The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1908-09-05

vide for the payment of the annual a
interest on, or for the redemption an +
nuallv. on and after January l, 1889,
Of any of said bonds, as herelnaboVe
set forth, the redemption of said bonds
shall be postponed until January l,
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
~ mills. beginning with and includ-
inc the year 1913, the entire proceeds
whereof shall be applied annually to
the redemption of the bonds issued I'M
der this Act and all interest that may
be then or thereafter due thereon, and
all outstanding interest funding
bonds" until all of said bonds shall
have been retired in principal and in
terest. If any surplus of said two ~ |
mills tax in the last year of It's levy i
shall exist, such surplus shall be
dedicated to works of public improve
ment to be designated by the City OF
New Orleans.
Section 5. Be it further enacted,
ETC., That the City of New Orleans
shall be and it is hereby authorized
and empowered to expend the proceeds
of said bonds for the construction ana
equipment of Public Belt Railroad
!. System in and for the City of New Or
leans. including tracks, sidlngs,
+ switches, spurs, crossovers and all
A, appurtenances and accessories there
to: the building of depots, round
houses. warehouses, sheds, stations,
: SIGNALS and all other necessary struc-
' lures incident to the construction and
e equipment of railroads, for the pur-
/ chase of locomotives. switch engines,
: cars and other necessary rolling stock;
e for the payment of property purchased
S or appropriated for the purpose OF
e LAYING tracks, sidings, switches, spurs,
!, crossovers, ETC.. or for the erection OF
d necessary structures and buildings In
It cident to railroads: for the purchase
i of existing roadbeds, tracks, switches
v sidings. spurs, crossovers, or for Tit
,r appropriation of the same: for tn
" purchase of barges and tugboats ant
lie other property incident to the opera
l. ton of barge system: and general.
ID for the purchase and equipment OF al
property movable and immovable
", necessary and proper to construct an
9 equip said public belt railroad sys
ba TEN, and as an incident thereto,
st barge system.
D. Section g. Be it further enacted, etc
of That there shall be and there is hereb
b. irrevocably dedicated to the poop
ew of the City of New Orleans for perpe
es ual and exclusive public use sal
CHI Public Belt Railroad System, as tt
on same has been heretofore, or may her
,tv after be established by the City
mt New Orleans, the title and use to whit
ad said public belt railroad system sha
I'M be and shall forever be in the Poop
)o) of the City of New Orleans.
is That all laws, servitudes, privileg
nd and rights in favor of the State
the Louisiana, the City of New Orlea
nd and the people of the City of New I
md leans, now existing in or on the ian
red or property on or contiguous to
aid Mississippi river shall continue to
Is ist unimpaired until the full payne
red of the principal and interest OF
as bonds to be issued under this Act.
as Section I. Be it further enacted, ct
alo That the City of New Orleans sh
construct, equip, maintain and OPP
the ate said Public Belt Railroad Syst
ap- of the City of New Orleans through a
xed bvmeans of such board or commissi'
aid as may have been or may be organ
OF ed by the City of New Orleans,
eve members of which shall be appoin
'ay- by the Mayor of the City OF New
iue, leans, with the consent OF the Coun
pro- the powers, duties and functions
OF which shall be prescribed by the {
New of New Orleans. The City OF New
'ow- leans shall always have the power
It's authority to make such changes in
SAID location of the tracks and roadbet
such the Public Belt Railroad System
SAID may by said city be deemed necess
the or proper. The control, admins
Tor ton, management and supervision
oses the construction, maintenance. OPP
Tor ton and development of the Pu
time Belt Railroad of the City OF New
SAID leans shall be exclusively vested
Port remain in such board or cOmmiss
rlzed which shall always be separate
ARG distinct from that of any railroad