The southern sentinel. (Winnfield, La.) 1883-1910, 1908-10-02
ACT No. 17s.
ACT No. 17s.
House Bin No. 1853. BY Mr.. Barrett
AN ACT

House BIZ No. 1853. BY Mr.. Barrett
AN ACT
To authorize the City of New Orleans
to issue two million (S2,VVt .00v) dol
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 o, ide
thereof, through such Publ, Belt
Railroad Commission az the city OF
New Orleans may have heretofore or
xanixed. or may hereafter organize.
the members Of which shall be APP
pointed by the Mayor OF the City Of
New Orleans. and the powers, duties
and functions OF witch shall be pre-
scribed by the City of New Orleans:
to define the powers and duties of the
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-
stitution OF the State of Louisiana
authorizing the issue of said bonds
and ratifying the provisions of this
Section I. Be It enacted by the Gen.
two-thirds Of ali the members elected
to each House concurring, That. subject
to the ratification Of the people of the
State OF Louisiana. by an amendment
to the Ccnstitution Of the State. herein-
Oh
New ORPHANS II hereby authorized and
empowered to issue bonds not to ex-
coed two million $4,000. ooo.0o) dollars
In amount. to be dated January /, 1903,
interest. payable semi annually. the
principal Of which shall be payable at
any time between July i. 1889. and
Said bonds shall be drawn payable to
bearer, and shall be styled: Public
Belt Railroad Bonds Of the City Of New
OrleansL" They shall be of the denomi-
natiors and be numbered as follows. to-
Five thousand (s.ooo) of one hundred
(S1oo.o0) dollars each. numbered from
to 5000. both inclusive.
One thousand u.oo0) OF five hundred
60o1 10 5000. both inclusive.
One thousand u.oool of one thousand
(S1 ,000.oo) dollars each, numbered from
so0l to 1000. both inclusive.
They shail be payable In lawful mon
nual interest coupons attached. due
July / and January 1. They shall be
signed by the Mayor OF the City of New
Orleans and countersigned by the
City Of New Orleans. they shall be ex-
empt from all taxation, State, parish
and municipal. and the tutors of nil
nors and curators OF interdicts shall be
sand uomd Al Ths1 m sAs ss
regfstered and rele 1sed from registry
under such rules and regulations az
may be prescribed ~ the City of New
Orleans. and no reg stored bond shall
on deposit With the state or its officers
or any Of it, political subdivisions
or MUNICIPALITIES in all cases where. by
law. deposits OF bonds are allowed or
the State. or its officers. or with any OF
its political subdivisions or municipal
Section d. pc it further enacted. etc.
ity Tor the issos nee 81 said Is bonds i shall
have been obtained. the City of New
Orleans sh4n be authorised to cause
said {eonde to be engraved and execut-
cd The CITY Of New Orleans Is hereby
ter January 4. 1903. to sell said bonds,
amounts. ana upon such terms ana con-
eitions g the City Of New Orleans may
shall be made BY said city. except upon
sealed proposals to be submitted TO
said city AFTER advertisement for the
same shah be had for thirty (so) con-
NEWSPAPER or newspapers OF the cities
OF New York and New Orleans. respec-
lively and provided that no sale shall
be made by. said city q: a price less
to have always the right to reject any
and all bfds.. Coupons attached to said
oonds.. pact due ct the time Of delivery.
shall be detached and cancelled by said
city before delivery OF the bonds
Sec-fonis b. II further enacted. etc
That the principal and interest Of said
bonds shall be paid by preference from
the revenues IT the Public Belt Rail-
road Of the City Of New Orleans. after
deductinR the expense<e Of maintenance
and operation. and all Public Belt rev.
enues collectihle under existing laws
or ordinances or Srnend>reuts thereto.
Ind all future Public Belt Railroad
revenues: AFTER 4edue ting the expenses
hereby pledked TO eecure said bonds
snd interest," The interest on said bonds
.han be evidenced Nv coupons attached
hereto. PAYABLE semi-annually by the
IN the first DAYS Of July and January.
1nd the City Of New Orleans shall ap-
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