The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-08-27

and to administer and operate said
Public Belt Railroad Of the City of
New Orleans and to collect the reve-
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
Commissioners of the Port Of New Or
leans is hereby authorized, empowered
and directed. and il is made its duty
to administer and operate said Public
Belt Railroad to impose such charges
as it may fix aud collect said revenues
and levy and collect the special tax
hereinafter provided for and to apply
the same to the purposes of this Act.
and TO that extent and for that purpose
only. and for such time may be nee
essary to that end. said Board of Com
missioners of the Port of New Orleans
is hereby authorized to exercise all the
powers AMI is charged with all the du-
ties vested under this Act in the City
of New Orleans.
Section 4. BE it further enacted. etc.
That in case there should be in any
year Il deficiency in the revenues afore-
said to pay the full interest upon all of
said bonds outstanding. such deficiency
IF 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 10 run squat
+ to the balance of the term of the origi-
nal bonds. but subject to call At will
by the CITY OF New Orleans; and in
case any such bonds are issued they
snail be stamped across their face IN
terest Funding Bonds issued subject to
immediate call and they shall be pay
able out of the special tax of two Cd
mills per annum, which shall be levied
o., On ,n nd n af,ef aahpsrx / lslS qS here
bonds shall have all Ills ".'AraHties
and securitiea 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 for the payment of the annual in
tntest oit ~ tpf The Eemeption annual
", on and aftef January |, 1889: az any
of said bonds. as nefeiratnNe sci forth,
the redernrtior Of said bonds shall be
postponed untn January /. 1914. and
| the City of New Orleans shall levy up
on all of the taxable property within
! the present territorial limits of said
1 .,fy = special tax of two ~ mills. be-
ginning 4it., md including the year
1913. The entire proceeas 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 thefena. and all outstanding
interest funding pongis,h until all al
said bonds shall have been retired la
principal and interest. r. any surplus
of said two CD mills tax In the last
year of it's levy shalt exist. such sur
plus shall be dedicated to works of
public Improvement 10 be designated by
the City of New ORR cans,
q.
That the ,,ty ..f New Orleans shall be
and it is hereby Authorized and en-
powered to expend che proceeds OF said
bonds for the construction and equip
in and for the City of New Orleans. in
Guiding tracks sidings. switches spurs.
crpssnsprs and all appurtenances and
d Access t,s,rts; The huiding o.
sheds, statjors, signals and all other
necessary structures incident to the
construction and equipment of rail-
roads. for the purchase of locomotives
sary ruling stSck. for the payment Of
property purchased ii fxpropr lated
for the purpose of laying tracks, -ia.
| inSS, switches. spurs. crossoEers. ETC.
or for the erection of necessary struc-
lures and buildings incident to rail-
roads: for the purchase of existing
roadbeds. tracks. switches. sidings,
sputs. efosSoyers, or for the expropria-
ton of the sduri for the purchase Of
bar@es and tugboats and aThfr proper
ty incident to the operation OF a barge
system, and generally fer the purchase
and eauipneni of all property. movable
and immovable, necessary aud proper
to construct and EQUIP said public belt
railroad system. and as an incident
thereto, barge system
| Sectic2 G. Be it furt her enacted. ETC.
That there shall be and there is here
by irreYocably 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 sama
has been heretofore, or may hereafter
be established by the City of New Or
leans. the title and use TO which said
public belt railroad system shall be
and shall forever, he in the people Of
the City of New Orleans.
That III laws scryitudes. privileges
and rights in favor of the State Of
Louisiana. the City Of New Orleans and
the people CT the City of New Orleans
now existing in or on the lands or
sisSipDi river shall continue" 30 exist
unimpaircd until the full payment OF
the principal and interest NJ The bond;
to be issued under this ADJ.
Section Z. Ee it further enacted. etc.
That the City of New Orleans shall con-
struct. equip. maintain and operate said
Public Belt Railroad System in the City
of New Orleans. through and by means
of such board or commission. as may
have been or may be organ lied by the
City of New Orleans. the members Of
which shall be appointed by tho Mayor
! of the City of New Orleans with the
consent of the Council, the powers. du-
; ties and functions of which shall be
prescribed by the City of New Orleans.
The City of New Orleans Shall always
have the power and authority to make
such changes in the location of the
tracks and roadbed of the Public Belt
Railroad system as may by said city
be deemed necessary or proper The
control administration. management
and supervision of the construction.
maintenance. operation and develop
. ment of the Public Belt Railroad of the
City of New Orleans shall be exclusives
. | ~ vested and remain in such board or
commission. which shall always be sep
arate and distinct from that OF any
, railroad entering the City of New Or
leans and no director. officer or en-
. plOvCe of any State or Interstate rail
road shall ever be allowed to act as II
member of said commission or as an
officer of the Public Belt Railroad OF
he nj n nv Il 1,I 10, palt I.,il
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