The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-10-29

Public Belt Railroad of the City of
New Orleans and to collect the reve-
nues therefrom to provide for the pay
ment of interest due or to- become due
and the redemption of bonds. as pro.
vided for in this Act. the Board of
Commissioners of the Port of New Or
Jeans is hereby authorized, empowered
and directed. and it is made it's duty
to administer and operate said Public
Belt Railroad to impose such charges
as it may fix and collect said revenues
and levy and collect the special tax
hereinafter provided for and to apply
the same to the purposes of this Act.
and to that extent and for that purpose
only. and for such time as may be nee
essary to that end, said Board of Com
missioners of the Port of New Orleans
is hereby authorized to exercise all the
ties vested under this Act in the City
of New Orleans.
Section 4. Be it further enacted. ETC.,
That in case there should be in any
year deficiency in the revenues afore-
said to pay the full interest upon all of
said bonds outstanding, such deficiency
of interest shall be funded into bonds
of such denominations as may be nee
same rate ct interest as the original
bonds and having a term to run equal
to the balance Of the term of the <origi-
nal bonds, but subject to call at will
by the City Of New Orleans; and In
case any such bonds are issued they
snail be stamped across their face I'm
| terest Funding Bonds issued subject to
Immediate CALL" and they shall be pay
able out of the special tax of two (2)
mills per annum. which shall be levied
on and after January l, l943 as here
matter provided. Said interest funding
bords shall Rave all the = aranties
and securities provided for the original
| bonds In this Act for their payment
principal and interest.
/ In case the revenues of the Public
Belt Railroad of the City of New Or
leans should not be sufficient to pro.
vide for the payment of the annual in
tcrest on. or for the remeption annual
| of said bonds, as hereinahoye set forth,
the redemption of said bonds shall be
postponed until January l, 1914, and
the City of New Orleans shall levy up
on all of the taxable property within
the present territorial limits of said
city a special tax of two f3) mills, be-
ginning with and including the year
1913. the entire proceeds whereof shall
of the bonds issued under this Act and
all interest that may be then or there-
after due thereon, and all outstanding
said bonds shall have been retired in
principal and interest L, any surplus
of said two CD mills tax in the last
year of its levy shall exist such sur
plus shall be dedicated to works of
public Improvement 70 be designated by
the City OF New Orb cans
Section 5. Be it further enacted, ETC..
i nat the CITY or new orleans Snall DO
and it is hereby authorized and ems
| powered to expend the proceeds of said
bonds for the construction and equip
ment of a Public Belt Railroad System
in and for the City of New Orleans, in
GLIDING tracks, sidings, switches, spurs,
crossovers and all appurtenances and
| accessories thereto: the building of
depots' roundhouses. warehouses.
sheds, statiors signals and all other
necessary. structures incident to the
construction and equipment Of rail-
roads. for the purchase of locomotives.
switch ,, engines sars and other neces.
property purchased or appropriated
for the purpose Of laying tracks sid.
ings. switches. spurs. crossovers. etc.
or for the erection of necessary struc-
lures and buildings incident to rail-
roads: for the purchase of existing
roaGbeds. tracks, switches, sidings.
spurs crossovers. or for the expropria-
ton of the same; for the purcha Sc OF
barges and tugboats and other proper
ty incident to the operation of Il barge
system; and generally for the purchase
and eGuipment of all property. movable
and iEnmovable. necessary and proper
to construct and equip said public belt
railroad system, and as an incident
thereto, a barge system.
Section G. Be it further enacted, ETC.
That there shall be and there is here
by irrevocably dedicated to the people
of the City of New Orleans for perpet-
ual and exclusive public use said Pub
has been heretofore, or may hereafte!
be established by the City of New Or.
leans, 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, privilege
and rights in favor Of the State OF
Louisiana. the City of New Orleans and
the people of the City Of New Orleans
: now existing in or on the lands OIL
; property on or contiguous to the Mis-.
: sissippi river shall continue 70 exist
: unimpaired until the full payment oil
: the principal and interest If the bond.
to be issued under this Act.
l Section Z. BE it further enacted, etc.
: That the City of New Orleans shall con
e struct. equip, maintain and operate sai(
r Public Belt Railroad System in the City
e of New Orleans, through and by mean!
V of such board or commission, as ma.
s have been or may be organized by tn,
v City of New Orleans, the members o
| which shall be appointed by the Mayo
d of the City Of New Orleans. with tn,
$ consent of the Council, the powers. du
v prescribed by the City Of New Orleans
r The City of New Orleans shall Away
h have the power and authority to max
+ such changes in the location Of tn
Railroad System as may by said cit,
be deemed necessary or proper. TIL
y control administration. management
II and supervision Of the construction
. ment of the Public Belt Railroad of tn
: City Of New Orleans shall be exclusive
U ~ vested and remain in such board o
!. commission. which shall always be sep
. aratc and distinct from that Of an
i railroad entering the City of New Or
= leans. and no director, officer or EN-
V ployce of any State or interstate rail
. . road shall ever be allowed TO act as
n member of said commission, or as a
II II officer of the Public Belt Railroad, o
q be employed by said Public Belt Rail
= road. and no rights or privileges shall
:, be granted to any railroad company t
y control. manage, use or operate tn
5 said Public Belt Railroad System. o
!, any part heceof, and said Public Bel
- Railroad System shall be and renal
=. the sole property Of the people of tn
y City of New Orleans at all times. an
r shall in no way or manner ever be ny
:. pothecatod or alienateG, provided. how
- Belt Railroad of the CT of New o.
leans, after the deduction of the ea
d penses OF maintenance III operation
n shall be and. remain pledged for tn
r. interest, the issue of which is herei
% authorized; to such cxter,t as may b
>, necessary under this Act.
e Section 8. Be it further enacted, etc
q That all the provisions of this Act sha
Il constitute a contract be zen the hole
,s er of the bonds issued thereundes, til
"a State Of Louisiana, the City of Ne
&c Orleans and the Board Of Commission
1s ers of the Port of New Orleans
"A Section 8. Be it further enacted, etc
- That at the congressional election
:, be held in this State on the first Tue.
~ day. after the first Monday in tt
:, month of November, 1908. the follo,vin
"a amendment to the Constitution of tt
20 State of Louisiana shall be submittI
l. to the electors. to-wit:
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