The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1906-10-27

advertise for ten days ina newspaper
published in each Of the cities Of New
York. Chicago and New Orleans, the
number Of said bonds and the date
they will be paid (which dateshall he
not more than thirty days from the
date OF such advertisement) and at
the expiration Of said date, said
bonds shall cesase to bear interest.
Section 8. be it further enacted.
ETC., That the Board Of Liquidation
of the City Debt 10 hereby directed
not I'D ssll any Of said eight millions
Of New Pebble Improvement Bonds In
excess Of the revenues hereby detiicat
ed tO the payment Of the annual In
terest thereon. and tn defer such saies
II necessary. until the assessed value
IF the city of New Orleans Will rs
surrtily provide the funds to meet
the interest charges thereon.
section 2. BE 1t further enacted.
etc, That n. by any mischnnce.
the growth and prOgrsa Ut the City
If New Orleans should i,e arrested.
so that her assessed values should
not I've sufficient to provide n sinking
fund to retire said bonds by Janua-
~ LIST, 1912, all said bonds 30 remain
Ing unpaid shall I've iTsO factO. ex-
tended at the same rate ef interest
and with the right 81 call. IA herein
provided. until J anuaty lat. 1862. aud
the said one per cent debt tax shnli
I've levied and collected until TINT
date or until the principal and Inter
eat uf xnId bonds are fully and finally
paid, aud the proceeds thereof. after
July lat, 1850. shall I've applied by
preference to the payment al the
principal and interest Of said t'onds,
except I'm so far an any portion Of the
proceeds Ct said tax may have tO I've
applied, after that date to the pay
uept al the principal ami interest al
the sald twelve millions III "Putstic
Improvement Bonds" due July lat.
1850, issued under said Act ut 1899.
II IL ahouli become necessary. after
January lat. 1872. to provide for the
payment Of the interest on any part
al the suid eight million dollars III
.New Public Improvement Bonds"
until the said twelve millions of
Public Improvement Bonds" are
retired. and the proceeds Of said one
msr cent debt tax cannot he usesi
without infringement upon the es-
tabllshe1 plan Of retiring the whole
III said twelve millions Of bonds In
the interval between January lst.
1872. and July 1st. 1850, l. shall be
the duty of the City Of New Orleans,
to Ike enforced by manlaiuus. II nee
esaary, either l,y the Board Of llqui-
dalton ar by any bOndhOltier, tn levy
In each year n special tax sufficient
tO pay the Interest on raid bonds.
auid special tax. to I've levied and col
lectesi and paid to the Board Of Liq-
uidatisn. until the prOceesls 0f the
one per cent debt tax shall Ike avail
allie towards the payment Ut the In
terp&t and principal Of said bonds. -
SECTION 10. Re 1t further enacted.
etc, That the holders Of bonds lssu-
esl under this Act shall have all the
rights and guarantees provided In
aald Act No. 6 Of the extra session III
1873. In behalf Of the holders nj bonds
Issued under that Act, and all the
substantial provisions OF this Act
shall constitute u contract betwern
the holders Of bonds issued hereun-
der. the State of Louisiana. and the
City Of New Orleans.
section IL. BE 1t further enacted,
aud resolved. etc. That mt the con-
gressionnl election to I've held In this
state ON Tuesday. the 9Th dayu No
vemiser, l906. the following amend
ment to- the ConstitutiOn ,f the State
Z uf I.osliainha allaI1 lie submitted tO
the electors Of the State. tO-wit:
1.-The City of New Orleans shall
have power To Issue eight million
L. - NM
Public Improvement Bonds" for the
purposes and under the provisions
and conditions act forth La the SHSs-
cinl Act Of the Legislature adopted
tn that cad and fOP that purpose, AZ
the regular session of 1906. which
said Act h hereby ratified and aIs-
proved; and all provisions Of the
present Constitution Of the State In
conflict with the provisions Of said
Act. and with this amendment, are
to that extent. and for that purpOse
only, repealed"
Section II. BE It further enacted
and resolved. etc. That ON the Off
cinl ballots to I've used at said cleo
ton. shall I've placed the words:
''For the t1ty Of New Orleans New
Public Improvement Bond Amend
mcnt.'
And thu words:
Against the City of New Orlean,
New Public Improvement Bono
Amendment"
And each tlector shall Indicate hi,
vote on the proposed amendment. al
provided In the general election law
at this State.
j. Y. SANDERS.
Lieut.. Gov. and Prcst. Of the Senat e
J. w. HYAaiS.
Speaker Of House of Representatives.
Approved June eth. 1906.
NEWTON e. BLANCHARD,
Gov. al the State of Louisiana
a true copy: