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

the city of New Orleana Public I'M
provemcnt Bond amendment.
And each electOr shall indicate his
vote on the proposed amendment as
provided in the general election laws OF
the state. r. NJ i.AMBREMONT,
Lieutenant Governor and President of
'"'' '''" H. G. DUPRE.
Speaker of the House Of Representatives.
Approved July End. 1onS:
J.Y. SANDERS.
Governor Of the State Of Louisiana.
A true copy. JOHN 7. MICHEL.
Secretary OF State.
ACT No. 17o.
House Bill No. 1873 BY Mr.. Barrett
+ AN ACT
To authorize the City OF Ne" Orleans
to issue two million ts2,oot.oooO dol
lars OF five 60 per cent bombs. which
shall be exempt from taxation; 10
provide for the sale thereof, TO pro-
vide for the payment of the principal
and interest of said bonds; to plo\id
for the disposition of the proceeds
thereof through such Publ: Belt
l.ailroad Commission as the 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-
scr:bed 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-
stitution of the State OF Louisiana
authorizing the issue of said bonds
ana ratifying the provisions of this
Act.
Section l. Be it enacted by the GEN
eral Assembly of the State of Louisiana,
tyN-n II :r6v IF n nrpnhaTC elected
to each House concurring. That, subjec.
| 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 bones not to ex
cect. t.vo million C$2.0O0.Gb@.00) dollars
in II cunt. to be dated January /. 1909
interest, payable semi-annually, the
principal of which shall be payable at
| any time between July 1. 1889 and
| July !, 1859.
Said bonds shall be drawn payable to
bearer. and shall be styled: Public
| Belt Railroad Bonds of the City of New
Oricr'-.,. They shall be of the denomi-
nat. and be numbered as follows. to-
| wit.
Fiv, thousand $4,000 of one hundred
! ($lG".y0) dollars each. numbered from
| l to moo. both inclusive.
One thousand 10000 of five hundred
| 5001 TO 5000. both inclusive.
| One thousand u,cnn) Of one thousand
| Isl. Ga9.OU) dollars elrh. numbered from
sooI 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 l and January /. They shall be
signed by the Mayor Of the City of New
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
| authorized to invest all funds in their
| hands in such bonds. They may be
registered and release from registry
under such rules and regulations as
may be prescribed ~ the City of New
Orleans. and no reg stored bond shall
be negotiable. They shall be received
on deposit with the state or its officers
or any of its political subdivisions
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 o.
It's political subdivisions or municipal
tiles.
Section 2. Be it further enacted, etc.
! That as soon as constitutional author
ity for the issuance of said bonds shall
have been obtained, the City of New
Orleans shall be authorized to caus,
said bonds to be engraved and execut
} ed. The City Of New Orleans is hereb,
authorized and empowered. on and at
ter January I. 1902 to sell said bonds
J 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
; shall be made by said city. except upol
sealed proposals to ne submitted t,
: said city after advertisement for tn
same shall be had for thirty 500 con
secutive days in one or more dali,
newspaper or newspapers of the elite
~ N@y~v IL H~1<
. lively. and provided that no sale shall
I be made by said city Il price les
: than par and accrued interest. the cit
to have always the right to reject an
and all bids. Coupons attached to sal
bonds. past duo at the time of delivery
shall be detached and cancelled by sal
> CITY before delivery of the bonds.
( Section ?. r" II further enacted, etc
e bords shall be naid by preference fror
the revenues Of the Publi~ Belt Rail
road OF tie City of New Orleans. afte
dcductinc the exncnscS of maintenance
!, and operation. and all Public Belt rev
e enues col1ectihle und"r c~istinc law
a or ordinances, or amendments thereto
Il and all future Public Belt Railroa
I revenues. after deducting the expense
r hereby pledged to secure said bond
4 and interest. The interest on snid bond
: shall be evidenced by coupons attache
: th:rato. payable semi-annuallv by tn
t on he first DAYS of July and Januar.
4 and the City of New Orleans shall Up
4 propriate on or before the first day
: of April and Octnb' r. 1893. and annual
: ly thereafter to provide for the pay
q ment of the semi annual interest du
$ July 1 and Januar, of each subse
e Quent year, out of the revenues of tn
d Public Belt Railroad of the City of New
h Orleans. after deducting the expense
= OF maintenance and operation, whic
4nnTODfi1 ho
o books of the Urea 1urer of the City o
: New Orleans. to a special account to b
, styled Public Belt Railroad Bond In
terest Account" amounts equal to tn
:. semi-annual interest on all bonds tina
: may have been delivered. The Treasur
I er of the City Of New Orleans is hereb
empowered and directed. and it is mad
: his duty. to pay. any and all such cou
t pons that may be due when presente
: by any holder thereof.
y In the year 1899. and annually there
: after. the City of New Orleans, shall
t In addition to the amount of the semi
( annual interest due on the first of Jul
n and January of each year appropriate
. 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
? and operation. which appropriation
shall be credited on the books of tn
Treasurer of the City of New Orlean
a 70 special acc )unt to be styled Pub
, count" the sum nf one hundred thous
and ($1o0,0oo.oo) dollars. and the sal
. Treasurer is hereby empowered and di
. reeted. 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 redemption account. on
hundred thousand ($100. 100000 dollar
J OF said bonds. in the reverse order O
their issue: and all bonds and coupon
,, retired under this Act shall be by sal,
Treasurer duly cancelled and be paste,
as vouchers in a book to be by sal,
treasurer kept for that purpose
In case of failure on the narf NJ TN