The Bossier banner., 1918-10-24
SPECIAL SESSION, 1918.
ACT No. Is.


AN ACT
70 provide for the laying out, construction
and maintenance of the Chef Menteur
and lIammOnd-New Orleans State High
ways: to provide a 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
4cbtedness: to define the duties of the
I1;ird 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
for a fiscal agent to whom the funds
shall be let for deposit and an utt
fshercas 1t IL intended to have this att
ratified BY an amendment to the Con-
>titution of the State.
Section 1. BE 1t enacted by the General
Assembly Of the State Of Louisiana, That
the Highway Engineer Of the State of Lou
for the construct tion ana completion Of the
Chef Mcntcur Road, cr.nmcncing at l'co-
pies Avenue, in the Parish Of Orleans, and
extending to place in the Parish of st.
Ialhmany ut 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 n state highway by
the Highway Department Of the State Of
Louisiana: and for the construction of all
such bridges as may be necessary for said
road: and for the construction and COM
plctiOn of II model State highway, on such
route as the Highway Department of the
State of Louisiana has designated of may
deem wise to designate, to extend approxf-
mately parallel to the Illinois Central Rail-
road from Hammond into New Orleans. and
upon said highway; provided that in the
ronstrut tiOn of the said lIammondNew
Orleans Highway no natural drain shall In
any way be In the least manner Obstructed:
and provided further. that said hammond
New Orleans Highway shall be provided
with culvcrts or other engineering outlet OF
passing the same volume Of water as Is
now passed or in the future shall be passed
by the culyerts or other engineering out
let's in the roadbed of the Illinois Central
Railroad parallel to said Ilammond-New
Orleans Highway.
That before any such contract is let as
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 tonstruc-
tiQn, completion and maintenance of the
above mentioned highways. the Secretary.
January, i0i3. shall, as soon after collec-
tion rs practicable, deposit with the State
Treasurer for the account of the Highway
motor vehicle licenses collected under the
| provisions of Act No. 26O of the General
Assembly Of the State oof Louisiana for the
year ,a,.,a l9l4 approved July 2 IDA, from the
the Baptist, Tangipahoa, st. Tnmmany and
! Orleans and the licenses SO collected shall
be paid by the State Treasurer into a spec
Fund No. .. Chef Mentcur and Hammond
New Orleans State Highways and in ad-
| ditfon to the motor vehicle licenses paid
| into said State Highway Fund No. ,,
chef Mentcur and Hammond-Ncw Orleans
| State Highways from the parishes above
enumerated, the State Treasurer shall like
wise pay into said fund such portion or
| tax collected under Article POI of the Con-
stitution ct the State of Louisiana of 1913
/ from the Parish of Orleans as may be nee.
essary to create and maintain In said fund
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 be made, and any and all
bonds potes or certificates Of Indebtedness
made or issued by the Board Of Liquidation
to provide moneys for the costs OF con-
structing said highways.
Sec. 3. Be 1t further enacted, ETC., That
ment Of the contracts provided for in Sec
| tiOn of this act. the Board of Liquidation
| of the State Debt OF the state Of Louisiana
shall have authority to issue bonds. notes
or certificates OF Indebtedness in anticipa-
4 tion of the collection and receipt OF the
taxes, licenses and revenues set apart and
dedicated to the said State Highway Fund
No. :. Chef Menteur and Hammond-Ncw
Orleans State Highways payable exclu-
| sively from the said special fund, which
! said special fund Is hereby set apart and
|
tcrcst, of any bonds. notes or certificates OF
| Indebtedness.
Sec. i. Be it further enacted, etc, That
the Board of Liquidation Of the State Debt
OF the state of Louisiana shall have power
to borrow money for the purpose of financ-
Ing the construction and completion of the
said Chef Menteur and Hammond New Or
leans Highways hcreinabove 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 de-
nominations as the said board shall pre-.
scribe. not less than Five Hundred Dollars
| each, may be registered bonds, notes or GER
titieates Of indebtedncss. or payable. to
| bearer. as may be- preferred, and shall bc
designated rs Chef Mrntcur and Hammond
| New Orleans State Highway Bonds, or
Notes or ccrtifit ates Of Indebtedness: that,
at the discretion of said board all or any
part OF said bonds notes or certificates Of
Indebtedness shall bc payable from one to
twenty twenty wars. Said bonds. notes or certi-
provisions as may be deemed cxpedicnt for
| registration In the name of the holder, or
Tor the release thereof from registration
| shall bear interest at Il rate not exceeding
five per centum per annum, payable at such
time or times the board may prescribe
ant the place or places Of payment Of prin.
cfpal and interest stall be f1xcd by the said
board. Maid bonds, notes or certificates Of
indebtedness shall be sold to the highest
bidder 1T public sale at not less than par.
Board of Liquidation Of the State Debt Of
4 the State Of Louisiana. in New Orleans,
Chicago and New York; and the money
arising from the sale thereof shall be paid
to the state Treasurer, to the account of
the Highway Department Of the State Of
louisiana and to the credit Of the State
Highway Fund No. 2, Chef Menteur and
Hammond-Ncw Orleans State Highways
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 indcbt
| e(iucxS shall le signed by the (;oyernOr tha
auditor and the Treasurer Of the state
Any coupons attached thereto shall bear the
fac simfte signature OF the Treasurer Oi
the State. Any bonds, notes or certificate,
shall be and are hereby declared ste have
the qualities Of negotiable paper under tn,
law merchant. and shall not be invalid fol
any irregularity or defect in the proceed
ings for the issue and sale thereof, an(
shall be incOntestable In the hands Of b0Mt
fde purchasers or holders thereof. No pro
Cccdfngs In respect to the issue Of any sucf
bonds. notes or certificates of indebtedness.
quired by. this act.
Sec. ). Re 1t further enacted, etc.. Tha
that the funds collected annually and di
! rccted to By set apart and paid into TIL
and Hammond New Orleans State High
/ ways" under the provisions of this act
. and by this act directed to be applied T.
and Hammond-Ns& Orleans State High
ways. are hereby pledged to pay the prin
cipal and interest on said Bonds, notes o
tertift atcs Of indebtedness as the sam
be the duty Of the Treasurer of the Stat
Of Louisiana to transfer from said !" Stat
Highway Fund No. ?, Chef Menteur AM
r Hammond-New Orleans State Highway. t
the credit Of a special account to be know
rs the " State Highway Fund No. 2 Che
Mcntenr and Hammond-New Orleans Stat
I Highway Bonds, Interest and Redemption