The southern sentinel. (Winnfield, La.) 1883-1910, 1906-10-12
ACT NO. 2.

of the City Debt to issue and sell bonds.
which shall be exempt from taxation, for
the payment of the debt due for salaries OF
school teachers and portresses for the years
1nent of the principal and interest of said
amendment of the Constitution authorizing
the issuance of said bonds, anil ratifying
the provisions of this Act.
Whereas, the City of New Orleans has for
many years. been indebted to her school
teachers and portresses, a meritorious body
Of her citizens, for personal services rem
dered under contract with the Board OF
Directors Of her public schools; and
Whereas the people of this State, by the pro-
visions of Article SIS, 3l6 and 81! of the
Constitution of 1898, required the City OF
New Orleans to examine into and assume
the payment of these debts, and provided
therein for their payment in manner
then believed to be sufficient and etica-
Whereas, under said constitutional directions,
the city did examine and assume this debt,
but the provision made in the CONSTITUTION
for the payment thereof was sufficient only
TO liquidate the assumed Indebtedness for
the wears 1882 1883 and 1854, leaving unpaid
the assumed Indebtedness for the years
whereas. the City of New Orleans did, by
Ordinance No. 2044, New Council Series,
approved October ist, 1903, assume the
Indebtedness reported by its Finance Com
mittee as due by the School Board of said
city to teachers for salaries of school
1855 and 1887, and did issue certificates of
Indebtedness therefor, amounting in the
aggregate to one hundred and seventy-four
thousand, six hundred and s'xty-two
(sl74. 6ss.UO dollars: and
Whereas due notice of this Act has been pub
lished 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 exhibited in the
Section /. Be it enacted by the General
Assembly of the State of Louisiana, two thirds
of all the members elected to each house con-
curing: That subject 70 the raineaiioh OF .he
adoption of an amendment to the Constitution
of the State hereinafter submitted to them the
City of New Orleans shall have power TO issue,
and II shall be its duty to issue bonds, not to
exceed two hundred thousand dollars (s2Oo,uul
In amount, dated January LIST, l97, bearing
annually, the principal of which shall be
payable ut the option OF the city, Mt any time
between January list, 1917, and January Isl,
1897. Said bonds shall be styled school teach.
ers salary bonds of the City of New Orleans
They shall be of the denomination or one
thousand dollars each. payable in lawful
interest coupons annexed payable July LIST and
January Ist They shall be signed by the
Mayor and Comptroller Of the City Of New
or Vice President and Secretary OF the Board
OF Lilo lidation of the City Debt. They may be
the rules and regulations prescribed by said
Board of Liquidation, and no registered BOND
shall be negotiable. Like other city bonds,
uarish and municipal, and the tutors of
minors and curators of iuterdicts shall be
authorized to invest the funds in their hands
Section . Be it further enacted, etc, That
rs soon as constitutional authority for the
issuance OF said bonds shall have been obtained,
il shall be the duty of the Board or Llqulda-
ton of the City Debt, at the expense of the
one-haf OF the one per cent debt tax, devoted
. school purposes and appropriate oy sa n.,
executed, and to sell the same at not less than
par aid accrued interest. by sealed proposals,
TO the highest bidder, after thirty Gays adTe
tisementin two papers Published In The City
of New Orleans.
section s. Be it further enacted, etc, That
ceeds Of said bonds take up and pay the certid-
Gates issued bv the City of New Orleans for the
salaries OF school teachers and Portresses Of
ISL. under the provisions Of Ordinance No.
3OA New Council Series. approved October ist,
1903 with four per cent. per annum on me
October LIST, 1903, provided that for the pur-
poses Of this Act no interest on said ceruncates
shall be allowed after January LIST, lsU. sucn
payment must be made only to the persons
named in such certificates, or to their heirs OF
legatees or to their duly authorized counsel
upon surrender OF the original certihcates Oh
Section 1. Be it further enacted, etc., That
the principal and interest OF said bonds sha
Be paid by preference out o. snat oneh lsxe u
by the City OF New Orleans by virtue Of
Article sl4 Of the Constitution OF louisiana,
and in msiins In each year apportionment Of
the surplus OF said tax, the Board OF Liquida-
ton shall from the one-half apportioned 70 the
preferences, sum sufficient to pay the semi
annual interest on said bonds, aud the sinking
fund hereinafter provided for.
after January LIST, 1917, the said Board OF
Liquidation shall, out of the said one hall
surplus OF said tar aPportioned to school o.
amount TO retire the whole OF said issue Of
bonds, on or before January LIST, 1877, and shall,
from time g time ana 2. sas, once s exefy
by lot the numbers of tthe bonds to be retired
II par and accrued interest, and shall advertise
s sox ven o. f icy cities Of New YORK and New
Orleans, the numbers OF said bonds and the
date they will be paid (Which date shall be not
advertisement) and at the expiration Of said
date said bonds shall cease to bear interest.
Section 8. Be it further enacted, etc., That
constitute . contract between the holders Of
bonds issued hereunder. the State of Louisiana
and the City Of New Orleans.
solved, ETC., That at the congressional election
to be held In this State, on the first Tuesday
following the first Monday Of November, 1908,
OF the State OF Louisiana, shall be submitted to
the electors of the State. to-wit:
The City Of New Orleans shall have power
thousand dollars of bonds, known as "School
teachers salary bonds," for the purposes and
under the provisions and conditions set forth
In the special act Of the Legislature adopted to
that end and for that purpose, at the regular
session Of 1905, which said act is hereby ratified
and approved; and all provisions OF the present
Constitution Of the State in conflict with the
provisions Of said act. and with this amend
ment are, to that extent, and for that purpose
Section 8. Be it further enacted. and re-
solved, etc, That on the official ballots to be
used 1t said election shall be placed the words:
For the City Of New Orleans school teachers
salary bond amendment and the words:
Against the City OF New Orleans school
teachers |salary bond amendment" and each
elector shall indicate his vote on the proposed
amendment Is provided in the general election
laws OF this State T. W HYAMS.
Speaker Of the House Of Representatives
]. Y. SANDERS,
Lieutenant Governor and Pres. of the Senate
Approved June IL, 1905.
NEWTON c. BLANCHARD,
Governor OF the State OF Louisiana
A true copy: -. ,s5s
JOHN r. MICHEL,
Secretary OF State.