New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1906-09-08
ACT no D9
BY Mr.. Nogctle.
Senate Bin Ne H.
AN At"I

e the payment, ufr tie demands thereon of @ bond,
satisfied provide for the said bonds and ra w
npnoo from taxation and tine roorI of
the State of Louisiana amendment author. ing r5 ISSUE
of said bonds confirming he provisions of tins Act
whereas due noe" of this Ne" has been rolIb" the City New
leans for more than thirty days prior TO its introduction
raj Assembly and duo Njdon trof ryhbel
Whereas the bonds authorized to be issued by the clty of New Orleans mi
der the provisions of Act No lg radn 10y
constitutional amendment adopted general election of 1000
Il have completion OF sewerage, water and
General Assembly
is advised that it viii probably require eight million dollar" additional
complete said systems.
Whereas by the increase of assessments the New Orleans. present
aud prospective the one hal of the a
levied by virtue Of Article 81 of the Constitution Lou
the City New Orleans day of arc and viii
be more than sufficient the interest the million
lars of bonds issued under said of 1872
and actually produce large surplus dedicated pur-
thereof, which roojr capitalize
dollars bonds and the
rcttreme" thereof prior to January . 1912, and
Whereas % the and The,
people the whole State that these public works shall be
~ completed and that their completion should NOT he deferred
long of by the gradual
surplus, as 10y
Assembly of the state of Lon
isana thhl all the concuu
That people of state of Louisiana by
adoption Of Constitution of the state hereinafter
submitted to them the City of New Orleans power
shall be its duty to issue bonds oggreotug eight million dollars
January l. 1907 bearing four per cent per onnm interest payable
any tune between January ' and January 1912 Said bonds shall be
styled New public improvement bonds of the City They
nbI INV and 1anno, T} n I w. 1 i coupons Py @e%py
holer City ouutcrgned by the President or
Vice President and Secretary of the Board City
They registered registry under the rules and rogu
Board Liquidation registered shall
be negotiable Like other city bonds shall exempt
ton State and parish and municipal and the tutors
ndct shall be authorized to the
Section BE it further enacted That
authority obtained it shall be-
City expense
executed and to hold same subject the
Board of New Orleans From
of Liquidation said bonds in such
it may be requested do by sealed proposals,
than thirty days
sement of such sales in one newspaper published each the
New York Chicago and New Orleans
proceeds of all such
sales be held by the Board of Liquidation
dd in said Act No of the extra session 1892 and the amendment
Section t. Be it further enacted etc That the proceeds Of said bonds
shall exclusively for the completion
exceptions
(a That if the said systems expenditure
completion the whole said
by the Board of Liquidation the credit of the City New Orleans
expended by for paving only.
( That when the
operations begun the expenses of the operations of said for
supplied
or in part out of said funds after applying said not than twenty
M t @ d h% ah J " nA ueog 1 10
o said
Section Be it further enacted That the
shall be applied in such proportion be required the
systems being given the
sewerage and water systems if necessary
Section Be it further enacted That there shall
principal and
all surplus arising after January st 1907 from the half
debt tax levied by the City Of New Orleans by virtue of Article 34 of the
Constitution of Louisiana and from the
$780, said surplus being here defined be all residue until
the
provisions the
years provided
collected January provided
of If,
this
provided
said public drainage
the New surplus
be than sufficient for such the shall be
the credit
public such paving
bridges
January lat, 1928.
the Liquidation shall
dedicated of
bonds aside sinking fund sufficient in whole
eight millions of bonds before January
shall
Chicago
the they will be paid (which date shall
days from the date of said ADVERTISEMENT and the expiration
a shall
s. of
Debt hereby directed sell
Public Bonds
payment annual to
will
y provide the funds meet the interest charges thereon.
Be further That a
City
should
all of
the
call provided until January
debt shall b. levied and collected until that date until