The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1908-10-17

leans should not be sufficient to pro- 0
vide for the payment OF the annual a
interest on. or for the redemption an t
nnally. on and after January |, l939,
of any of said bonds, as hereinabove
set forth. the redemption OF sad bonds
shall be postponed until. January |, {
1914, and the City of New Orleans
shall levy upon all OF the taxable
property within the present territorial
limits Of said city special tax OF two
ia mills. beginning with and includ-
iny the year 1913, the entire proceeds
whereof shall he applied annually to
the redemption of the bonds issued I'M
der this Act and all interest that may |
he then or thereafter due thereon, and |
NIL outstanding ''interest funding
bonds. until all of said bonds shall
have been retired in principal and IN
terest. If any surplus of said two (2)
mills tax in the last year OF its levy
/, shall exist. such surplus shall be
: dedicated to works Of public improve
ment to be designated by the City of
c New Orleans.
Section ). Be it further enacted,
4 etc. That the City Of New Orleans
j. shall be and it is hereby authorized
= and empowered to eXpend the proceeds
4 of said bonds for the construction and
10 couipment of Public Belt Railroad
,e System in and for the City OF New Or
s leans. including tracks, sldings,
If switches. spurs. crOssOvers and all
Up appurtenances and accessories there
G. to-. the building of depots, round
p houses, warehouses. sheds, stations,
IL SIGNALS and all other necessary struc-
rv t,lres incident to the construction ano
he equipment of railroads, for the pur
nd chase of locomotives, switch engines
e- cars and other necessary rolling stock
ce for the payment Of property purchased
MS or appropriated for the purpose o
he LAYING tracks, sidings, switches, spurs
IS, crossovers. etc, or for the erection 0
ed necessary structures and buildings IN
est ridfnt to railroads: for the purchas
nj of existing roadbeds, tracks, switches
ay sidings. spurs, crOsSOverS, or for tn
REP eyprOpriatiOn Of the same: for III
,bv purchase of barges and tugbOats an
,de other property incident to the opera
ou- ton OF barge system: and general
ted for the purchase and equipment OF a
property movable and immoVabl'
H., necessary and proper to construct an
-. eouip said public belt railroad sy
-, tenn. and as an incident thereto,
;rst barge system.
am Section 6. Be it further enacted, etc
Of That-there shall be and there is herei
NIB irrevocably dedicated to the Peep
New of the City of New Orleans for perpe
uses ual and exclusive public use sa
,icb Public Belt Railroad System, as t
on same has been heretofore, or may hel
-itv after be established by the City
punt New Orleans, the title and use to viii
q,al. said public ,.2lt RAILROAD system sh'
su,n be and Shall forever be in the peol
], GM of the City of New Orleans.
n is That all laws, servitudes, priviles
and and rights in favor of the State
| the Louisiana. the City OF New OrleG
and and the people of the City OF New
bond leans, now existing in or on the Ian
drcd or property on or contiguous to,
said Mississippi river shall continue to
r is ist unimpaircd until the full pawn
tired of the principal and interest OF
reas- bonds to be issued under this Act.
eu as Section I. BE it further enacted, e
Sala That the City Of New Orleans 81
construct, equip, maintain and OF
If the ate said Public Belt Railroad Sys
d APP of the City of New Orleans through
fixed by means of such board or commiss
said as may have been or may be orga
ty OF ed by the City OF New Orleans,
rove members of which shall be appoil
pay by the Mayor of the City of New
; due, leans. with the consent OF the Coul
pro the powers, duties and function
lrd of which shall be prescribed by the
New of New Orleans. The City of New
npow- leans shall always have the power
de its authority to make such changes ii
said location of the tracks and roadbe
such the Public Belt Railroad System
It said may by said city be deemed neces
ct the or proper. The control, admin
ed Tor ton, management and supervise
'poses the construction, maintenance, OF
nj Tor ton and development OF the r
time Belt Railroad of the City OF New
|, said leans shall be exclusively vested
, Port remain in such board or commas