The true Democrat., 1908-09-19
Amendments. naeDt
- from Second Page.)

ss,d bond, and nd. Foso".So''al osoo,s on al
~ Insnt '1 to the Constitution OF th'
'nsD' of ouisiana authorizing .thE
Sss :'a,,.s Of said bonds and fatlfy'ns
.rs s'''n divisions of this Act IS recon-
S 1' .5 p,1 by the Port Investigation
o'np's e'nni..ion. s2 created by oa; Act No. No.
ar Sa, s.s. Extra Session of 1907; there
.I'Gs, S |. Be it enacted by the Gen.
sIDss ',,snbly Of the State Of Louisiana 9 a.
~. S # all the members elected t'
= !, House concurring; .e.;,, = ~,
=" p'.r subject to the ratihoat.o" @ OF Of The The
~ 4 he State Of louisiana oy 'ne n
spso ''t,o Of an amendment to the Const'-
W. tss State, hereinafter submitted
,bs Board of Commissioners Of
s,t s,t d Of New Orleans, created by Ao'
rs ra' !. = tbe General Assembly of 1896
~ ".0dsd 's% by Act No. Sc of the Gen
'I I',snbly Of the year 1900, is here
favt n'' md emnowered, and it shall
5 !, d,tv toissue bonds not to exceed
" ,.niIion five hundred thousand do'7
l,3soOOO0.00) in amount, dated
.,,q !, 1909, bearing five per cent
@ |. ,,ouu, interest, payable semI-annu-
m I. 4. otiucipal of which shall be pay
,,v time between July |, 1924,
sn, /. 1859. Said bonds shall be
\, n,ysbe to bearer and shall be
1.d.pot Commission Bonds" They
,sh dthe denomination Of one thous-
1aOlas tSl,0O0.00} each, payable in
I,tr money of the United States, with
o.,nnuaI interest coupons attached,
htv lst and January lst. They
,ah signed by the President and
ssgned by the Secretary of the
N of Commissioners of the Port of
\ Orleans. They shall be exempt
n all taxation, State, parish and mu-
anal and the tutors of minors and Gu
bg Of interdicts shall be authorized to
ID the funds in their hands in such
,& They may be registered and re-
sdfrOn registry under such rules and
nations as may be prescribed by said
d Of Commissioners of the Port Of
i Orleans, and no registered bond
b be negotiable. They shall be re-
abe on deposit with the State, or its
Ms or any of its political subdiyi-
sMmuncipalities, in all cases, where,
hM deposits of bonds are required or
wed 10 be made as security, with the
e m its officers, or any of its politi-
Subdivisions or municipalities.
stOn 2. Belt further enacted, etc.,
as soon as the Constitutional au-
EB for the issuance of said bonds
have been obtained, it shall be
~ duty Of the Board of Commissioners
l-R RihPcrt Of New Orleans to cause said
lds to be engraved and executed. The
aTd Of Commissioners of the Port of
J Orleans is hereby authorized and
aEsTed on and after January |,
% exchange, at not more than par
accrued interest, so many of said
b : Is may be necessary to retire out
2 ang obligations of said Board cou-
past due at the date of exchange to
sncned and cancelled by said board
. delivery Of bonds; and said Board
|, eeOy authorized and empowered to
uefeInalnder of said bonds, in whole
n ' part in such manner, and upon
3 afnS and conditions, as by said
y may be deemed advisable; pro-
mat no sale shall be made by said
AZ a price which will net to the
aRss than par and accrued interest.
as attached to said bonds, past due
same OF delivery, shall be detached
1a'eied by said board before de-
fdfthe bonds.
wa o. Be it further enacted, etc.,
ae principal and interest of said
d a'H be paid by preference from
/. ,''aaes Of the Board of Commission
@e Fort of New Orleans and all
s' c'ilsctible under the laws, as
Nag' shall be and are hereby
Fl" secure said bonds and inter-
40 event shall the charges i'm
eT '''d Board, under the law now
! = oe reduced to an amount less
's'safy for the payment of the
p' = Sad interest of said bonds; and
J, n s'a Of Commissioners of the Port |
= ,','a OiI'ans, !. as presently organized
a'as dininution of existing terri |
y. a'olssIOn, shall continue in legal
~ ~ Until allthe bonds issued in &C
- with this Act shall have been
Principal and interest; provided |
d 4, \ members of said Board shall bo |