The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-10-20
Proposed Amendments to the
Constitution,
State Of Louisiana.
ACT no. 2.

To authorize and require the City OF New
Orleans, through the Board Of Liqui
dalton Of the City Debt, to issue ant
sell bonds. which shall be exempt from
taxation, for the payment Of the deb
due for salaries Of school teachers ant
portrcsses for the years 1885, 1885,
and 1887; to provide for the payment
of the principal and interest Of sale
bonds; and to submit to the people
IN amendment of the Constitution
authorizing the issuance of said bonds
and ratifying the provisions of this
Act.
Whereas, the City Of New Orleans has
for many years been indebted to hel
school teachers and portresses, merit
orious body of her citizens, for per
sonal services rendered under contract
with the Board of Directors of her
public schools; and
Whereas, the people Of this State, BY
the provisions of Article 3l5. BIC and
317 Of the Constitution of 1898, requir-
ed 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-
ieved to be sufficient and efiicacious !;
and
Whereas. under said constitutional d.
rections, the city did examine and as
sumo this debt, but the provision made
in the Constitution for the payment
thereof was sufficient only to liquidate
the assumed Indebtedness for the years
1882, 1883 and 1854, leaving unpaid
the assumed Indebtedness f.! the years
1885, 1886 and 1887; and
Whereas, the City Of New Orleans did.
by Ordinance No. 2044, New Council
Series, approved October lst 1909. as
sumo the Indebtedness reported by IFS
Finance Committee as due by the
School Board Of said city to teachers for
salaries of school teachers and portess-
es for the years 1885, 1886 and 1887,
and did issue certificates of indebted
ness therefor, amounting in the ag
gregate to one hundred and seventy
four thousand, six hundred and sixty
two ($l74G62. O0) dollars; and
Whereas due notice Of this Act las 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-
hihited in the General Assembly:
Section l. Be it enacted by the Gen
eral Assembly OF the State Of Louisiana,
t~o 4h;rJc ~ I'll +,,o r,ornbo., ,Io,@,l y,
each House concurring; That subject to
the ratification Of the people Of the State
Of Louisiana, by the adoption Of an
to the Constitution Of the
State hereinafter submitted to them the
City Of New Orleans shall have power
to issue, and it shall be its duty to issue
bonds, not to exceed two hundred thous-
and dollars (420o,ooo.Oo) in amount,
dated January 1st, 1907, bearing 4 per
cent per annum interest payable semi
annually, tne principal of which shall be
payable at the option of the city, at any
time between January l,t, 1917, and |
January LIST, 1927. Sail bonds shall be |
styled "School teachers salary bonds |
IF 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 in
crest coupons annexed payable July 1st !
Ind January lst. They shall be signed |
~ the Mayor and Comptroller of tie
lily of New Orleans and countersigned |
y the Presiden. or Vice President and |
Secretary Of the Board Of Liquidation
+ the City Debt. They may be regis
cred and released from registry under
be rules and regulations prescribed by
hid Board Of Liquidation, and no reg
stored bond shall be negotiable. Like
ther city bonds, they shall be exempt
rom all taxation, State, parish and mu-
icipal, and the tutors Of minors and
TRAITORS Of interdicts shall be authorized
int the funds in their hands in
,ch ,slnds.
Section Q. Be it further enacted, etc,
hat as soon as constitutional authority
" the issuance of said bonds shall have
cen obtained, it shall be the duty Of
re Board of Liquidation of the CITY
eot, at the expense of the one half Of
e one per cent debt tax, ,levu,c.! 10
hool purposes, and apportioned ly said
GARD. to cause said bonds to be en-
aved and executed, and to sell the same
not less than par and accrued into rest,
sealed proposals, to the highest i.'ier &
ter thirty days advertisement in two ;
pers published in the City of New Or i
ans.
Section 3. Be 1t further enacted, ETC., t
lat the Board of Liquidation shall, with t
proceeds Of said bonds take up and
, the certificates issued by the City I
New Orleans for the salaries of school r
lchers and portresses Of the public [
FOOLS for tho years 1855, 1886 and a
-, under the provisions Of Ordinance ] t
}. 2044 New Council Serbs. approved 9