St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1892-02-27

electors may vote for or against each
amendment separately; and II . major.
ity of the qualified electors, voting q
said election, shall approve and fafffy
all or either of said proposed amend.
ments, then such proposed amend
ments, or either of them, 50 approved
and ratified, shall become part Of the
Constitution of this State.
JOINT DISSOLUTION NO. no.
AMENDMENT NO. l.
ssProposing an amendment to the Con-
stitutiOn providing for the funding
of the bonded debt Of the city II
New Orleans, other than Premium
Bonds, into four per cent. boods;
providing . special tax Of o. Per
cent. to pay the bonded debt Of tie
city, and exempting the said four
per cent. bonds from taxation, 00d
further authorizing the said city 70
assume and pay such unpaid claims
of the Board of School Director q
said city and parish which it nay
find to be equitably due by said
Board"
SECTION 1. Be it resolved by the Sen
ate and House of Representative Of the
State of Louisiana, twO-thirtls Of al
the members elected to each house Coz
curing, That the following amend
mcnts to the Constitution Of the Sta1e
State ut the next election for Repre-
.~r~.s;.a, f,- 49,. Tsa~~~~1 Aso~~n,nv &N>
1892, for the purpose OF retiring the
now existing valid outstanding boods
of the city of New Orleans, Including
the bond certificates or b0nfls Issued
under the act of the Legislature No. %
of 1882, and to retire judgments now q
hereafter rendered against the city On
floating debt claims prior to 1879, enti-
tied to he funded under act No. 81 Of
1854, the said City of New Orleans h
hereby authorized and directed, on and
after the adoption IF this amendment,
to issue through the Board Of Liquida-
ton of the City Debt, bonds TO be
known rs the Constitutional Bonds Of
the City of New Orleans, not exceeding
ten millions Of dollars. at ilfty years,
bearing four per cent. per annum inter-
est, to bear date and be in the form pEe.
scribed by the Legislature. The said
bonds shall be applied by the said
Board to the retirement Of said out
standing bonds and Judgments, by the
sale of said Constitutional Bonds, and
application of the proceeds Of sale By
the Board of Liquidation, to pay Or
purchase said outstanding bonds and
judgments, or by exchanging the said
Constitutional Bonds for bonds, On the
terms and i'm the mode prescribed By
the Legislature. For the payment Of
The interest and principal II maturity,
of said Constitutional Bonds, and other
outstanding bonds not retired under
this amendment, and for the payment
of the annual allotments and premiums
of the Premium Bonds of said city, the
said city is hereby authorized and d.
rectcd to levy annually, and until tia
full payment of said bonds, . special
tax of one per cent. on all the real ard
personal property Of the city, said tax
to be part of and not in addition to the
tax of twenty mills and twO-tenths Of Q
mill ON the dollar of valuations now
levied for all purposes by the City Of
New Orleans, and the said tax shall be
paid over as collected to, and be ap-
piled by the Board of Liquidation, to
the payment of the interest and princi-
pal At maturity of said Constitutional
Bonds. and outstanding bonds not re-
ments of Premium Bonds and premiums
extant, in the hands of holders.
Said tax is hereby declared to be the
contract right of the holders Of al said
bonds; and the exemption Of said Coz
stitutiOnal Bonds from all taxation by
the City of New Orleans and State Of
Louisiana is hereby recognized and De.
clared, and after payment Of all the an
nual interest on said Constitutional
Bonds and bonds not retired and the
payment of the said annual all0tments
of Preihium Bonds and premiums 81.
tant in the hands of holders. and AFTER
making provisions for sinking fand,
at such time and Of such amount - the
Legislature prescribes, the surplus Of
said one per cent. shall be disposed a
as prescribed by the Legislature.
The act passed ut the present session
No. SO entitled AN act to carry into q.
feet the Constitutional amendment paas,
ell at the present session relative 70 Tie
bond debt of the city II New Osleana."
ETC.. be ard is hereby approved aod
confirmed in all its parts - . contrast
between the city Of New Orleans and The
holders of said Constitutional Doads,
Premium Bonds and Of she bonds out.
standing not retired rs Aforesaid.
SECTION 2. BE it further resolved. etc..
That the city of New Orleans be and h
hereby authorized and empowered 10
examine into and assume the payment
OF the c!aims or obligations Of the Board
of School Directors for the city and pas.
ish oil Oris ans due for the yean lSoO,
1851, 1882, 1883 and 1884, now il he
hands OF original owners, who have u
no wise parted with their original own-
ership or pledged the same. - may Be-
fond to be equitably due by said hoard
for services rendered, labor performed
or materials furnished by authority q
said board.
SECTION 5. Beit further resolved, etc.,
That all electors voting at said eleetisa
for said amendment shall place upoa
their ballots the words, For the city Of
New Orleans debt amendment" and al
electors voting at said election against
said amendment shall place on their
ballots tie wor,.s. against the city q
Nev Orleans deb. amendment"
JOINT RESOLUTION NO. 49,