The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1906-10-27
PROPOSED AMENDMENTS
TO THE--
Constitution Of the State of Louisiana
To be Voted on at AM Election to be Holden
Tuesday. November 8. 1906. ,~.ss

Tu
ACT NO. 2.
By Mr.. Dupre. House Bin No. IS
AN ACT
To authorize and require the City Of
New Orleans, through the Board at
Liquidation Of the City Debt, to 10
sue and cell bonds, which shall be
exempt from taxation. for the pay
mcnt Of the debt due for salaries Of
school teachers and portresses Tor
the years 1856. 1886 and 1887; to
provide for the payment OF the
principle and interest Of said bonds;
and to submit TO the people an
amendment 0f the Constitution au-
thorisang the issusnce ofsaid bonds.
and ratiiyiag the provisionsof this
Act.
Whereas, the City Of New Orleans,
has for many years, been indebted
to her school teachers and p0r-
tresses, q meritorious body Of her
citizens, for personal service rem
derej under contract with the
Board II Directors VI her public
schools; and =.
Whereas, the people Of this State, by
the provisions Of Article as, 316
and 81 Z of the c Constitution Of 1898
required the City Of New Orleans
to examine into and assume the
payment oil. these debts, and pro-
vided therein for their payment in
a manner then believed to be suffi-
Gent and efIicnci0ue; and
Whereas, under said constitutional
directions, the city did examine
and assume this debt, but the pro-
vision made in the Constitution for
the payment thereof was sufficient
only to liquidate the assumed In.
debtedness for the years 1882,
1888 and 1884. eaving unpaid the
assumed Indebtedness for the years
1885, 1886 and 1887; and
Whereas, the City of New Orleans did.
by Ordinance No. 2O44, New COun-
eli Series, approved October List
1908, assume the indebtedness re-
ported by ite Finance COMMITTEES
as due by the School Board Of said
city to teachers for salaries 0l
school teachers and povtresses for
the years 1885, 1855 and 1887,
and did issue certificates of indebt-
ednees therefor, amounting in the
aggregate to one hundred and sey.
enty-four thousand, six huRdred
and sixty-two (el74,662.OO) dol.
lars; 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 evi.
dence thereof has been exhibited in
the General Assembly:
Section 1. Be IL enacted by the
Gsnsral Assembly Of the State Of Lou.
isiana, two-thirde Of all the members
elected To each House concurring
That, subject to the ratification d
the people 0f the State Of Louisiana
BY the adoption Of anamendment ia
the Constitution Oi the State herein
after submitted to them the City Ol
New Orleans shall have power to 10.
eue, and Il shall be its duty to Issue
bonds. not to exceed two hundred
thousand dollars ($2OO, OOO.OO) in
amount, dated January LIST, 1907
bearing 4 per cent per annuni inter
est pa yable semi-annualiy, the prin
cipal Of which shall be payable at thu
option Of the city, at amy time he
tween January LIST, 1917, and Janu
airy LIST, 1877. Said bonds shall b
styled "Sch0ol teachers salary bonds
Of the City vi New Orleans" They
shall be Of the dissemination Of ON
thousand dollars each, payable II
lawful money of the United States
with centennial interest coupons
annexed payable July LIST and Janu
DRY LIST. They shall be signed by th'
Mayor and Comptroller Of the Cit,
of New Orleans, and countersignet
by the President or Vice Presiden
and Secretary 0i the Board OF Liqui
dation II the City Debt. They MAJ
be registered and released from reg
istry under the rules and regulation
prescribed by said board of Liquida
ton, and no registered bond shall b
negotiable. Like other city bonds
they shall b exempt from alltaxatiOI
State, parish and municipal, and tn
tutors OF minors and eurators Of in
terdicts shall be authorized to inves
the funds in their hands IN sucl
bonds.
Section 2. Be It further enacted
ETC., That 40 soon as constitutions
authority for the issuance Of sai'
bonds shall have been obtained, ]
shall be the duty of the Beard Of Lie
uidation Of the City Debt. at the ex
penss Of the one-hah of the one pc
cent debt tax, devoted to school puI
poses, and apportioned by sui
Board, to cause said bonds to be en-
Igraved and executed, and to eel tn
same at not lese than par and accru
ed interest, by sealed proposals, T.
the highest bidder: after thirty day
q