The Natchitoches enterprise., 1908-09-24
ACT No. 1870

MI NJ IOy-
House Bill No. 152. BIZ Mr.. Barrett
AN ACT
To authorize the Board of Commits
sioners of the Port of New Orleans
to issue three millions, five hundred
thousand dollars (83 500, 100000 of
five (5) per cent bonds, which shall
be exempt from taxation; to author
i've The exchange Of so many Of said
bonds as may be necessary to retire
valid outstanding obligations OF said
board, and to provide for the sale
of the remainder thereof; to provide
for the payment of the principal and
interest Of said bonds and the dis
position of the proceeds thereof; to
define the powers and duties of the
Board of Commissioners of the Port
of New Orleans and the Treasurer
of the State Of Louisiana in rela-
tion thereto: to continue said board
in existence until the payment of
said bonds: and to submit to the
people an amendment to the Con
stitutiOn of the state Of Louisiana
authorizing the 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 70 of the
General Assembly Of the year 1876,
as amended by Act No 30 of the
General Assembly of the year 1900,
is vested with the administration
of the public whaFyeS and landings
of the port and harbor Of New Or
leans, and charged with the duty of
extending, improving and maintain
ing the same and the appurtenances
thereto: and
said Board of Commission
ers Of the Port Of New Orleans as
sumo the duties imposed on it bv
law, at the termination of the lease
between the City Of New Orleans
and tile Louisiana Construction and
improvement Company. on the 2gth
day Of May, 1901: and
Whereas, said Board out Of its Teve-
nues has, since said date practical
ly rebuilt the entire wharf system
received from said Louisiana Con-
structton and improvement Com /
pany, built new Wharyes. erected |
steel sheds on the Wharves and land |
ings for the protection of merchan- |
disc in transit, constructed paved |
rOadwaSS and approaches thereto,
provided suitable dredge and tug
boats for dredging and fire prOtec-
ton purposes: has maintained suf-
tiCienl depth Of water and provided |
for the lighting and policing Of the
wharyes, landings, sheds and ap-
purtenances thereto; and
Whereas, on account of the growing
commerce Of the port and harboT
OF New Orleans 1t is now necessary
that additional Wharyes be con
structed and extensive engagements
and Improvements of the system of
WharYeS, landings, sheds and APP
purtenances be made so that the
facilities for the handling of export
and import cargoes in the port and
harbOr of New Orleans will be equal,
If not superior, to similar facilities
at any South Atlantic or Gulf port:
and
Whereas. funds cannot be made avail
able for these purposes except by ,
the issue Of bonds: and
Whereas, the said Board Of Commits
sioners Of the Port of New Orleans
Is assured that provision can safely I
be made from its revenues for tEe +
payment Of the interest annually &
and the payment of the principal AT {
maturity, Of three million five hun- [
bred thousand dollars tS3.5OO.00O OD4 .
Of five per cent bouds: and
fhereaS, legislation providing for the :
issue OF said bonds and recommend
ing the submission to the people of 4
an amendment to the Constitution /
OF the State of Louisiana auth0riz- Il
ing the issuance Of said bonds and ?
ratifying the provisions Of rllis Act
is recommended bV the Port Inves- 4
tigati0n Commission, created Inv Q
Act No. 9 Of the Extra Session gf /
1907; therefore:
Section J. Be it enacted BIZ fne q
eneral Assembly of the State M {
twO-thiTds of all the mem
9rs elected to each House c0ncurrfnr.
That. subject to the ratification Of me
sople Of The State Of Louisiana, by the
loptiou Of an amendment 10 tie Con s
tuition of the State, hereinafter sun 3.
lifted 20 them, the Board Of COmnrs- 81
oners Of the Port Of New Orleans Gre =
ed uv Act No. 20 of the General As n
mbly Of 1896. as amended bv Act ia. :,
Of the General Assembly Of the year !,
90, is hereby authorized and eR,upw- .
ed and It shall be Ifs duty. 20 is.ua ~
,nds not to exceed three million ma /,
lndrcd thousand dollars 81 500. COCOON Z ~
amount dated January l, 1909. bear, y
g five per cent per annum interest," i