The southern sentinel. (Winnfield, La.) 1883-1910, 1908-10-30

Against the Public Belt Railroad Bond
Amendment" and each elector snail In
dictate his vote on the proposed amend
ment as provided by the general cleo
ton laws of the State.
H. q. DUPRE.
Speaker OF the House OF Representa..'es'
p NJ. LAMBREMONT,
Lieutenant Governor and President. OF
the Senate.
Approved July ;. 1908
J. Y. SANDErS
Governor of the State of l-ouisianL
A true copy. JOHN T. MIcHtl-
Secretary Of Si1ie
ACT No. $50.
5ouse Bsu No. l5s. Ey lr Barrett.
AN ACT
To authorize the Board of Commits
sioners OF the IIrI of New orleans
to issue three million. five hundred
tnousaLd dollars ,sS.yVJ.O' >-SJ OF i've
(5D per ceEt DOnds. eniSn STALL De ex-
empt trUI.I ,saNa.son. ~ authorize the
exchange Of so nlaGy of sand ponds as
may be necessary 10 re.Ire NalId out-
standing OOlIsasiOns % sall oodru~
and TO .Drov.de IVr me sale "a tue rec
mainder thereof; to provide Tor the
payment of the priacipdl ana interest
OF said bonds and The disposition OF
the proceeds thereof, To define the
powers and duties OF the Board OF
Commissioners Cf the Port OF New
State OF Louisiana ia relation there
TO: To continae said board IN exist
enee until the payment OF said bonds.
and to submit to the people an
amendment 10 the constitution OF the
State of louisiana authorizing the
issue OF said bonds anu ratifying the
provisions OF tins Act.
Whereas tine Board of Commissioners
of the Port of New Orleans. created
under the provisions OF Act 40 of
the General Assembly OF the year
1884 as amended by Act. No. 50 of the
General Assembly OF the year 1900,
Is vested with the administration of
the public wharves and landings of
the port and harbor of New Orleans.
and charged with the duty of extend
Ing. improving and maintaining the
same and the appurtenances there
to: and
Whereas. said Board of Commissioners
OF the Port of Ne~ Orleans assumed
the duties imposed on IL oy law, Ut
the termination OF the lease between
the City of New Orleans and the
Louisiana Construction q Improve
ment company. on the 2sth day OF
May. 1901; and
said Board out of its revenues
has. since said date. practically re-
built the entire wharf system re-
ceiyed from said louisiana Construc-
ton improvement Company. built
new wharves. erected steel sheds on
the wharyes and landings for the
protection OF merchandise in transit
constructed paved roadways and APP
proacnes thereto. provided suitable
dredKe and tugboats for dredging
and fire protection purposes: mas
maintained sufficient depth of watei
and provided for the lighting and po-
Icing OF the wnarves. landings
sneds ana appurtenances thereto; and
whereas. on account OF the growing
commerce or the port and harbor OF
New Orleans IL is now necessary that
adeitional wharses be constructed
ana extensive enlargements and I'M
proyements Of tho system Of wnaryas.
Ian lnKs. sheds and appurtenances be
made so that the facilities for the
handling OF export and import car
Soes IN the port and harbor Of New
orleans VIII be equal. IL not superior.
70 similar facilities at any South AT
lantic OF Gulf port; and
whereas. funds cannot be made avail
able for these purposes except by the
issue OF bonds. and
whereas. the Board of Commissioners
OF the Port Of New Orleans Is assu--
ed that provision can safely be made
from its reveneus for the payment of
the interest annually. and the pay
ment OF the principal at maturity.
OF three million. five hundred thous-
and dollars tSS.5o0. oo0.0o1 OF five per
cent bonds. and
whereas. Legislation providing for the
issue of said bonds and recommend
Ing the submission TO the people of
an amendment to the Constitution of
the State OF Louisiana authorizing
the issuance of said bonds and ratf-
Tying. the provisions of this Act is
recommended by the Port Investiga-
ton Commission created by Act. No.
: OF the Extra Session of 1907: there
Section l. Be Il enacted by the GEN.
raj Assembly of the State Of louisa
"a. two-thirds of all the members
'iec s to each House concurring:
That. subject to the eatification of
DE0nIe Of
he adoption OF an amendment to the
OF the State, hereinaft,
unlimited to them. the Board OF Conn
nissioners OF the Port of New Orleans
reated by Act No. 40 of the General
assembly Of 1895. as amended by Act
70. IS Of the General Assembly Of the
rear 1900. Is hereby authorized ana
and 1t shall be its duty. to
I've hundred thousand dollars fS3. 500
ov.0ol In amount. dated January
sos. bearing five per cent per annum
nterest PAYABLE semi-annually. TIA
rfnctpal OF which shall be payable al ,
my time between July I. 1894. and July
. 1859 Said bonds shall be drawn
ayable to bearer and shall be STYLED
Port Commission Bonds" They shall
ollars ts1.o0e.o0) each. payable in law
nj money of the United States with
emi-annual interest coupons attached.
ue July LIST and January LIST. They
nal NC SIS ar4 W the president and 1
by the Secretary OF the |
'oard OF Commissioners OF the Port Of
lew Orieans. They shall be exenpt
rom all taxation. State. parish and mu-
icipai and the tutors of minors and |
TRAITORS of fnterdicts shall be authorix-
q to invest the funds In their hands |
such bonds. They NAV be reeisfer-
and released from registry under
UGH rules and regulations as NAV be |
rescrfbed by said Board OF Commis-
loners OF the Port of New Orleans. and /
Q REGISTERED bond shall be negotiable
ney shall be receivable on deposit /
nth the State or its officers, or any /
its political subdivisions or munIci- /
alities. IN all cases where. by law. de- 1
osits OF bonds are required or allowed
be made as security with the State
us ofiicers. or any OF its political .
OF municipalities
Section 2. Be Il further enacted. etc.
hat as soon as the CONSTITUTIONAL au-
1orfty for the issuance OF said bonds
hall have been obtained. II shall be the (
uty Of the Board of Commissioners Of
- Port OF New Orleans to cause said