The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1918-09-19
SPECIAL SESSION. 1918.

House Bill No. 81 BY Mr.. Alexander
AN Att
To provide for the laying out, construction
and maintenance of the Chef Mcnteur
and liammond-New Orleans State High
ways: to provide revenue for carrying
out the objects and purposes Of this act
TO authorize the funding OF said revenue
INTO bonds. notes or certificates of in
Gebtedness; to define the duties of the
Ioard of Liquidation of the State Debt
OF the State of Louisiana, the State High
way Engineer, the State Treasurer, the
Secretary OF State and the State Auditor
In connection Herewith: and to provide
Tor a fiscal agent to whom the funds
shall be let tor deposit: and an act
whereas it IL intended to have this act
ratified by an amendment to the Con-
stitutiOn of the State.
Section l. Bc it enacted by the General
Assembly OF the State of Louisiana That
the Highway Engineer of the State of Lou
isiana is hereby authorized to let contracts
for the construction and completion of the
chef Mentcur Road, commencing ut Peo-
pies Avenue, in the Parish of Orleans and
extending to i place in the Parish Of st.
Tammany at the boundary line between the
States of Louisiana and Mississippi oppo-
site. or nearly opposite, to Logtown, in the
State of Mississippi. which said road has
already been begun and contracted for, and
has been designated as state highway by
the Highway department of the State Of
Louisiana; and for the construction of all
sucn bridges as may be necessary for said
plction OF a model State highway, on such
route as the Highway Department Of the
state OF Louisiana has designated of may
nrsm nv Wise 90 d.sig ma to extend approx
road from Hammond into New Orleans and
in the tonstrut ton of the necessary bridges
upon said highway: provided, that in the
Orleans Highway no natural drain shall in
any way be in the least manner structed
and provided further. that said Hammond
New Orleans Highway shall be provided
with culverts or other engineering outlet of
passing the same volume of water as Is
now passed or in the future shall be passed
by the culverts or other engineering out
let's in the rOadbed of the Illinois Central
Railroad parallel to said IIammOnd-New
Orleans Highway.
That before any such contract Is let us
herein provided, same shall be approved by
the Board Of Liquidation of the State Debt
OF the State of Louisiana.
Sec. =. BE 1t further enacted, etc. That
In order to provide funds for the construc-
a ., completion and maintenance of the
abo:e mentioned highways. the Secretary
OF State from and after the LIST day of
January, 1919. SHALL as soon after collec-
ton as practicable, deposit with the State
Treasurer for the account of the Highway
department Of the State of Louisiana all
motor vehicle licenses collected under the
provisions of Act No. 2GO Of the General
assembly OF the State oof Louisiana for the
year IDA approved July 8: 1914. from the
parishes of Jefferson, st. Charles, st. John
the Baptist, Tangipahoa, st. Tammany and
Orleans. and the licenses SO collected shall
be paid by the State Treasurer into Il spee-
inl fund to be known us State Highway
Fund No. ,. Chef Menteur and Hammond
New Orleans State Highways. and in adj
h int to the motor vehicle licenses paid
thef Menteur and IIammond-New Orleans
State Highways" from the parishes above
enumerated, the State Treasurer shall like
wise pay into said fund such portion or
sufficient amount out of the special road
tax collected under Article POI of the Con-
stitutiOn of the State of Louisiana OF 1913
from the Parish Of Orleans as may be nee
essary to create and maintain in said fund
"a sum ofO Sixty Thousand Dollars per year,
which said special fund is hereby set apart
and dedicated for the purpose of paying
any and all contracts heretofore made and
hereafter to he made and any and all
bonds, notes or certificates of indebtedness
made or issued by the Board of Liquidation
of the State Debt Of the State Of Louisiana
to provide moneys for the costs Of CON
stfucting said highways.
Sec. :. BE 1t further enacted, ETC., That
In order to provide ready funds for the pay
ticn l of this act, the Board of Liquidation
Of the State Debt of the State of Louisiana
shall have authority to issue bonds, notes
or certifie ates Of Indebtedness in anticipa-
ton of the collet ton and receipt Of the
taxes, licenses and revenues set apart and
Dedicated to the said :. State Highway Fund
Nc; :, chef Menteur and IIammond-New
>,
sively from the said special fund. which
said special fund Is hereby set apart and
dedicated to the payment, principal and in
terest. OF any bonds. notes or certificates of
See. 4. Be it further enacted, etc. That
the Board of Liquidation of the State Debt
OF the State of Louisiana shall have power
to. borrow OF, money for the purpose Of finance
said Chef Mcnteur and Hammond New Or
leans Highways hereinabove referred TO,
and to that end may issue bonds, notes or
certificates of Indebtedness in any amount
not to EXCEED the sum of Seven Hundred
Thousand Dollars, In such sums and &C.
nominations as the said board shall pre-
each. may be registered bonds, notes or GER
tiicates of indebtedness. or payable to
bearer. as may be preferred, and shall be
dcsisnated ms Chef Mcnteur and Hammond
New Orleans State Highway Bonds. or
Notes or Certificates of Indebtedness: that,
at the discretion of said board all or any
part OF said bonds. notes or certificates Of
twenty years. Said bonds, notes CT certi-
fitates Of Indebtedness may contain such
provisions as may be deemed expedient for
registr;,tion In the name Of the holder. or
for the release thereof from registration |;
shall bear interest at Il rate not exceeding
five per ecntum per annum. payable at such
time or times ais the board may prescribe
eipal and interest shall be liked by the said
board. Said bonds, notes or certificates OF
Indebtedness shall be sold to the highest
i bidder II public sale ct not less than par
Board OF Liquidation OF the State Debt OF
the state Of Louisiana, in New Orleans
Chicago and New York: and the money
arising from the sale thereof shall In paid
to the state Treasurer. to the account of
the Highway Department of the State of
Louisiana. and to the credit of the " State
Hammond-Ncw Orleans state Iiiyhways.'
and only paid out on the warrant OF the
State Highway Engineer. approved BY the
President of the Board of State Engineers.
Said bonds, notes or certificates of indebt-
edness shall be signed by the Governor the
Auditor and the Treasurer Of the State
Any coupons attached thereto shall bear the
fac simiic signature of the Treasurer of
the State. Any bonds notes or certificates
! of Indebtedness issued by virtue hereof,
shall be and are hereby declared to have
the qualities Of negotiable paper under the
law merchant, and shall not bc invalid for
any trrcgularfty or defect in the proceed
ings for the issue and sale thereof. and
shall BIZ incOntest.ble in the hands Of bona
ceedings In respect to the issue of any such
bonds. notes or certificates of indebtedness
shall be necessary, except such are re-
Guired by this act.
that the funds collected annually and di-
rected to BIZ SGT apart and paid into the
| State Highway Fund No. =, chef Menteur
and Hammond New Orleans State Hig;l-
and by this act diret ted to be applied to
| the construction of the said Chef Mentcur
| and IIammond-NPw Orleans State High
ways, are hereby pledged to pay the prin-
cipal and interest on said bonds, notes or
| certificates of Indebtedness as the same
shall become due and payable. and 1t shall
| be the duty of the Treasurer of the State
of Louisiana to transfer from said State
Highway Fund No. >. Chef Mcnteur and
| Hammond-Ncw Orleans State Highway to
| the credit of a special account to be known
l S&.f.x Ifrt1sr stSx.<
| Menteur and Hammond New Orleans State
Highway Bonds, Interest and Redemption