The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1908-09-26

cans should not be sufficient TO pro- o
tide for the payment of the annual a
interest on, or for the redemption an +
,na)]v, on and after January /, 1899,
If anv of said bonds, as herelnaboVe
set 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
property within the present territorial
limits of said city special tax OF two
~ mills, beginning with and includ-
inc the year 1913, the entire proceeds
whereof shall be applied annually to
the redemption 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 (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
eouipment of Public Belt Railroad
System in and for the City OF New Or
leans, including tracks, sidings,
switches, spurs, crOssovers ana 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
eouipment of railroads, for the pur-
! chase of locomotives, switch engines,
cars and other necessary rolling stock
e for the payment of property purchased
$ or appropriated for the purpose OF
e having tracks, sidings, switches, spurs
. crossovers. etc., or for the erection o
d necessary structures and buildings in
# cident to railroads: for the purchase
j. of existing roadbedS, tracks, switches
V sidings. spurs, crossOvers, or for tn
n appropriation of the same; for tn
" purchase of barges and tugboats an
lie other property incident to the opera
l. ton of barge system; and general
d for the purchase and equipment OF a.
property movable and immovable
w necessary and proper to construct an
= equip said public belt railroad sys
- TEN. and as an incident thereto,
st barge system.
~ Section 6. Be it further enacted, etc
of That there shall be and there is heret
b. irrevocably dedicated to the Poop
,w of the City of New Orleans for perpe
as ual and exclusive public use sa
oh Public Belt Railroad System, as Il
ON same has been heretofore, or may her
tv after be established by the City
inf New Orleans, the title and use to whi'
ad said public belt railroad system shs
nm he and shall forever be in the peol
)M of the City of New Orleans.
is That all laws, servitudes, privileg
nd and rights in favor of the State
the Louisiana, the City of New Orlea
nd and the people of the City of New I
md leans. now existing in or on the Ian
red or property on or contiguous to
aid Mississippi river shall continue to
is list unimpaired until the full payne
red of the principal and interest OF
as Inonds to be issued under this Act
as Section 7. Be it further enacted, et
ald That the City of New Orleans sh
construcs> equip, maintain and op
the ate said Plslic Belt Railroad Syst
ap- of the City of NY Orleans through {
xed bymeans of suchbHard or commissl
aid as may have been Gi may be organ
of ed by the City of New Orleans,
eve members of which shall be appoir
oay- by the Mayor of the City of New
iue, leans, with the consent of the Com
pro- the powers, duties and function:
d of which shall be prescribed by the
New of New Orleans. The City OF New
DOW leans shall always have the power
e its 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
for ton, management and SUPERVISE
oses the construction, maintenance, OPP
for ton and development OF the ~
time Belt Railroad of the City OF New
said leans shall be exclusively vested