St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1892-03-12

ments, then such proposed amend
ments, or either of them, 20 approved
and ratified, shall become part Of the
Constitution of this State.
JOINT RESOLUTION NO. 10
AMENDMENT NO. 1.
@PrOpoeing IN amendment to the Con-
stitution providing for the funding
of the bonded debt Of the city ol
New Orleans, other than Premium
Bonds, into four per cent. b00ds;
providing . special tax Of ons per
cent. to pay the bonded debt Of the
city, and exemptin8 the said -four
per cent. bonds from TAXATION, and
further authorizing the said city to
assume and pay such unpaid claims
Of the Board of School DlrectOrs Of
said city and parish which IL may
find to be equitably due by said
Board"
SECTION !. BE It resolved by the SEN
ate and House Of Representatives Of the
State of Louisiana, twO-thirtl< Of al
the members elected to each house con-
curing, That the following amend
ments to the Constitution Of the State
he submitted to the electors Of the
State at the next election for Repre-
sentatives for the General Assembly In
1892, for the purpose Of retiring the
now existing valid outstanding bonds
of the city Of New Orleans, including
the bond certificates or b0ads issued
under the act of the Legislature No. -
of ls8a, and to retire judgments now o.
hereafter rendered against the city On
floating debt claims prior to 1879, enti-
tied to be funded under oct No. 81 Of
1894. the said City Of New Orleans n
hereby authorized and directed, On and
after the adoption If this amendment,
to issue through the Board Of Liqulda-
ton of the City Debt, bonds to Be
known n the Constitutional B0ndS Of
the City Of New Orleans, not exceeding
ten millions Of dollars, at nfty years,
bearing four per cent. per ann1m inter-
est, to bear date and be In the form pre-.
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 in the mode prescribed By
the Legislature. For the payment Of
.he interest and principal u maturity,
of said Constitutional Bonds, and other
cutstaudlng bonds not retired under
this amendment, and for the payment
of the annual allOtmeuts and premiums
Of the Premium Bonds Of said city, the
said city Ii hereby authorized and d.
recteh to levy annually, and until the
full payment Of said bonds, . special
tax Of one per cent. on al the real and
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 .
mill ON the dollar of valuation Row
levied for al purposes by the City Of
New Orleans, and the said tax shall be
paid over - 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 H.
tired, and to the payment Of the allot-
ments of Premium Bonds and premiums
extant, in the hands of holders.
Said tax In hereby declared to be the
contract right Of the holders Of all said
bonds; and the exemption Of said Con-
the City of New Orleans and State Of
Louisiana h hereby recognized and de-
clared, and after payment Of all the IN
nual interest ON said Constitutional
Bonds and bonds not retired and the
payment Of the said annual allOtments
Of Pre,Aium Bonds and prsaiams ex-
tant in the hands Of holders. and aftes
making provisions for sinking faad,
1t such time and Of such amount - the
Legislature prescnbes, The surplus Of
said ono per cent shall be disposed 81
- prescribed by the Legislature.
The act passed at the present seasjoa
No. 36 entitled IAN Get 70 carry into ef-
feet the Constitutional ansendmeot pass.
Ell at the present session relative 20 the
bond debt Of the city u New Osleana,"
etc.. be aid 10 hereby approved and
in all its parts ~ . coatsnet
between The city Of New Orleans and the
holders ~ aaid Conseitutional Bonds,
Premium Bonds and Of she boads cot.
not retired ~ Aforesaid.
SEcTIOS Z BE il further resolved. etc..
That the :ity Of New Orleans be and h
hereby authorized and empowered %
s1Amine into and aasume the payneot
Df the claims or obligations Of The Board
Df School Directors for the city and pas.
iah 81 Orleans due for she years lSSO.
1881, lsS9, 1858 and 1854, nov In the
hands d original owners. Win have In
DO wise parted with their oeigioal Ovn.
ership or pledged the aanc. ~ nay Be
Io1nd % BE- equilably dus By said boasa
Ior services rendered, labor performed
% materials furnished BY authority q
saSd board.
SEcIlox ;. Be il further resolved. e..
That ell slectose voting q said eleetieo
Tor said amesdment shall place upea
heir ballots the words, FOR the city q
New Orlcaas debt amsndment," and ali
electors voting At said election asainse
aid amendment shall place o. their
ballots the words. against the city a
New Orleans debt amendmeuG"
JOINT RESOLUTION NO. IA