The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1908-09-12

vide for the payment of the annual
interest on, or for the redemption an
nuaIIy, on and after January /, 1899,
of any OF said bonds, as hereinabove
set forth, the redemption of said 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 a special tax of two
(2) mills, beginning with and includ-
ing the year 1913. the entire proceeds
whereof shall be applied annually to
the redemption of the bonds issued un-
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 (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
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 and
equipment of Public Belt Railroad
System in and for the City of New Or
leans, including tracks, sidings,
switches, spurs. crOsSOverS and all
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
equipment of railroads, for the pur-
chase of locomotives. switch engines,
cars and other necessary rolling stock:
for the payment of property purchased
or appropriated for the purpose of
laying tracks, sidings, switches, spurs,
crossovers, ETC., or for the erection of
necessary structures and buildings in
cideut to railroads: for the purchase
of existing roadbeds, tracks. switches,
SiQingS, spurs. crOSSOverS. or for the
appropriation of the same: for the
purchase of barges and tugboats and
other property incident to the opera
ton of barge system: and generally
for the purchase and equipment of all
property movable and immovable,
necessary and proper to construct and
equip said public belt railroad sys-
TEN. and as an incident thereto, a
barge system.
Section =. Be it further enacted, etc,
That there shall be and there is hereby
irreyocably dedicated to the people
of the City of New Orleans for perpet-
ual and exclusive public use said
Public Belt Railroad System, as the
same has been heretofore, or may here
after be established by the City of
New Orleans, the title and use to which
said public belt railroad system shall
be and shall forever be in the people
of the City of New Orleans.
That all laws, servitudes, privileges
and rights in favor of the State OF
Louisiana, the City of New Orleans
and the people of the City of New Or
leans, now. existing in or on the lands
or property on or contiguous to the
Mississippi river shall continue to eX-
ist unimpaired until the full payment
of the principal and interest of the
| bonds to be issued under this Act.
Section I. BE it further enacted, etc,
That the City of New Orleans shall
construct, equip, maintain and oper-
ate said Public Belt Railroad System
of the City of New Orleans through and
bymeans of such board or commission,
as may have been or may be organic
ed by the City of New Orleans, the
members of which shall be appointed
by the Mayor of the City of New Or
leans, with the consent of the Council,
the powers, duties and functions OF
which shall be prescribed by the City
of New Orleans. The City of New Or
leans shall always have the power and
authority to make such changes in the
! location of the tracks and roadbed Ot
the Public Belt Railroad System as
may by said city be deemed necessary
or proper. The control, administra-
ton, management and supervision OF
the construction, maintenance, opera
ton and development of the Public
Belt Railroad of the City of New Or
leans shall be exclusively vested and
remain in such board Or commission,
which shall always be separate and
distinct from that of any railroad en-