The Lafayette advertiser. [volume] (Vermilionville [i.e. Lafayette], La.) 1865-19??, 1906-10-10
ACT NO. ,.

To authorize and require n City OF
New Orleans. through the Board OF
Liquidation of the City Debt. To is
u and sell bonds. which shall be
exempt from taxation, for the pay
ment OF the debt due for salaries of
school teachers and portresses for
the years 1855, 1856 and 1887: TO pro-
vide for the payment of the princi-
pal and interest of said bonds: and
to submit to the people an amend
ment of the Constitution authorizing
the issuance of said bonds, and rati-
fving the provisions of this Act.
Whereas, the City of New Orleans has
for many years, been indebted To
her school teachers and portresses.
a meritorious body of her citizens,
for personal services rendered UNI
der contract with the Board of Di-
rectors of her public schools: and
Whereas, the people of this State, by
the provisions of Article 3l5, BIG
and 81 of the Constitution OF 1888,
required the City of New Orleans to
examine into and assume the pay
ment of these debts, and provided
therein for their payment in a man
ner then believed to be sufficient and
eficacious: and
Whereas, under said constitutional
directions, the city did examine and
assume this debt, but the provision
made in the Constitution for the pay
ment thereof was sufficient only to
liauidate the assumed indebte dness
for the wears 1882. 1888 and 1884,
leaving unpaid the assumed indebt-
edness for the years 1885, 1886 and
1887: and
Whereas. the City of New Orleans did.
BY Ordinance No. 2044. New Council
Series, approved October LIST 1903,
assume the Indebtedness reported by
its Finance Committee as due by the
School Board of said city to teach
ers for salaries of school teachers
and pOrtresses for the years 1885,
1886 and 1887. and did issue certifi-
Gates of indebtedness therefor.
amounting in the aggregate to one
hundred and seventy-fOur thou
sand. six hundred and sixty-twO
(Sl74. 1852. OO) 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 introduction into the
General Assembly, and due evidence
thereof has been exhibited in the
General Assembly:
Section /. Be it enacted by the
General Assembly of the State of
Louisiana. two thirds of all the men,
bers elected to each House concurring:
That subject to the ratification of the
people of the State of Louisiana, by
the adoption of an amendment to the
Constitution of the State hereinafter
submitted to them the City of New
Orleans shall have power to issue.
and il shall be its duty to issue bonds.
not to exceed two hundred thousand
dollars 5000. 600. 00) in amount. dated
January lst. 1907, bearing I per cent
per annum interest payable semi-an-
nually. the principal of which shall be
payable ut the option of the city. ut
any time between January 1st, 1917. and
January lst. 1927. Said bonds shall
be STYLED ''School teachers salary
bonds of the City of New Orleans"
They shall be Of the denomination of
one thousand dollars each. payable in
lawful money of the United States,
with ~semi-annual interest coupons IN
nexed payable July LIST and January
| lNl. lflCN Stull DC III - tIt
Mayor and Comptroller of the City of
New Orleans. and ~countersigned by
the President or Vice-President and
Secretary of the Board of Liquidation
of the City Debt. They may be regis
tered and released from registry under
the rules and regulations prescribed
by said Board of Liquidation. and no
registered bond shall be negotiable.
Like other city bonds, they shall he
exempt from all taxation, State. par
ish and municipal. and the tutors of
minors and curators Of interdicts shall
be authorized 20 invest the funds in
their hands in such bonds.
Section ,. Be it further enacted.
etc.. That as soon as constitutional
authority for the issuance of said
bonds shall have been obtained, il
shall be the duty OF the Board of Lii
~quidation Of the City Debt. at the
expense of the one-half OF the one per
cent debt tax, devoted to school pur-
poses, and apportioned by said Board,
to cause said bonds to be engraved
and executed. and to sell the same at
not less than par and accrued interest,
by sealed proposals, to the highest
bidder, after thirty days advertise
ment in two papers published in the
City of New Orleans.
Section 3. Be it further enacted,
etc.. That the Board of Liquidation
shall. with the proceeds of said bonds
take up and pay the certificates is
sued by the City of New Orleans for
the salaries Of school teachers and
portresses of the public schools for
the years 1885, 1885 and 1887, under
the provisions of Ordinance No. 204l
New Council Series, approved Octo.