The St. Mary banner., 1906-09-01
p,onosed Amendments to the
Constitution,
State Of Louisiana.
ACT no. ,

..bor;ze and require the City Of New
..I,ons through the Board Of Liqni-
~ ~son If the City Debt, TO issue and
' n bonds. which shall be exempt from
'.ro.;on. for the payment of the debt
f. III for salaries Of school teachers and
w. ..rosSes for the years 1sso, loo6
ud ri 1857: to provide for the payment
Il, nrineipal ana interest Of said
s.,gs. y and 10 submit 10 the people
amendment Of the Constitution
'n,horizing the issuance of said BOMBS,
su5 nj ratifying tn provisions Of this
r,s,eas the City Of New Orleans has
i, many years been indebted to her
..hooI teachers and portresseS. merit
,r,us body of her citizens, for per
-, seryices rendered under contract
nth the Beard of Directors of her
oublic schools; and
Whereas the people Of this State, by
.ho provisions of Article 3l5. 3l6 and
~ Of the Constitution Of 1898, requir
NJ 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
Heyed to be sufficient and efficacious;
and
uhereas, under said constitutional III
,petions. the city did examine and as
mme this debt, but the provision made
IN the Constitution for the payment
thereof was sufficient only to hquidatc
NO assumed indebtedness for the years
1882. 1888 and 1884, leaving unpaid
the assumed Indebtedness for the years
1855. 1886 and 1887; and
ybereas. the City of New Orleans did,
Nv Ordinance No. 2044, New Council
Series, approved October lst 1903, as
mme the Indebtedness reported by lis
Finance Committee as due by the
Shool Board of said city to teachers for
alaries Of school teachers and portess-
for the years 1885, 1886 and 1887,
and did issue certificates Of indebted |
ness therefor, amounting in the ag
gegate to one hundred and seventy
four thousand, six hundred and sixty
two ($l74, &C.. .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
into the General Assembly.
and due evidence thereof has been ex-
hhited in the General Assembly:
Section /. Be it enacted by the Gen
al Assembly OF the State of Louisiana
No thirds Of all the members elected to
aeh House concurring; That subject to
Be ratification Of the people of the State
I Louisiana, by the adoption Of an
nendment to the Constitution of the
late hereinafter submitted to them the
iF of New Orleans shall have power
ISSUE and it shall be its duty to issue
alis, not to exceed two hundred thous-
nd dollars $500, 0,000.00) in amount.
atd January lst, 1907, bearing 4 per
cat per annum interest payable semi
naally. the principal Of which shall be
'gable at the option Of the city. at any
me between January 1st, 1917. and
ihuary lst, 1927. Sail bonds shall be
yed "School teachers salary bonds
the City Of New Orleans. = They Shall
! Of the denomination Of one thousand
lars each, payable in lawful money Of
United States, with scmi-annual III
's coupons annexed payable July Isl i,
" January lst. They shall be signed
ne Mayor and Comptroller of the I
!! OF New Orleans and countersigned
le PRESIDENT or Vice President am
Tle'ary of the Board of Liquidation
'ae ,lty Debt. They may be regis
'a ana released from registry under
!, 'a'es ana regulations prescribed bv
! Board of Liquidation, and no reg
eleu Y oond shall be negotiable. Like .,
II city bonds, they shall be exempt !,
! d, ~ taxation, State, parish and mu- e
.ts' ana the tutors of minors and >:
',0is !. OF lnterdlcts shall be authorized r
tne funds in their hands in rs
7 t.nds. So
!. ,atlOn :. Be it further enacted. etc. y
d = soon as constitutional authority \
. ,'4e issuance of said bonds shall have \,
! , Dve'ained, it shall be the duty of i,
|. safa of Liquidation Of the CITY r.
y y Tue expense of the one half Of II
II l-s per cent debt tax, devoted to NJ
Il n purposes, and apportionod by sail II
= - % cause said bonds to be en- eo
I. = ald executed, and to sell the same q,
~, 49, than par and accrued interest !,
~ q: proposals, to the highest bidder rs
.y days advertisement ii Two | u
ps0lisned in the City of New Or, IN
tss A. o Be it further enacted. etc n,
,ras.l = Board of Liquidation shall. with fot
4. eas..s o. said bonds take up AMI
|, ~, certificates issued by the Citv II
Y. o'ieans Tor the salaries of school ~;
i y and portresses Of the nnbIic 10
. nor ,Or t the years 1885, 1886 and as
lAL ~ 'ne provisions Of Ordinance tu-