The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1908-10-24

loans should not be sufficient TO pro 0
vide for the payment of the annual d
interest en-. or for the redemption an +
nrally. on and after January !, l9j5'
OF any Of said bonds, as hcrelnahoFe
;at 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
oroDert} within the present territorial
limits of said city Il special tax OF two
(2) mills. beginning with and lnclud-
mo the year 1913. the entire proceeds
whereof shall be applied annually to
thn radpmp1iOn of the bonds issued I'M
der this Act and all interest that may
he 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
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
@ eouipment Of a Public Belt Railroad
@ System in and for the City OF New Or
$ leans, including tracks, Sldlh9S'
# switches, spurs, crossoverS ana al
!. appurtenances and accessories there
= to: the building OF depots, round
, houses. warehouses, sheds, stations,
j. SIGNALS and all other necessary struc-
y, turos incident to the construction and
,e equipment of railroads, for the pur-
Il chase of locomotives, switch engines,
g cars and other necessary roiilng STOCK
,e for the payment Of property purchasec
IS or appropriated for the purpose 0
ne having tracks. sidings, switches, spurs
( crossOyers, ETC., or for the erection 0
ri necessary structures and buildings IN
81 cidcnt TO railroads: for the purchas
H. Of existing rOadbeds, tracks, switches
,y silinUs. spurs. CrCSSOVerS. Or for til
er appropriation of the same: tor III
by purchase of bargGs and tugboatS an
de othcr property incident to the opera
III ton Of q barge system: and general
ed for the purchase and equipment OF a
property movable and immovabl'
H., necessary and proper to construct an
-, equip said public belt railroad sy
49, tenn. and as an incident thereto,
rct barge system.
an ;3ectionG BE it further enacted, etc
Of That there shall be and there is herel
Db- ilrev0cably dedicated to the Poop
lew of the City OF New Orleans for perpt
Sos ual and exclusive public use Sa
ich Public Belt Railroad System, as /
on same has been heretofore, or may her
,itr after be established by the City
mt New Orleans. the title and use to viii
,ad said public belt railroad system sh;
ann be and shall forever be in the peol
NJ 4 A,,l
0O) OF the city OF ne" orleal'S'
r is That all laws. servitudes, privileg
and and rights in favor of the State
the Louisiana, tho City OF New Orlea
ard and the people Of the City Of New
0nd leans. now existing in or on the lar
lred or property on or contiguous 70
said Mississippi river shall continue to
, is list unimpaired until the full pawn
ired of the principal and interest OF
cas- bonds 10 be issued under this Act.
Il ''S Section !. BE it further enacted, G
Saio That the City OF New Orleans sh
construct, equip, maintain and OF
the ate said Public Belt Railroad Sys'
APP of the City OF New Orleans through
fixed bymeans of such board or commissi
said as may have been or may be organ
y Of ed by the City Of New Orleans,
eve members OF which shall be appolr
pay by the Mayor Of the City OF New
due, leans, with the consent of the COur
pro- the powers, duties and functions
rd OF which shall be prescribed by the
New of New Orleans. The City of New
pow leans shall always have the power
lie It's authority to make such changes in
said location of the tracks and roadbe
such the Public Belt Railroad System
said may by said city be deemed necesS
the or proper. The control, admins
d Tor ton, management and supervise
poses the construction, maintenance, op
ID Tor ton and development of the TT
time Belt Railroad of the City OF New
sad leans shall be exclusively vested