The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-09-29
'ppposed Amendments to the
!. Constitution,
! State Of Louisiana.
ACT NO. 2.

ACT NO. 2.
-, n,nre. House Bill No. IS
AN ACT
.,tbor;ze and require the City Of New
".,..n,. through the Board Of Liqui
s s.,on Of the City Debt, to issue ant
u bonds, which shall be exempt from
.....ion, for the payment Of the debt
8. for salaries of school teachers and
,tresses for the years 1885, 1886
"a 1857; to provide for the payment
3 tbe principal and interest of sait
s.a.. and to submit to the people
,mendment Of the Constitution
.,tborizing the issuance Of said bonds
A ratifying the provisions Of this
a.,..,. the City of New Orleans has
ssr many years been indebted to her
..hool teachers and portresses, a merit
.dou, body of her citizens, for per
..,.l services rendered under contract
I,h the Board Of Directors Of her
mbNc schools; and
vs.,a.. the people Of this State, BY
4. provisions of Article 315, BIG and
N Of the Constitution Of 1898, requir-
4 the City Of New Orleans to ex-
,Iane into and assume the payment of
aa,e debts, and provided therein for
Ill payment in manner then be
E.wd to be sufficient and eficacious;
nd
rserpas under said constitutional d.
n,;ous, tie city did examine and as
nue this debt, but the provision made
{ the Constitution for the payment
Hereof was sufficient only to iquidate
n assumed Indebtedness for the years
use, 1883 and 1884, leaving unpaid
d. assumed indebtedness for the years
1855, 1886 and 1887; and
rsas, the City Of New Orleans did,
u Ordinance No. 2044, New Council
Aries. approved October LIST 1908, as
rue the indebtedness reported by its
finance Committee as due by the
eol Board Of said city to teachers for
ahries Of school teachers and portess-
. for the years 1885, 1886 and 1887,
nd did issue certificates Of indebted
- therefor, amounting in the ag-
reeste to one hundred and seventy
"a thousand, six hundred and sixty.
- ($174, 662.00) dollars; and
mas due notice Of this Act has been
rbished in the City Of New Orleans
hr more than thirty days prior to its
reduction into the General Assembly,
"a due evidence thereof has been ex-
ihted in the General Assembly:
action l. Be it enacted by the Gen
Assembly OF the State Of Louisiana,
birds Of all the members elected to
= House concurring; That subject to
MITIGATION Of the people Of the State
louisiana, by the adoption Of an
adment to the Constitution Of the
! hereinafter submitted to them the
Of New Orleans shall have power
me- and it shall be its duty to issue
not to exceed two hundred thous-
dollars (s2oo,ooO.oo) in amount,
January lst, 1907, bearing 4 per
per annum interest payable semi
nlly, the principal Of which shall be
V at the option Of the city, at any
between January 15t, 1917, and
y! LIST, 1927. Sail bonds shall be
"School teachers salary bonds
City of New Orleans. - They shall
the denomination of one thousand
each, payable in lawful money Of
United States, with semi-annual in
coupons annexed payable July 1st
snuary LIST. They shall be signed
= Mayor and Comptroller of the
= New Orleans and countersigned
President or Vice President and
Of the Board of Liquidation
wy Debt. They may be regis
= released from registry under
ana regulations prescribed by
n q Liquidation, and no reg
e'ad shall be negotiable. Like
bonds, they shall be exempt
n1ation, State, parish and mu-
saa the tutors Of minors and
q nter&cts shall b authorized
the funds in their hands in
z. Be it further enacted, etc.,
0on as constitutional authority
uanee Of said bonds shall have
ned, it shall be the duty of
~ Of Liquidation Of the City
e expense Of the one-half Of
cent debt tax, devoted to
less'' and apportioned by said
. 1use said bonds to be en-
Aecuted, and to sell the same
van par and accrued interest,
roposals, to tho highest bidder
Jays advertisement in two
ued IN the City Of New Or
ne 1t further enacted, ETC.,
lo Of Liquidation shall. with
Of said bonds take up and
1acates Issued by the City
I0r the salaries ~ schooI !