The southern sentinel. (Winnfield, La.) 1883-1910, 1908-10-23
ACT No. l7s.
House BIZ No. I5s BY Mr.. Barrett.

AL NJ. liz.
House BIN No. l5s. BY Mr.. Barrett
An ACT
To authorize the City of New Orleans
to issue two million (x2,vvt .05v) dol
lara OF five (5o per cent bonds. which
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 " ide
for the disposition of the proceeds
thereof. Though such Publ. Belt
RAILROAD Commission as the l'ity Of
New Orleans may have heretofore or
the members OF which shall Ee> APP
pointed by the Mayor OF the City Of
New Orleans. and the powers, duties
and functions OF which shall be pre-
scrioed by the City Of New Orleans:
City of New Orleans and the Board of
Commissioners of the Port of New
Orleans In relation thereto, and to
louisiana an amendment to the Con-
stftution OF the State of Louisiana
authorizing the issue of said bonds
and ratifying the provisions of this
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. subject
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 b hereby authorized and
coed two million tS.. 900 900 ooJ doliars
In amount, to be dated January !. 1903.
bearing five (5) per cent per annum
interest. payable semi-annually. the
any time between July i. 1888. and
July ], 1889.
Said bonds shall be drawn payable to
bearer. and shall be styled: Public
"a
Orleans" they shall be of the denomi-
wit:
Five thousand ts.ooo, of one hundred
l to 5soe. both inclusive
One thousand (1.000) Of five hundred
(@5oo.0o) dollars each. numbered from
s001 TO 5000. both inclusive.
One thousand t1.ooo) Of one thousand
y1,ooooo) doilars each, numbered from
soo1 to 1000. both inclusive.
They shall be payable in lawful mon
sy Of the United States. with semi-an-
1 1,, interest coupons .ssaehed. due
signed by the Mayor Of the City Of New
Orleans and counteFsigned by the
Comptroller and the Treasurer Of the
City Of New o!aeans- They shall be ex-
and municipal and the tutors OF, mi
nors and curators OF interdicts shall be
authorized to tnvest all funds In their
hands In such bonds. They may be
registered and rele used from registry
under such rules and rsgulatfons as
may be prescribed ~ the C1tYaof New
Orieans. and no reg stored Y 4 shall
be negotiable: They shsn be Received
or any OF it, political eubdivistops
or municipalities in all cases where. By
law. deposits of bonds are allowed or
required to be made. a. security with
fta poiftical aubdivfaions or mnn5rinol
Section Z BE II further enacted. etc.
That az soon as constitutional author
have been obtained the City Of New
Orleans shalis be authorized to cause
said bou1D to be engraved and execut-
ed The City % New Orleans IL hereby
ter January 1. 1895. to sell said bonds,
At such ffmee ana In such numbers and
amounts. and upon such terms and con-
ditions a. the City OF New Orleans may
hall Be mace 81 ssid city. except pp UPON ss
sealed proposals. to be submitted 70
said city after advertisement for the
same shall be had for thirty (so) con-
: vsss a., ds u 10 one or more daily
Of New York ana New Orleans. respec-
lively. and peovidod thai no sale shail
Be made BY 500 atty q. price less s
% have aiways the right to reject any
and all bidA Coupons attached to said
bonds. past due ct the time OF delivery.
shall be detached and cancelled by said
>fty before delivery Of the honda.
Section Z b II further enacted, etc.
rhat the prlnelpal sud interest OF said
sonds shall Be paid by preference from
he revenues IT the Public Belt Rail-
the expenoe4 Of maintenance
md operation and all Public Belt rev.
'nues coliectihse under existtng laws
y ordlnances Or amendments thereto.
'evenueo AFTER de6urtiag the expenees
y matneenauce a14 oporat1oo. are
Hereby p|oAeed to ssocuP6 oald bonds
nd interest The Interest on said bonds
hereto. paysbLs semi.anou6lly ~ the
Ireasursr Of the City Of New Orleans, 2
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