The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-10-01


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
vided for in this Act. the Board OF
Commissioners of the Port of New Or
leans is hereby authorized, empowered
and directed, and 1t 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 nec-
essary to that end, said Board Of Com
missoners Of the Port of New Orleans
is hereby authorized to exercise all the
powers AMI is charged with all the du-
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 q 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
essary and convenient. hearing. the
hand rate ate 81 interest as the original
| 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
shall be stamped across their face In
terest Funding Bonds issued subject to
immediate CALI and they shall be pay
able out of the special tax of two fal
mills per annum, which shall be levied
on and after January !, 1919 as here
iHafter provided Said interest funding
bonds shall haye all the sa,ranties
and securities provided for tbs original
bonds In this Act for their payment
PRINCIPAL and interest.
In case the revenues of the Public
Belt Railroad Of tho City of New or.
vide for the payment of the annual in
tcrest on, or for the remeption annual
ly. on and after January l, 1889, or any
Of said bonds. as hereinabove set forth.
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
ginning with ana including the year
1913 the entire proceeds whereof shall
be applied annually to the redemption
of the bonds issued under this Act and
all interest that may be then or there
after due thereon. and all outstanding
interest funding bonds" until all Of
SAID bonds shall have been retired in
pfincinai and interest. Il any surplus
year of it's levy shall exist, such sur
plus shall be dedicated to works al
public Improvement to be designated BY
the City of New ORR cans
Section 5. Be it further enacted, ETC..
That the City of New Orleans shan be
and it is hereby authorized and em=
bonds for the CONSTRUCTION and eauip!
ment of a Public Belt Railroad System
in and for the City OF New Orleans, in=
GLIDING tracks; sidings, switches, spurs,
accessories thereto: the building o:
depots, rounGhouses, warehouses,
sheds statinrs. signals and all other
necessary structures incident to the
~ z md Inn,
roads. for the purchase Of locomotives,
switch engines, ears and other neees-
sary rolling stock; for the payment of
property purchased or appropriated
ings. switches. spurs, crossovers. etc,
or for the erection of necessary strue-
lures and buildings incident to rail-
roads: for the purchase of existing
roadbcds, tracks. switches. sidings.
spurs crossovers. OF for the expropria-
ton Of the same; for the purchase of
barges and tugboats and other proper
ty incident to the operation OF a barge
system; and generally for tho purchase
and equipment of all property. BILE
and immovable., necessary and proper
railroad system. and as an incident
thereto. barge system.
Section 6. Be 1t further enacted. etc.
That there shall be and there Is here
of the City of New Orleans for perpet.
ual and exclusive public use said Pub
lie Belt Railroad System, as the same
has been heretofore. or may hereafter
be established by the City of New Or
leans. the title and use to which said
public belt railroad system shalt be
and shall forever be in the people oil
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 Orleans
, now existing in or on the lands OF
. | m he
sissippi river shall continue TO exist
, unimpaired until the full payment oil
, the. principal and interest of the bonds
to be issued under this Act.
, Section Z. Re it further enacted. etc.
. That the City of New Orleans shall con.
, struct equip. maintain and operate safe
. of New Orleans, through and by means
of such board or commission. as may
! have been or may be organized by The
' City of New Orleans. the members Of
! of the City of New Orleans with thu
: consent of the Council. the powers. du,
8 ties and functions of which shall bt
, prescribed by the City of New Orleans
, have the power and authority to max,
: such changes in the location of til,
! tracks and roadbcd of the Public Bel
haiir aios system as may by said cit,
y control. administration. management
:, and supervision Of the construction
J. maintenance. operation and develop
' ment of the Public Belt Railroad of tn.
e City of New Orleans shall be exclusive
: ly vested and remain in such board o.
commission. which shall always be sep
: arate and distinct from that of an!
!; railroad entering the City of New Or
q leans. and no director, officer or EN-
:. plcyee of any State or interstate rail
} road shall ever be allowed to act as
n officer of the Public Belt Railroad, O.
o 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 TIL
s said Public Belt Railroad System. o
:. any part the reof. and said Public Bel
u Railroad System shall be and remain
8 the sole property of the people Of tn
Y City of New Orleans at all times. an,
y shall IN no way or manner ever be by
pothecatad OF alienated. provided, how
:; ever, that the revenues of said Publ
q Belt Railroad of the CT of New Or
leans, after the deduction of the ex
/; penses OF maintenance IN opera tior
q shall be and remain pledged for tn
u payment Of the bonds i'll principal an
: interest. the issue OF which is herci
r authorized; to such exert as may
e necessary under this Act.
: Section s. Be it further enacted, etc
: That all the provisions of this Act sha
}. constitute contract be IS ZEN the hold
q er of the bonds issued thereunden, tn
S State of Louisiana, the City of Ne,
e Orleans and the Board Of Commission
$ ers of the Port of New Orleans.
: Section 8. Be it further enacted, etc
q That at the congressional election t
e be held in this State on the first Tues
5. day. after the first Monday. in. tn
?. month of November 1905 the followin
i amendment to the Constitution of tn
3 State of Louisiana shall be submittc
= to the electors, to-wit: -
;; | 7. q