The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-09-24

pealed.' =,
Section 5. Be 1t further enacted, and
resolved, etc. That on the official pal
lots to be used at said election shall be
placed the words:
FOR the additi nal amendment of the
CITY of New Orleans Public Improve
ment Bond amendment" and the words:
Against the additional amendm@at 81
the City of New Orleans Public I'M
provemcnt Bond aHlendment.
And each cieetor shall Indicate MS
provided In the general election laws 81
the State. r. NJ. l.AMHREMONT,
Lieutenant Governor and President OF
'"' ' H. G. DuPRE.
Speaker of the House of Representatives
Approved July End. 1898:
j. Y. SANDERS,
Governor Of the State of Louisiana.
A true copy. JOHN r. MICHEL
Secretary OF state
ACT No. 179.
House Bill No. 1873 BY Mr. Barrett
AN ACT
To authorize the City of New Orleans
to issue two million (S2.9g. .Ooo) dol
lars Of five 90 per cent bonds. when
shall be exempt from taxation. to
provide for the sale thereof: to pro-
vide for the payment of the principal
and interest of said bonds; to plo\ ide
for the disposition of the proceeds
thereof through such Publ: Belt
Railroad Commission aa the CITY OF
New Orleans may have heretofore or
ganiEed. or may hereafter organize,
the members of which shall he APP
pointed by the Mayor of the City OF
New Orleans, and the powers. duties
and functions OF which shall be pre-
scrbed by the City OF New Orleans;
to define the powers and duties Of the
City of New Orleans and the Board of
Commissioners of the Port of New
np1., in wall nd n
submit to the people of the State of
Louisiana an amendment to the Con-
Stitution of the State of Louisiana
authorizing the issue of said bonds
Act.
Section l. Be It enacted by the Cen
eral Assembly Of the State of Louisiana,
twO-thirds of all the members elected
to each House cOncurring. That. subject
to the ratification of the people OF the
State Of Louisiana, by an amendment
to the Constitution of the State. herein
after submitted to them, the City of
New Orleans Is hereby authorized and
empowered to issue bonds not to eX-
coed two million t$20O0Go0D0) dollars
in amount. to be dated January /. 1909,
bearing five 90 per cent per annum
interest. payable semi-annually. the
principal OF which shall be payable at
any time between July l. 1889. and
July 1, 1859.
Said bonds shall be drawn payable to
bearer. and shall be styled: Public
Belt Railroad Bonds of the City of New
Orleans They shall be of the denomi-
nati": > and be numbered as follows, to-
wit:
Five thousand 10000 of one hundred
($lGo.00) dollars each. numbered from
l to 5000, both inclusive.
One thousand I,000) of five hundred
(s500.0o) dollars each, numbered from
5001 To 5000. both inclusive
One thousand u.Goo) Of one thousand
($1.000.OU) dollars each. numbered from
COOL to 1000. both inclusive.
They shall be payable in lawful mon
ey of the United States, with semi AN
nual interest coupons attached, que
July 1 and January l. They shall be
signed by the Mayor Of the City of New
Orleans and countersigned by the
Comptroller and the Treasurer Of the
City of New Orleans. They shall be eX-
empt from all taxation, State, parish
and municipal. and the tutors of mi
nors and curators of interdicts shall be
authorized to invest all funds in their
hands in such bonds They may be
registered and rele from registry
under such rules and regulations as
may be prescribed hy the City of New
Orleans, and no reg stored bend shall
be negotiable. They shall be received
on deposit with the state or its Officers
or any OF it's political subdivisions
or municipalities in all cases where, by
law, deposits of bonds are allowed or
required to be made, as security with
the State, or it's officers. or with any of
its political subdivisions or municipal
tiles.
Section 2. Be it further enacted. etc
That as soon as constitutional author
ity for the issuance of said bonds shall
have been obtained. the City of New
Orleans shall be authorized to cause
said bonds to be engraved and execut-
ed The City Of New Orleans is hereby
authorized and empowered. on and af-
ter January I. 1909. to sell said bonds
;,,.
amounts. and upon such terms and con-
ditions as the CITY Of New Orleans may
| deem advisable. provided that no sale
| shall be made by said city. except upon
sealed proposals to h" submitted tC
| said city after adver; cement for the
| same shall be had for thirty 900 con-
| secutivc days In one or more daily
newspaper or newspapers of the cities
| of New York and New Orleans respec-
| lively. and provided that no sale shall
| be made by said city a. a price less
| than par and accrued interest. the cit,
| to have always the right to reject ans
| and all bids Coupons attached to said
| bonds. past DIV" at the time of delivery
| shall he detached and c'nceled by said
CITY before deliver, of the bonds.
| So" ion : 81 it further enacted etc.
| That the principal and interest of said
| bonds shall be paid by preference from
| the revenues IF the Publ" Belt Rail.
| road of TIE City of New orleans. afte,
| deducting the expenses of maintenance
| and operation. and All Public Belt rev
enucS collcctihle nnd"r existing laws
| or ordinances. or amendments thereto
| and all future Public Belt Railroad
| revenues. after deinc'ing the expenses
| of maintenance AMI oneratinn. are
| hereby pledged to secure said bonds
| and interest. The intorest On said bonds
| shall be evidenced hv coupons attached
| thereto. PAYABLE Semi-annuailv bv the
| Treasurer Of the CIV of New Orleans
| on The first days of july and January
| a nf Nsy 81, all
| propriate on or before the first day.
of April and October. 1909. and annual
| ly thereafter. to provide for the pay
| ment of the semi annual interest due
| July l and Januar! ! of each subse-
Quent year. out of the revenues Of the
| Public Belt Railroad OF the City Of New
| Orleans. after deducting the expenses
OF maintenance and opera ton. which
| appropriations shall be credited on the
! books of the Urea urer of the City OF
New Orleans. to a special account to be
styled Public Belt Railroad Bond In
tereSt Account" amounts equal to the
| semi-annual interest on all bonds tina.
may nave been delivered The Treasur-
empowered and directed. and it is made
his duty. to pay any and all such cou-
pons that may be due when presented
by any holder thereof.
/ In the year 1899. and annually there
after. the City of New Orleans shall
in addition to the amount of the semi
annual interest due on the first of July
and January Of each year appropriate
on or before the first day of April out
| of the revenues of the Public Belt Rail-
road of the City of New Orleans. after
deducting the expenses Of maintenance
and operation. which appropriations
| snail be credited on the books OF the
treasurer of the City of New Orleans
6, 70 special acc punt to be STYLED Pub
lie Belt Railroad Bond Redemption Ac-
count. the sum of ore hundred tbnt7s