New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1916-10-21


stherwise, the property, ownership, US
q possession Of any lands or othe
shings necessary aor the ns.,uc ton
equipment, maintenance or operation o
any such bridge or tunnel and appurtcn
ances; and
tc) To lay out, open, close, alter O.
change the route of any roadway, non
navigable stream drain over which tn,
approaches Of any such bridge or tunnel
or over which any part Of the Public
Belt Railroad system of the City of New
Orleans shall extend.
(2) The City of New Orleans is furth-
sr hereby granted power, for the purpose
OF constructing any such bridges or tun
neis and appurtenances and for the pur-
pose OF acquiring the lands or other
things necessary thereto. to issue its OBJ
legations in such forms, numbers, de-
nominations and amounts, at such times
and prices and upon such terms and con.
ditions as to maturities, rates and pay
ment of interest and final redemption az
the said City of New Orleans may deem
advisable, subject to the following lin
itations:
ta) Except as may be herein other
wise provided, all such obligations sha 4
be secured solely and only by liens ami
mortgages upon and against such
bridges or tunnels and appuurtenances
and the lands OF Other things necessary
thereto, and by lien and pledge upon
the net revenues derived from the ope-
ration thereof, and shall be paid there
from and from no other source or sour
ees whatsoever, except as otherwise stip-
alated herein, and not by any tax or
assessment or levy upon any taxable
property in the City OF New Orleans,
nor out OF any other funds, revenues or
things Of value of said city; the true
intent and meaning hereof being that
save and except, to the extent out of
the funds, and in the manner herein
sta ted, the City OF New Orleans shall
never De liable for, nor shall it assume,
any debt, liability or obligation incurred
OF created in the execution of the pro-
visions hereof.
90 During the period of construc-
tion OF such bridges and tunnels and APP
pnrtenances and during such times as the |
revenues from the operation thereof shall |
terest on, and for the redemption Of, any
and all of the obligations hereinabove
authorized to be issued, any and all of
such obligations falling due shall be re-
deemed and all accrued interest shall bs
paid from the net revenues of the Public
Belt Railroad system of the City of New
Orleans to such extent as may be re-
CURED, after providing in the manner
prescribed by Act No. 179 of the Gen
erai Assembly OF the State of Louisiana,
session of 1908, tor the payment OF The
principal and interest of any bonds au-
thorized by said Act No. 179 of LOS,
whether heretofore or hereafter issued.
80 Amy bridges or tunnels and APP
puItenances thereof constructed, equipped,
or operated by the City of
New Orleans under the authority hereby
eonfeired, and all other property ac-
quired by the City of New Orleans I'M
Ter the provisions of this amendment,
shall form and are hereby constituted
In integral part Of the Public Belt Rail-
road system, as it now OK as it may here
lfter exist, which said system the City
II Orleans is hereby authorized to ex-
end and operate in and beyond the Par
oh Of Orleans; and the Public Belt
Railroad Commission of the City of New
orleans 10 hereby vested with the same {
'0wers with respect to the Public Belt
Railroad system - well a. with respect
o such bridges, tunnels, appurtenances
nd property, their acquisition, construc
ion, operation and developments as are I
<>I k,, Ac<
10. 179 Of the General Assembly Of the
tate of Louisiana, Session Of 1908, with I
aspect to the Public Belt Railroad a. {
established.
The Public Belt Railroad Commission &
} hereby authorized without prior au-
hority or approval therefor by the Com
Mission Council of the City Of New Or
rams, to expend out Of any of its rev c
nues and for the purpose of construct 9
ag such bridges or tunnels q sum not a
, exceed twenty five thousand dollars
n any one contract, provided, however,
lat oil disbursements beyond said sum I
hall be made only after they shall have q
sen first authorised and approved by 8
10 Commission Council Of the City OF c
lew Orleans. .
~ The Public Belt Railroad Cvm- {
lission, under such terms and conditions .
. Il may deem advisable, shall have the .
ght to switch, handle or convey, in o
Dntinuous movement, for any railroad,
aims over such bridges or through such I
lnnsls and over the main lines Of the .
ublic Belt Railroad to the depot or S
lrd Of said railroad or to any union c
lsssngsr depot or union terminal Of \
. Public Belt Railroad system; it being d
aderstood that the sole purpose Of this d
'ovision 10 to facilitate the movement
trains entering the City Of New Or q
ans On the east or west bank Of the q
ississippi River. Under no condition Of
d the Public Belt Railroad Commission v,
ant switching privileges to any railroad u
sr the Public Belt Railroad System.
(S) Any bridge or tunnel construct T
and any appurtsnances thereof and Al
y lands Or other things necessary there If
/, acquired or constructed under the IA
evisions Of this amendment, and any III
4 all property leased to or BY the City m
New Orleans for the purpose Of this Of
lsndmsnt, during the life Of the lease, di
AL b exempt from every form Of tax ii,
on. nuocinl nannnamant oY licenae and pY