The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-10-13
Proposed Amendments to the
Constitution,
State Of Louisiana
ACT NO. 2.

ACT NO. 2.
~ Mr.. Dupre. House Bill No. 81
AN ACT
H authorize and require the City Of Ney
orleans, through the Board Of Liqui
dation Of the City Debt, to issue an
sell bonds, which shall be exempt from
taxation, for the payment Of the deb
due for salaries Of school teachers an,
,ortresses for the years 1885, 1885,
md 1887; to provide for the paymen
Of the principal and interest Of sal,
bonds; and to submit to the peopl,
A amendment Of the Constitution
authorizing the issuance Of said bonds
I. and ratifying the provisions of thi
Act.
whereas, the City of New Orleans ha.
for many years been indebted to hel
school teachers and portresses, a merit
srious body Of her citizens, for per
sonal services rendered under contrac.
with the Board Of Directors of hel
public schools; and
whereas, the people of this State, by
the provisions of Article 315, 316 and
a17 Of the Constitution of 1898, requir-
ed the City Of New Orleans to ex-
anime into and assume the payment of
these debts, and provided therein for
their payment in a manner then be-
leved to be sufficient and eticacious !;
and
Whereas, under said constitutional di-
rections, the city did examine and as
sumo this debt, but the provision made
In the Constitution for the payment
thereof was sufficient only to lieuidate
the assumed Indebtedness for the years
1882, 1883 and 1884, leaving unpaid
the assumed Indebtedness for the years
1885, 1856 and 1887; and
Whereas, the City Of New Orleans did,
by Ordinance No. 2o44, New Council
Series, approved October 1st 1908, as
sumo the Indebtedness reported by its
Finance Committee as due by the
School Board Of said city to teachers for
salaries Of school teachers and portess-
Is for the years 1855, 1886 and 1887,
and did issue certificates Of indebted
ness therefor, amounting in the ag-
gregate to one hundred and seventy
1 four thousand, six hundred and sixty
two ($174, 662.00) dollars; and
Whereas due notice Of this Act has been
published in the City Of New Orleans
for more than thirty days prior to its
Introduction into the General Assembly,
and due evidence thereof has been ex-
hibited in the General Assembly:
Section !. Be it enacted by the Gen
sal Assembly OF the State of Louisiana,
NO thirds Of all the members elected to
eea House concurring; That subject to
De ratification Of the people of the State
4 Louisiana, by the adoption Of an
amendment to the Constitution Of the
State hereinafter submitted to them the |
City Of New Orleans shall have power
b issue, and it shall be its duty to issue
bonds, not to exceed two hundred thous-
md dollars o,Ooo.oo) in amount,
dated January lst, 1907, bearing 4 per
sent per annum interest payable semi
annually, the principal Of which shall be
parable at the option Of the city, at any
time between January 1T, 1917, and
January LIST, 1927. Sail bonds shall be
styled "School teachers salary bonds
u the City Of New Orleans.' They shall
= Of the denomination of one thousand
!olars each, payable in lawful money of
ne United States, with semi -annual in
srest coupons annexed payable July LIST
ma January LIST. They shall be signed
y the Mayor and Comptroller of the
uy Of New Orleans and countersigned
y the President or Vice President and
secretary Of the Board of Liquidation
2 the City Debt. They may be regis
sfed and released from registry under
e rules and regulations prescribed by
q Board Of Liquidation, and no reg
lsred bond shall be negotiable. Like
.her city bonds, they shall be exempt
l0a al taxation, State, parish and mu-
anpai, and the tutors Of minors and
rators Of interdicts shall b authorized
mt the funds in their hands in
leA ENDS.
cecuon 2. Be it further enacted, etc.,
.As as soon as constitutional authority
y ne issuance Of said bonds shall have
e obtained, it shall be the duty Of
81 board of Liquidation of the City
80 q the expense Of the one-half Of :
oas per cent debt tax, devoted to
~, purposes, and apportioned by said
to cause said bends to be en-
k.'ea and executed, and to sell the same
y iess than par and accrued interest. s
"A 7 ~a.ed proposals, to tho highest bidder !
~ mirty days advertisement in two 8
- published in the City of New Or
n.'.'on >. Be It further enacted, etc, I
=. 1ls Board Of Liquidation shall, with | t
.. proceeds Of said bonds take up ami
+ s0e certificates issued by the City I
Al