The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-09-03

Section 10. Be it further enacted. etc.
That on the official ballots to be used
1t said election shall be placed the
words. For the Public Belt Railroad
4 Against the Public Belt Railroad Bond
and each elector shall in
iicate his vote on the proposed amend
nent as provided by the general cleo
ton laws of the State.
H. G. DUPRE,
Speaker Of the House Of Representatives.
P. NJ. I4AMRREMONT
Lieutenant Governor and President OF
Approved July 8. 1903.
J. Y. SANDERS
Governor of the State OF Louisiana.
A true copy, JOHN 7. MICHEL.
secretary OF State
ACT No. $50.
House Bill No. 1872. By Mr.. Barrett.
AN ACT
To authorize the Board of Commits
sioners of the Port OF New Orleans
TO issue three million, five hundred
Ia per cent bonds, which shall be ex-
empt from taxation: to authorize the
exchange Of so many Of said bonds az
may be necessary to retire valid out.
and to provide for the sale of the re-
paynent Of the principal and interest
Of said bonds and the disposition 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 relation there
to; to continue said board in exist
ence until the payment of said bonds;
amendment to the constitution OF the
State of Louisiana authorizing the
issue of said bonds and ratifying the
provisions of this Act.
of the Port OF New Orleans, created
under the provisions of Act 20 OF
the General Assembly Of the year
1896. as amended by Act. No. sc of the
is vested with the administration of
the public wharves and landings Of
the port and harbOr OF New Orleans.
ana charged with the duty Of extend
!nE; lmnEGoytbns And malntaialR,K5 Ihs
to: and
Whereas. said Board Of Commissioners
of the Port of New Orleans assumed
the duties imposed on 1t by law, at
the termination of the lease between
the City of New Orleans and the
Louisiana Construction 4 Improve
ment Company. on the 10Th day OF
May. 1901: and
Whereas. said Board out Of it's revenues
built the entire wharf SYSTEM E:
ceived from said Louisiana Construc:
ton Improvement Company. built
epde'i snsess es Re
protection of merchandise in transit
Proaches Thereto provided suitable
dfedge and tnghoats for dredging
nd fe sufeen, dep{RR 81
and provided for the lighting and pc.
Icing of the wharves, landings
sheds and appurtenances thereto; anG
commerce of the port and harbOr Of
New Orleans it is now necessary tina,
additional wharves be constructed
and extensive enlarRements and i'm
Proystements e the system of wharves
made, SO that the facilities for thi
handling OF export and import car
goes in the port and harhor OF New
Orleans will be equal, il not superior
iantic or Gulf porti and
whereas. funds cannot be made avail
able for these purposes except by thu
issue of bonds: and
Whereas. the Board of Commissioner
of the Port of New Orleans Is Assur
ed that provision can safely be mad
from it's reveneus for the payment o
the interest annually, and the pay
ment OF the principal at maturity
~
and dollars $4,000, 100000 Of five pc
whereas, lexisiation prov.d,ns for tn
issue of said bonds and recommend
an amendment 10 the CONSTITUTION Q
the State of Louisiana authoriyinl
the issuance of said bonds and rati
flying the provisions Of this Act.
recommended I.se ";sl,b by the Pert lnyestiga
Q of the Extra Session OF 1907; there
fore.
Section l. Be it enacted by the Gen
eral Assembly OF the State Of Louisia
elected to each House concurring:
That. subject to the ratification o
the people of the State Of Louisiana. b
the adoption OF an amendment to tn
Constitution Of the State, hereinafte
missioners OF the Port of New Orlean.
created by Act No. 10 of the Genera
Assembly of 1895. as amended by AG
No. SO of the General Assembly of tn
empowered. and it shall be it's duty. t
issue bonds not to exceed three millio
/ five hundred thousand dollars ($3.50O
10000! In. amount. dated January
1909. bearing FIVE per cent per annH1
principal OF which shall be payable d
any time between July /. 1924, and Jul
l. 1853. Said bonds shall be draw
PAYABLE to bearer and shall be style
port Commission Bonds" They sha
be of tho denomination of one thOusan
/ dollars Hl .OOO. OO) each, payable in law
! full money OF the United States, wit
semi.annual interest coupons attached
/ due July LIST and January LIST, The
shall be signed by the President an
countersigned by the Secretary Of tn
/ Board of Commissioners of the Port {
New Orleans. They shall be exemI
from all taxation. State. parish and mt
! ,iotr t,sf0 ~>f ,,,tr,
/ curators OF interdicts shall be authors
/ ed to invest the funds In their hand
/ In such bonds. They may be register
/ ed and released from registry unde
prescribed by said Board OF Commi.
sioners of the Port OF New Orleans. an
no registered bond shall be negotia bl
/ They shall be receivable on depOs
! with the State. or it's officers. or an
| of it's political subdivisions or munic
palities. in all cases where. by law. d.
posits OF bonds are required or above
to be made as security with the Stat
or its officers, OF any OF its polite:
subdivisions of municipalities.
Section 2. Be 1t further enacted. ets
That. as soon as the Constitutional a,
thority for the issuance Of said bono
shall have been obtained. 1t shall be tt
duty OF the Board OF Commissioners
bonds to be engraved and execute
The Board Of Commissioners OF tn
Port Of New Orleans is hereby author
ized and empowered, on and afte
January l. 1909. to exchange. at nc
more than par and accrued interest, s
many of said bonds as may be nece.
sary to retire outstanding obligation
of said Board. coupons past due at til
date of exchange to be detached an
Cancelled by said Board before deli,
cry of bonds: and said Board Is hereh
authorized and empowered to sell tt
remainder of said bonds. In whole {
in part. i'll such manner, and upon sue
terms and conditions. as by said Boar
may be deemed advisable: provide