The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-09-08

October 1st, 1903. with four per cen
per annum on the principal of said certi
fcates from said October 1st. 1903. PRO
ylded, that for the purposes OF this Act
no interest on said certificates shall be
J Showed after January LIST 1907. Such
payment must be made only to the per
| sons named in such certificates. or 10
their heirs or legatees, or to their duly
authorized counsel; upon surrender Of
| tie original certificates of Indebtedness.
| Section I. BE it further enacted. etc,
That the principal and interest of said
bonds shall be paid by preference out
Of that one-half o. the surplus of the
one per cent debt tax levied by the City
| Of New Orleans by virtue Of Article 314
Of the Constitution Of Louisiana, which
is dedicated for public school purposes;
and IN making in each year apportion-
| ment Of the surplus Of said tax. the
Board Of Liquidation shall from the one
half apportioned to the public schools of
New Orleans, withhold, by preference, a
sum sufficient to pay the semi -annual
interest on said bonds, and the sinking
fund hereinafter provided for
Section 5. Be it further enacted. etc,
That after January 1st, 1917, the said
Board of Liquidation shall, out of the
said one-half surplus of said tax appor-
toned to school purposes set aside sink
ing fund sufficient in amount to retire
the whole Of said ISSUE Of bonds, on or
before January LIST, 1927, and shall, from
time to time, and at least once every
three months, as said fund aceumulates,
select by lot the numbers of the bonds
to be retired at par and accrued interest,
and shall advertise for ten DAYS in j
newspaper published in each of the cities
Of New York and New Orleans, the num-
bers Of said bonds and the date thew Will
be paid (Which date shall be not more
than thirty days from the date of said
ADVERTISEMENT and at the expiration
Of said date said bonds shall cease to
bear interest.
Section g. Be it further enacted. etc.
That all the substantial provisions of
this Act shall constitute contract be-
tween the holders of bonds issued here
under, the State of Louisiana and the
City Of New Orleans.
Section Z. Be it further enacted. etc,
That at the congressional election to be |
held in this State on the first Tuesday |
following the first Monday of November
1906, the following amendment to the
of the State of Louisiana,
shall be submitted to the electors of the
State, to-wit:
"The City Of New Orleans shall have
power and it shall be its duty to issue
two hundred thousand dollars of bonds
known as "School teachers salary
bonds, - for the purposes and under the
provisions and conditions set forth in
he special act of the Legislature adopted
% 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
he State in conflict with the provisions
# said act, and with his amendment are,
o that extent, and for that purpose oni.,
epealed.
Section s. Be it further enacted. and r
esolved, etc, That on the official ballots
Q be used at said election shall be placed
he words: "For the City of New Or s
cans school teachers salary bond amend
lent;' and the words: "Against the
'ity Of New Orleans school teachers
alary bond amendments and each cleo
'r shall indicate his vote on the pro- ]
osed amendment as provided III the
eneral election laws of this State.
J. W. HYAMS,
peaker Of the House Of Representa-
tives.
j. Y. SANDERS,
lieutenant Governor and President of O,
the Senate lo1
pproved June II, 1906. c,
NEWTON C. BLANCHARD. tn
overnor Of the State Of Louisiana, be
A true copy:
JOHN T. MICHEL, ice
,cretary of State. OF
ACT NO. 3. W :"
7 Mr.. Pearce. House Bill No. 40. 70
JOINT RESOLUTION. ~
opposing an amendment to Article o5(j -
of the Constitution Of the State of ~
Louisiana, relative to the removal of M
the limitation on appropriations for 90