The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-10-15


lots to be used at said election shall be |
placed the words:
For the additional amendment of the |
City Of New Orleans Public Improve
Against the additional amendment OF
the City of New Orleans Public I'M
provement Bond ancadnens.
And each elector shall indicate ms
provided in the general election laws OF
the State P. NJ. LAMDREMONT. i
Lieutenant Governor and President Of
the Senate H. G. pupRE. |
Speaker of the House of representatives
Approved July End. 1908.
J. Y. SANDERS,
Governor OF tho State of Louisiana.
A true copy. JOHN T. MICHEL,
-. Secretary of State,
ACT No. 179.
House Bill No. 1888 By Mr.. Barrett
AN ACT
To authorize the City of New Orleans
to issue two million (S2,o1t,0 o0) doll
lars of five 90 per cent bonis: whlch
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 pi on ide
for the disposition of the proceeds
thereof through such Publ; Belt
Railroad commission as tho City OF
New Orleans may have heretofore or
ganized. 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-
scribed 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
Orleans in relation thereto. and to
submit to the people of the State OF
Louisiana an amendment to the Con-
Nf tho f.rtT of IcI q
authorizing the issue of said bonds
and ratifying the provisions of this
Act.
Section 1. Be it enacted by the GEN
eral Assembly of the State of Louisiana,
two -thirds of all the members elected
to each House concurring. That. subjecr
| 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 ts2.000,G33.0 dollar:
| bearing five go per cent per annuni
! interest, payable semiannullly, the
! principal of which shall be payable at
any time between July l, 1889, and
Said bonds shall be drawn payable to
bearer, and shall be styled: Public
| Belt Railroad Bonds of the City of New
| Orie.rs.' They shall be of the denomi
| nat! and be numbered as follows to-
wit:
! Five thousand (5.OO0) of one hundred
I ($lGooO) dollars each. numbered from
| l to 5000. both inclusive.
| One thousand 1.O00) of five hundred
| ($5O0.00) dollars each. numbered from
5O01 to 5000. both inclusive.
One thousand 1..3e) of one thousand
| ($1, 100000 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, due
July and January / They shall pc
| 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 used from registry
under such rules and regulations as
may be prescribed hY the City of New
Orleans, and no reg stored bond shall
be negotiable. They shall be received
on deposit with the state or it's Officers
or municipalities in all cases where, by
law, deposits of bonds are allowed OF
required to be made. as security witt
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 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 hereb,
1 authorized and empowered. on and at
ter January i. 1909. to sell said bonds
; at such times and in such numbers ant
amounts. and upon such terms and con
ditions as the City of New Orleans ma.
!. deem advisable provided that no sal,
|
sealed proposals to he submitted t,
r said city after advert scment for thu
l same shall be had for thirty 500 con
t secutive days in one or more dali,
! newspaper or newspapers of the cite
of New York and New Orleans. respec
. lively. and provided that no sale shall
n be made by said city price les
9 than par and accrued interest. the cit,
( to have always the right to reject an
4 and all bids. Coupons attached to sal
: bonds. past due at the time of delivery
shall be detached and Cancelled by sal
8 citv before delivery of the bonds
t ec-ion 3 Be it further enacted. etc
d That the principal and interest of sal
e bonds shall be paid bv preference fro1
road of TIE City of New Orleans. afte
: deducting the expenses of maintenance
|, and operation. and all Public Belt rev
e enues eollectihle under existing law
h and all future Public Belt Railroa
f revenues. after deduc ting the expense
e of maintenance and cneration. ar
r hereby pledged to secure said bond
d and interest The interest on said bond
: shall be evidenced Nv coupons attache
: therato. payable serai-annuaily by tn
d Treasurer Of the CIV of New Orleans
t on the first DAYS of July and Januar.
4 and the City of Nr-~ Orleans shall ar
4 proprfate on or before the first day
: OF April and Octnbt r 1899. and annual
l. ly thereafter. to provide for the pay
d ment of the semi annual interest du
IS July l and Januar! l of each SubSe
e quent year. out of the revenues Of TIL
d Public Belt Railroad of the City of Ney
h Orleans, after deducting the expense
- OF maintenance and operation, whic
e appropriations shall be credited on tn
% books of the Trea surer of the City Q
l. New Orleans. to a special account to b
y styled Public Belt Railroad Bond In
terest Account" amounts equal to TIL
!. Semi-annual interest on all bonds tina
+ may have been delivered. The Treasur
It er of the City of New Orleans is hereb
t. empowered and directed. and it is mad
: his duty. to pay any and all such cou
II pons that may he due when presente
i by any holder thereof.
" In the year 1889. and annually there
r after. the City of New Orleans, shall
Il In addition to the amount of the semi
q and January of each year appropriat.
- on or before the first day of April. on
OF the revenues of the Public Belt Rail
= road of the City of New Orleans, afte
= oeductlng the expenses of maintenance
!, and operation. which appropriation
|. shall be credited on the books of tn
- treasurer of the City of New Orlean
= 70 special acc )unt to be styled Pub
lie Belt Railroad Bond Redemption Ac
: count" the sun, nj one hundred thous
and (s100.000.00) dohars. and the sal
: Treasurer is hereby empowered and di
= rected. and it is made his duty to pa
= on the first day of July of the yea
!. 1899. and annually thereafter, out o
said bond re redemption account. on