New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1902-10-11

ti l1lIS ' pllNtltNNl'll' VI WIN -
shall be issued for the current
month in which this Constitution
is adopted, are hereby declared
to be- valid and SubSiSting claims
against the revenues of the re
SpoCtivc Offices upon which sad
fund was made dependent
The holders of said warrants
may present them within six
months after the adoption of this
Constitution to the Board of
Liquidation of the City Debt, and
receive therefor the bonds here
matter authorized to be ISSUED;
and the City of New Orleans is
required. within three months
from the adoption of this tOnStl-
tuition, to provide for said war
rants or claims, by the issuance
of bonds in the sum of two hun
drcd and twenty five thousand
dollars, or SO much thereof as
may be necessary: said bonds
shall be for the face value of said
warrants, in such denominations
as the said Board of Liquidation
shall recommend and shall be
dated July list, 1898, and made
payable twenty-five years after
date, or earlier, at the option of
said Board, and shall bear ! per
cent per annum interest, payable
Semiannually, and represented
by interest coupons attached
thereto, the first Of said coupons
payable January lSt, 1899: said
bonds to be known as Judicial
Expense Fund Bonds, and to be
signed by the Mayor and Comp
troller of the City of New Orleans.
and delivered to the Board of
Liquidation of the City Debt and
shall be countersigned by the
President and Secretary of said
Board and issued by said Board
to the holders of said warrants
upon surrender of same. Neither
the State of Louisiana nor the
City of New Orleans shall ever be
liable for the payment of said
bonds nor the interest thereon,
except from the special fund
herein provided for, and any APP
preparation or other provision
therefor made by the STATE or
city shall be null ,,.l void. There
shall be stamped qGross the face
of said bonds, ther words: rs.
sued in accordance with Articles
1876 of the Constitution of Louis
lana of 1898" The Clerk of the
Civil District Court, Register of
Conveyances and Recorder of
Mortgages for the Parish of Or
leans and the Clerks of the City
Courts of New Orleans, shall keep
accurate and detailed accounts in
books to be used exclusively for
that purpose of all fees and
charges collected in their Offices,
respectively, and they shall fur
nish daily, to the City Comptrol-
Ter transcripts of said accounts
duly certified by them or by their
authority, and said officers shall
also daily pay into the Treasury
of the City of New Orleans the
whole amount of fees and charges
50 collected. From the amounts
thus paid into the City Treasury
the Treasurer shall set apart and
reserve twenty per cent out of
which shall first be paid the ex-
penses necessary for the prepa-
ration and execution of the afOre
said bonds, and thereafter the
same shall be used solely and ex-
clusively to retire the bonds
issued in payment of said Judi
cial Expense Fund warrants and
interest thereon, and the certifi-
cate of the Comptroller herein
after authorized ; and upon the
second Tuesday in December and
June of every year the said
Treasurer shall pay said amounts
so reserved, and also the amounts
received from the Civil Sheriff, to
the Board of Liquidation of the
City Debt, until all the bonds
herein authorized have been re
tired or paid and on the second
Tuesday in February and August
of every year, said Board o
Liquidation, in accordance will
rules to be adopted and made
public by it, shall, after payin,
the semi.annual interest on sai'
bonds, purchase or redeem wit
such money thus set apart a
may have accumulated, and wit
the surplus of the remaining
eighty per cent as hereinafte
provided, as many of said bond
as said money will buy or redeem
preference being given to hole
ers Offering at the lowest rat'
and all such bonds so purchase
or redeemed shall be by sal
Board of Liquidation immed
ately Cancelled, and a record mao
/ thereof.
: From the remaining eighty per cent.
) said fund there shall be paid monthly t
t current salaries and expenses Of t
i offices from which the same is derived,
n Guiding the salary Of the docket a
f minute clerks OF the Court Of Appeal,
II now constituted and until the election
d the clerk of the said court, as above pl
l. vided, together with such authorized
i penses OF said Offices as are not required
e be paid by the City of New Orleans; n
J. the surplus Of said eighty per cent,
any, shall be paid by the Treasurer, to
q said Board of Liquidation, and shall
r used to redeem or pay said bonds and G.
@ tificates as hereinbefore and hereinaf
[. provided. But il said eighty per ce
q during the six months ending July 81,
e January 81 Of any year, should prove
8 adequate to pay said salaries and
If penses, the Comptroller shall prorate
If deficit among those entitled to paymel