railroad system as may by said cit
be deemed necessary or proper Th
:. control, administration. management
:, and supervision Of the construction
IL maintenance. operation and develop
II =
e City of New Orleans shall be exclusive
L " vested and remain in such board G
y commission. which shall always be ser
L arate and distinct from that of an
s, railroad entering the City of New o.
10 leans. and no director officer or en-
l. ployee Of any State or interstate raj
y road shall ever he allowed to act as
lie member of said commission. or as a
m officer of the Public Belt Railroad,
to be employed by said Public Belt Raj
he road. and no rights or privileges sha
4 be granted Il, any railroad company
~ control, manage, use or operate til
es said Public Belt Railroad System.
G. any part hereof, and said Public Be
Ill Railroad System shall be and renal
So the sole property of the people of IL
ty City of New Orleans at all times. ar
!, shall in no way or manner ever be h.
10 pothecatad or alienated. provided. hoy
Ia Belt Railroad of the City of New 0
leans. after the deduction of the e.
e; penses OF maintenance IN operatio
ia shall be and remain pledged for tt
u interest, the issue of which is here
er authorized; to such extent as may
ce necessary under this Act.
" Section 8. Be it further enacted, ct
VS. That all the provisions of this Act shs
%. constitute contract be ucen the hol
40 er of the bonds issued thereundef, t
es State of Louisiana. the City of Ne
re Orleans and the Board Of Commissio
ds ers of the Port of New Orleans.
Dis Section 9. Be it further enacted. ct
ed That at the congressional election
he be held in this State on the first Tue
IS. day, after the first Monday in t
". month of November, 1908. the follows
D. amendment to the Constitution of t
vs. State of Louisiana shall be submit
l. to the electors. to-wit:
e