The southern sentinel. (Winnfield, La.) 1883-1910, 1906-09-14
ACT NO. 2.
House Bill No. IS.

To authorize and require the City of New
Orleans, through the Board of Liquidation
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
nent 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, anil ratifying
the provisions of this Act
whereas, the City of New Orleans has for
many years. been indebted to her school
teachers and portresses, meritorious body
of her citizens, for personal services rem
dered under contract with the Board OF
Directors OF her public schools; and
whereas, the people of this State, by the pro-
visions of Article 3l5, 3l6 and 81! of the
Constitution of 1885, required the City of
New Orleans to examine into and assume
the payment of these debts, and provided
therein for their payment in manner
then believed to be sufficient and eftica-
cious; and
the city did examine and assume this debt,
but the provision made in the Constitution
for the payment thereof was sufficient only
to iiquidate the assumed Indebtedness FOR
the years 1882, 1883 and 1884, leaving unpaid
the assumed Indebtedness for the years
1885, 1886 and 1887: and
Whereas. the CITY of New Orleans did, by
Ordinance No. 244, New Council Series.
approved October LIST, 1903. assume the
Indebtedness reported by its Finance Com
mittee as due by the School Board of said
city to teachers for salaries OF school
teachers and pertresses for the years 1899,
1856 and 1887, and did issue certificates OF
indebtedness therefor, amounting IN the
aggregate to one hsndred and seventy-four
thousand, six hundred and s.xty-two
(Sl74,f62uO dollars: and
Whereas due notice of this Act has been pub
lished 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 l. Be IL enacted by the Generai
Assembly of the State of Louisiana, two thirds
of all the members elected to each house con-
curing; That subject 70 the ratification OF the
abolition of an amendment to the Constitution
of the State hereinafter submitted to them the
CITY of New Orleans shall have power TO Issue,
and II shall be its duty to issue bonds, not to
exceed two hundred thousand dollars ls2OO,UUl
in amount, dated January LIST, lsi, bearing
annually the principa. of which shall be
payable at the option of the city, at any time
between January LIST, lsia, ana ylnuar ,. ~,
ers salary bonds of the City OF New Orleans.
They shall be of the. denomination OF one
money of the United States with semi-annnal
interest coupons annexed payable July LIST and
january LIST. They shall be signed by the
Orleans and countersigned by the President
or Vice President and Secretary OF the Board
of Lilo iidation of the City Debt. They may be
registered and released from registry under
the rules and regulations prescribed by said
Board of Liquidation, and no registered BOND
shall be negotiable; Like other eity e ssass
parish and municipal, and the tutors OF
minors and curators of iuterdicts shall De
authorized to invest the funds IN toeir hands
Section 2. Be it further enacted, ETC., That
as soon as constitutional authority Tor the
issuance OF said bonds shall have been obtained,
il shall be the duty of the Board OF Liqulda-
tion of the City Debt. at the expense OF the
one-han of the one per cent debt tax, aevoted
to school purpc ses, and appropriated by said
Board to cause said bonds TO be engraved and
executed and to sell the same at not less than
par ard accrued interest. by sealed proposals,
to the highest bidder, after thirty days adyer-
tisementin two papers pnolished In tne City
of New Orleans.
the Board OF Liquidation shall, with the pro-
ceeds of said bonds take up and pay the certin-
Gates issued by the City OF New orleans ior tne
salaries of school teachers and portresses OF
the public schools for the years 1885, 1880 and
1857, under the provisions OF Ordinance No.
3o4! New Council Series approved OCTOBER III ~
principal Of said certificates from salu
October LIST, 1903, provided that for the pur-
shall be allowed after January LIST, lsF. Such
payment must be made only to the persons
named in such certificates or 70 tneir heifs or
legatees. or to their duly authorized counsel,
upon surrender of the original certihcates OF
Section 4. BE it further enacted, etc., That
the principal and interest of said bonds shall
be paid by preference out Of that one-half Of
the surplus Of the one peg cent debt tax levied
Article sH of the Constitution OF Louisiana,
which is dedicated for public school purposes.
and in making if each year apportionment OF
ton shall from the one-haf apportioned to the
public schools of New Orleans, withhold, oy
preference sum suhe,ent 70 Pay me s,n SEM,
annual interest on said bonds, ano the SINKING
fund hereinafter provided for.
Section 5 Be ii further enacted. ETC., That
Iiauidation shall, out of the said one half
surplus OF said tax apportioned to school
purposes, set aside a sinking fund sumc1ent IN
bonds on or before January LIST, 1877. and shall,
from time to time, and at least once every
three months. IS said fund accumulates. seiecs
by lot the numbers of the bonds to be retired
at par and accrued interest, and shall advertise
for ten days In newspaper puohsneo IN
each Of tie cities Of Sew fS Sonas sn and he
date they will be paid (which date shall be not
more than thirty days from the date OF said
date said bonds shall cease to bear interest.
Section 6. Be it further enacted, etc., That
Ill the substantial provisions OF this Act shall
constitute contract between the holders OF
bonds issued hereunder, the State OF Louisiana
and the City Of New Orleans.
Section Z. Be it further enacted. and re-
solved. ETC., That at the congressional election
to be held in this State, on the first Tuesday
following the first Monday OF November, 1905,
the e BE To
the electors of the State. to-wit:
The City OF New Orleans shall have power
ana II snail De It's duty 70 issue kNo HuuufSu
thousand dollars of bonds, known as "School
teachers salary bonds,- for the purposes and
under the provisions and conditions set forth
in the special act of the Legislature adopted to
that end and for that purpose, at the regular
session of 1906, which said act is hereby ratified
and approved; and all provisions OF the present
Constitution Of the State in conflict with the
provisions Of said act and with this amend
ment are, to that extent, and for that purpose
only, repealed.
Section 8. Be it further enacted, and re-
solved, etc, That on the official ballots to be
used at said election shall be placed the words:
For the City OF New Orleans school teachers
salary bond amendment;n and the words:
Against the City Of New Orleans school
teachers salary bond amendment and each
elector shall indicate his vote on the propos> I'd
amendment IS provided In the general election
laws Of this State, j. W. HYAMS
Speaker OF the House OF Representative
J. Y. SANDERS,
Lieutenant Governor and Pres. OF the Senate.
Approved june II, 1905.
NEWTON c. BLANCHARD,
Governor Of the State of Louisiana
A true copy:
JOHN r MICHEL,
Secretary OF State.