New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-01-22

ORLEANS, THURSDAY, JANUARY % 1874.

of not less than five thousand dollars and
by imprisonment at hard labor for not less
than one year.
SEC. 6. Be it further enacted. etc, That
notice of the adoption of this act shall be
published bv said board in one or more
Journals of New Orleans, New York. Lon
don, Paris and Amsterdam.
SEC. Z. Be it further enacted. etc. That
a tax Of i've and half mills on the dollar
of the assessed value of all real and per.
sonal property in the State is hereby annu-
| ally levied, and shall be collected tor the
purpose of paying the interest and prin.
| ciple of the consolidated bonds herein au.
| thorized, and the revenue derived there
| from is hereby set apart and appropriated
to that purpose, and no other. And that it
shall be deemed felony for the Fiscal
Agent or any officer OF the State or board
! of iq uiGa atOrs to divert the said fund from
! its legitimate channel as provided. and
upon conviction the said party shall be
/ liable to Imprisonment for net more than
| ten years or less than two, at the discretion
| Of The court. If there shall, during any
year, be . surplus arising from said tax
after paying all interest falling due in that
year, such surplus shall be used for the pur-
chase and retirement Of bonds authorized
! by this act said purchases to be made 10y
the said board Of liquidation, from the
lowest offers, after due notice; provided
! that the total tax for interest and all other
State purposes, except the support of public
! sch ools, shall never here after exceed twelve
and half mills on Che dollar. The interest
tax aforesaid shall be con tinuing annual
| tax until the said consolidated bonds shall
be paid or redeemed, principal and interest;
and the said appropriation shall be d con-
! cinuing annual appropriation during the
same period, and this levy and apprOpria-
ton shall authorize and make il the duty
of thu Auditor and Treasurer. and the said
| board, respectively, to collect said tax an
Aually, and pay said interest and redeem
| the said bonds until the same shall be fully
discharged.
SEC. s. Be it further enacted, ETC., That
| the bonds and valid warrants outstanding
at the time of the passage of this act, SHALL
as fast as they are received ID exchange for
| consolidated bonds, be Cancelled and de-
| stroyed by tine said board of liquidation, and
consolidated bonds purchased as provided
| for in section seven Of this act, shall be can
celed and destroyed after public notice has
| been given Of the same in the official jour
nal of the State, in the presence Of as many
| citizens as may desire to be present, in like
manner, and within ten days after such de-
struction, in each case process verbal of
| the same shall be published and report
made to the General Assembly on the first
Monday of every year, by said board
| it shall be the duty of the Audito. in bis
/ next annual report to give detailed ac
| count of the procee dings had under this act,
including the amount of new bonds issued,
| the amount of old bonds and valid warrants
Cancelled, the amount Of the same outstand-
| ing, and the cost Of the exchange; and an
nually thereafter full and exact statement
| Of the condition of the public deb. under
the operations Of this act.
10 Re II furrtar npacteA TT a.
any judge, tax collector, or any officer of
the State, obstructiDg the execution OF this
act, or any par: Of II, or failing 10 perform
his official duty Hereunder, shall be deemed
guilty Of q misde1neanor. and on conviction
:nereOf shall be punished by Imprisonment
not exceeding five years, and by tne not
exceeding two Thousand dollars, at the dis.
cretion OF the court: provided. that this
section shall in no wise preiudice Or affect
the criminal proceeding under section tive
o. this act.
SEC. Ii. Be il further enacted, etc, Tha.
each provision of this act shall De. and is
hereby declared to be, contract between
the State of Louisiana and each and every
holder of the bonds issued under this act.
SEC. II. Be it further enacted ETC.. That
all grants of State aid heretofore made,
whether of bonds, Endorsements, subscrlp.
tions of stock, or otherRise. which have
becoue lapsed or forfeited, be and the
same are hereby repealed and annuiled,
nor shall the State hereafter modify, no.
vate, or extend any contract heretofore
made fer the giving Of State aid 70 any
form or under any preiext.
SEC. 13. Be it further enacted. etc. That
the entire State debt, prior to the year of
our Lord nineteen hundred and fourteen,
shall never be increased, directly or indi-
rectly, beyond the sulL OF fifteen millions OF
dollars hereby authorized. It being the III.
tent and object OF this act. aid OF the eX.
changes TO be effected thereunder, 20 reduce
and restric: the whole indebtedness Of the
State t" a sum not exceeding fifteen millions
Of dollars. and to agree with the holders Of
the consolidated bonds to he issued here
under that said indebtedness shall not be
increased beyond said sum during said
period.
Sec. II. Be j. further ct acted, etc. That
an' tax collector WHO shalt turn over any
money or warrants by hin. collected, 20 any
person except to the STATE Treasurer, shall
De deemed guilty Of d misdemeanor, and
shall, Oh conviction, be subject TO the penal.
ties prescribed in section ten Of this act, and
shall, III addition thereto, be liable in
damages in double the amount so turned
over; and any State officer requiring or de-
mandlng that said taxes snail To- turned
over to hun. except the Treasurer OF the
State. shal! be Liable, on conviction, 20 the
same penacIe. do art pressr.oe0 Il tAI5 sec
ton.
SEC. Is. Be i. further enacted. etc. Tha.
from and alter the passage of this act IN.
I'll the first day of July. l8.!, all valid Au
ditors warrants issued for debts due prior to
January |, 1874. shall be received tor all
Dack taxes, licenses and interest and penal.
ties thereon due prior tn said first OF Jan.
uary, 1874, except two mills for school fund.
three mills for levee construction and re.
pair fund, and two mills to the interest
fund for the purpose Of paying any interest
IN arrears accruing on the bonded debt OF
the State prior to the passage of this act.
Sec. I6. Be it further enacted. etc. That
no court. or judge thereof. shall have power
90 en- oiD the payment o! prime pal or inter
es, Of any bond issued under this act, or
the collection Of the special fax therefor, or
to enjoin any officer Of State or parish
IN receiving warrants. as is prescribed IN
sections thirteen and sixteen of this acc.
Sec. II. Be it further enacted, etc, That
all acts or parts Of acts in conflict with
this act, or any section thereof, are hereby
declared to be repealed, aud that this act
shall take effect from aud after its passage.
The rules were suspended. and Senate
bill No. 1913. snbodyiDg amendments TO the
constitution. was taken .p. On IFS final
passage the yeas and nay. we-e called. and
ninety .otes recorded ia :avo:, with none
opposed.
Mr.. Montaido. on ccnsen. OF .he House
being obtained. asked the approval Of the
report OF the Committee ON Elections,
dated December IL. Isi:. RECOMMENDING
the seating of the members from the frs
ana second wards Of Orleans.
The report was adopted. ard Nessrs.
Langle> and Thompson. -: the hrs: ward.
and Wilson and Provost. oi :h. second
ward, were sworn in.