The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1908-10-03

vide for the payment VI pho ''L'i"'i
interest on, or FOR the redemption an I
nuaNy, on and after January |, 1853,
Of any OF said bonds, as hereinaboVe
set forth. the redemption OF sald Dohos
shall be postponed until January !,
1g44. and the City Of New Orleans
shall levy upon ali OF the taxable
property within the present TERRITORIAL
limits oi said city special tax OF two
e. mills. beginning with and includ-
mo the wear 1913. the entire proceeds
whereof shall be applied annually to
the redemption of the bonds issued IN
dar This Act and all interest that may
he then or thereafter due thereon, ana
D all outstanding interest funding
bonds. Y until all of said bonds shall
have been retired in principal and m
terest # any surplus Of said two ~
mills tax in the last year OF It's levy
shall exist, such surplus shall be
dedicated to works of public improve
ment to be designated by the City OF
c New Orleans.
Section S. BE it further enacted,
] etc.. That the City of New Orleans
: shall be and it is hereby authorized
= and empowered to eXpend the proceeds
4 of said bonds for the construction ana
e equipment of a Public Belt Railroad
Q ISvstem in and for the City of New Or
< leans. including tracks, sldingS,
If switches, spurs, crossovers and all
" appurtcnances and accessories there
>, to: the building of depots, round
p, houses. warehouses, sheds, stations,
j. signals and all other necessary struc-
- tures incident to the construction ana
ne equipment Of railroads, for the puf-
ID chase of locomotives, switch engines,
O. cars and other necessary rolling stock;
&c for the payment Of property purchased
rs or appropriated for the purpose OF
he LAYING tracks. sidings, switches, spurs,
*, crOssovers. ETC., or for the erection o.
ed necessary structures and buildings IN
,st cident to railroads: for the purchase
ii Of existing roadbeds, tracks, switches
AN sidings, spurs, crOSS0VerS, or Tor liz
.er eynr0priation OF the same: for tin
nv purchase of bargeS and mgboatS AM
de other property incident to the opera
~ ton of barge system: and general,
ed for the purchase and equipment OF al
property movable and immoVable
Nv necessary and proper to construct an
- equip said public belt railroad sys
y, TEN. and as an incident thereto,
rst barge system.
an Section 6. Be il further enacted. etc
of That there shall be and there is hereb
1b- irrevocably dedicated to the peopl
lew of the City of New Orleans for perpe
ses nal and exclusive public use sal
ich Public Belt Railroad System, as II
ON same has been heretofore, or may her.
ity after be established by the City
mt New Orleans, the title and use to whie
rad said public belt railroad system sha
nm be and shall forever be in the poop
0o) of the City of New Orleans.
r is That all laws, servitudes, privileg
and and rights in favor of the State
the Louisiana. the City Of New Ortea1
and and the people of the City Of New U
ond leans. now existing in or on the lam
Ired or property on or contiguous to t
aid .MisSissippi river shall continue to G
is ist unimpaired until the full payne
ired Of the principal and interest CT
cas- bonds 10 be issued under this Act.
as Section 7, Be it further enacted, cit
sara That the City of New Orleans sh;
construct, equip, maintain and OPP
the ate said Public Belt Railroad SYST
APP of the City of New Orleans through a
liked bymeans of such board or commissit
said as may have been Or may be organ
y OF ed by the City Of New Orleans,
eve members of which shall be appoint
pay by the Mayor ofthe City of New
due, leans. with the consent OF the Count
pro- the powers. duties and functions
ID of which shall be prescribed by the c
New of New Orleans. The City of New
pow leans shall always have the power
e its authority to make such changes in
said location of the tracks and roadbed
such the Public Belt Railroad System
said may By said city be deemed necess;
the or proper. The control, adminlst
for ton, management and supervisor
poses the construction, maintenance, ope
d Tor ton and development OF the Pu'
time Belt Railroad of the City OF New
said leans shall be exclusively vested
Port remain in such board or commissl
rZed which shall always be separate
narg- distinct from that of any railroad
T this +arin,r the CITY of New Orleans,