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


ho made by said city, except upon .
sealed proposals to be suomil'e0 W
col ii city after advertisement for the Il
same shall be had for thirty l5o) con con
secutive days in one or more ualfs
oouvnaners of the cities of New YORK
and New Orleans, Respectively anu
nroyided that no sale shall be MACE
NV said city at price less than par
ond accrued interest, the city to have
always the right to reject any anu al
hds Commons attached to said bonds,
mast due at the time OF delivery sh"l
no detached and Cancelled by SAID Guy
before delivery of the bonds
Section3. Be it further enacted e'c',
That the principal and interest Oh Salo
bonds shall be paid by preference
from the revenues of the Pupllc heit
Railroad of the City OF New Orleans,
after deducting the expenses OF mann
tenance and operation, and all Fuollc
Rplt revenues collectible under exist
mo laws or ordinances, or allleilo~
mpnts thereto, and all future PuDiic
polt Railroad revenues. after deduct
: i,u the exuenses of maintenance ana
onpration, are hereby pledged 10 Sc
o,ra said bonds and interest. The IN
II Il
forest of said bonds shall be eViuehceo
by coupons attached thereto, payaple
semi-annually by the Treasurer OF 'lie
CITY of New Orleans, on the llrSt DAYS
Of July and January, and the Cl'y VI
New Orleans Shall appropriate ON or
before the first days of April and Oc,
tober, 1909, and annually thereafter
to provide for the payment OF the semi
annual interest due July | and January
i. Of each subsequent year, out OF th'
ravenues of the Public Belt Railroad
rs of the City of New Orleans, alter DC
W Quoting the expenses OF MAINTENANCE
IS, and operation, which Appropriation
A. shall be credited on the books OF I'll
re- Treasurer of the City OF New orleans
of to q special account to be s'yle
id "Public Belt Railroad Bond lntefes
81 Account" amounts equal to the sem
of, ANIMAL interest on all bonds that ma
ad have been delivered. The Treasure
CIV of the City of New Orleans is heret
or empowered and directed, and 1t IS mac
an his duty, to pay any and all such co
be pons that may be due when present'
the by any holder thereof.
0w- In the year 1899, and annual
ich thereafter, the City of New Orlean
: of shall, in addition to the amount OF t
ers semi-annual interest due on the III
Or of July and January of each year a
MIS- Dropriate. on or BEFORE the first day
ans April, out of the revenues OF the FL
INIT lie Belt Railroad of the City OF N
OF Orleans, after deducting the eXpen:
the of maintenance and operation, WIN
lisl- appropriations shall be credited
said the books of the Treasurer OF the Y
ions of New Orleans to a special acco'
to be styled "Public Belt Railrc
the Bond Redemption Account, the S
, OF of one hundred thousand $780, 600.
lem- dollars, and the said Treasurer
ing, hereby empowered and directed,
the it is made his duty to pay, on
by first day of July of the year 1889,
4 OF annually thereafter, out OF said b.
d to REDEMPTION account, one humid
here thousand $500, 000.00) dollars of
IS bonds, in the reverse order OF thell
lion sue: and all bonds and coupons ret
t, to under this Act shall be by said Ir
five urer duly Cancelled and be paste'
'aya- vouchers in a book to be by
1899, Treasurer kept for that purpose.
In case of failure on the part OF
"oio CITY of New Orleans to make SAID
l "o propriations at the times herein
Ivy VI and to administer and operate
Vic Public Belt Railroad of the Cit
~ do New Orleans. and to collect the
nues therefrom to provide for the
huii- ment of interest due or to become
oo'o' and the redemption OF bonds, as
vided for in this Act, the Boa
lore'' Commissioners of the Port OF
from Orleans is hereby authorized, EN-
cred and directed, and it is mat
'io'- duty to administer and operate
Illloe'- Public Belt Railroad, to impose
'l'0. charges as it may fix and collect
i""' oi revenues and levy and collec
SUM special tax hereinafter provide
~ ''o and to apply the same to the pur
iati 'e of this Act. and to that extent al
NY VI that purpose only, and for such
~ WV as may be necessary to That END
Vi 'iio Board of Commissioners OF the
Ill NC of New Orleans is hereby auth'
; par to exercise all the powers and is