The weekly messenger. [volume] (St. Martinsville [i.e. St. Martinville] La.) 1886-1948, 1906-10-06

anu their exemption from taxation;
and to provide for the submission to
the people of the State of Louisiana
or a constitutional amendment, au-
thorlzing the issue of said bonds and
confirming the provisions Of this Act.
Whereas, due notice of this Act has been
published in the City Of New Orleans
Tor more than thirty days prior to its
introduction into the General Assem-.
bly,, and due evidence thereof has been
exhibited in the General Assembly,
and
Whereas, the bonds authorized to be L..
sued by the City Of New Orleans un-
der the provisions of Act No. 6 Of the
extra session Of 1899, ratified BY .
constitutional amendment, adopted at
the general election Of 1900, have not
proved adequate to he completion Of
the sewerage, water and drainage sys-
tens OF the City Of New Orleans ana
the General Assembly is advised that
it win probably require eight mil
hon dollars additional to complete said
systems; and
Whereas, by the increase Of assessments
in the City Of New Orleans, present
and prospective, the one half of the
surplus Of the one per cent debt tax.
levied BY virtue of Article 314 of the
Constitution Of the State Of Louisiana
OF 1898, and the special tax of two
Z mills, voted by the taxpayers of thu
City Of New Orleans on the 9th day
OF June 1899, are and will be more
than sufficient to pay the interest on
the twelve million dollars of bonds
issued under said Act No.
OF the extra session of 1899,
and actually produce a large surplus
dedicated by said act to the purposes
thereof, which is and will be sufficient
to permit the capitalization thereof
by the issuance Of eight million dol
lars OF bonds, and the retirement there
Of prior to January /, 1912; and
Whereas, it is Of the greatest impor
lance to the City of New Orleans. and
the people of the whole State, that
these great public works shall BE-
speedily completed, and that their com.
pletion should not be deferred through
long series of years by the gradual
application to that end of the said
surplus, as it accrues year by year:
Section i. Be it enacted by the Gen.
eral Assembly Of the State of Louis
ANA, two-thirds of all the members elect.
I'd to each House concurring, That sub
lect to the ratification Of the people Of
he State Of Louisiana, by the adoption
II an amendment to the Constitution OF
he State, hereinafter submitted to them
he City of New Orleans shall have power
70 issue, and it shall be its duty to issue
bonds aggregating eight million dollars.
lated January l, 1907, bearing four pei
'ent per annum interest, payable semi
annually, the principal Of which shall
'e payable, at the option Of the city, al
my time between January i, 1928, and
January l, 1912. Said bonds shall b
tyled "New public Improvement bonds
# the City Of New Orleans" They shah
'e OF the denomination of one thousand
dollars each, payable in lawful money
# the United States with semi-annua
interest coupons annexed, payable July
and January 1. They shall be signed
y the Mayor and Comptroller Of the
ity of New Orleans and countersigned
y the President or Vice President and
Of the Board Of Liquidation Of
ne City Debt. They may be registered
nd released from registry under the
ules and regulations prescribed by said
soard Of Liquidation, and no register.
d bond shall be negotiable. Like othe,
ity bonds, they shall be exempt from all
axation, State, parish and municipal
nd the tutors Of minors and curators
t interdicts shall be authorized to In.
est the funds in their hands in such
onds.
Section 2. Be it further enacted, etc,
hat as soon as constitutional authori.
= for the issuance Of said bonds shall
ave been obtained, it shall be the duty
T the Board of Liquidation Of the City
)ebt, at the expense Of the special ia,
und in their possession, to cause said
onds to be engraved and executed and
D hold same subject to the requisitios
f the Sewerage and Water Board Of
Few Orleans. From time to time, a.
ERECTED by said Sewerage and Water
'oard, said Board Of Liquidation shall
ell said bonds in such amounts as Il
Jay be requested so to do, by sealed pro.
osals to the highest bidder, for not less e.
han par and accrued interest, after
hirty days advertisement of such sale.
, one newspaper published in each Of
ne cities Of New York, Chicago and New
'rleans.
Section 8. Be it further enacted, etc.
hat tho rrocoadc of oil such cole, T..