The St. Mary banner., 1906-11-03
Proposed Amendments to the
Constitution,
State Of Louisiana.
ACT NO. 2.

AN ACT
To authorize and require the City of New
Orleans, through the Board of Liqui-
dation 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 1885, 1886
and 1887; to provide for the payment
Of the principal and interest Of said
bonds; and to submit to the people
An amendment of the Constitution
authorizing the issuance Of said bonds,
and 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 merit
orious body of her citizens, for per
sonal services rendered under contract
with the Board Of Directors of her
public schools; and
Whereas, the people of this State, by
the provisions of Article 3l5, 316 and
BIT 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 manner then be-
ieved to be sufficient and efficacious;
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 iquidate
the assumed Indebtedness for the years
1882, 1883 and 1884, leaving unpaid
the assumed Indebtedness for tie years
1856, 1856 and 1887; and
Whereas, the City Of New Orleans did,
by Ordinance No. o044, New Council
Series, approved October 1st 1908. as
sumo the Indebtedness reported by ,s
Finance Committee as due by the |
School Board Of said city to teachers for
salaries of school teachers and portess-
es for the years 1885, 1856 and 1887,
and did issue certificates of indebted |
ness therefor, amounting in the ag-
gre3ate to one hundred and seventy
four thousand, six hundred and sixty
two ($174, ,662.00) dollars: and
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
,ral Assembly OF the State of Louisiana,
Two thirds Of all the members elected to
zach House coneurring; That subject to
he ratification Of the people of the State
Il Louisiana, by the adoption Of an
amendment to the Constitution Of the
State hereinafter submitted to them the
ity of New Orleans shall have power
Q Issue, and it shall be its duty to issue
,onds, not to exceed two hundred thous-
md dollars ($2oo, ,o0o.co) in amount,
lated January lst, 1907, bearing per
ent per annum Interest payable semi
the pr acfpal Of which shall be
'avab.e at the option Of the city, at any
ime between January 11t, 1917, and
January lst, 1927. Sail bonds shall be ,
tyled 'School teachers salary bonds
t the City Of New Orleans' They shall
e cf the denomination Of one thousand !
ollars each, payable in lawful money of
he United States, with semi-annual in
'rest coupons annexed payable July LIST +
nd January lst. They shall be signed
y the Mayor and Comptroller of the !
ity Of New Orleans and countcrsigned
= the President or Vice President and
ecrctary of the Board of Liquidation
the City Debt. They may be regis
red and released from registry under
e rules and regulations prescribed by
i'd Board Of Liquidation, and no reg
tered bond shall be negotiable. Like @,
her city bonds, they shall be exempt t,
ON all taxation, State, parish and mu- t.
cipal, and the tutors Of minors anal ..
rators Of interdicts shall b authorized r,
int the funds in their hands in \,
ch tonds.
Section 2. Be it further enacted, etc, ),
at as soon as constitutional authority \
the issuance of said bonds shall have q
en- obtained, it shall be the duty of h.
Board Of Liquidation of the City tr
bt, at the expense Of the one-!.alf Of Il
one per cent debt tax, devo..l 20 "a
looi purposes, and apportionc6 lv sad lie,
ard, to cause said bonds to be en-. 90
wed and executed, and to sell the "a me G,
not less than par and accrued interest, s,
sealed proposals, to tho highest bidder as
er thirty days advertisement i'll two an
'ers published in the City of New Or in.
ms. -.
section >. Be 1t further enacted, etc.. tn,
1t the Eoard of Liquidation shall. with te,
proceeds OF said bonds take up and
the certificates issued by the City Th
New Orleans for the salaries Of school nj
chers and portresses Of the public Lo
Ools for the Years 1S95 1894 .,a -,