The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-10-27
ST. MARY BANNER.
Proposed Amendments to the
Constitution,
State Of Louisiana
ACT NO. 9.

BY Mr.. Dupre. House Bill No. 80.
AN ACT
To authorize and require the City OF New
Orleans, through the Board of Liqui-
dalton 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 1885, 1886
and 1887; to provide for the payment
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,
and ratifying the provisions Of this
Act.
Whereas, the City Of New Orleans has
for many years been indebted to her
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, 3l6 and
BIT 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.
lieved to be sufficient and efficacious;
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 1884, leaving unpaid
the assumed Indebtedness for lie years
1885, 1886 and 1887; and
Whereas, the City Of New Orleans did,
BY Ordinance No 2O44, New Council
Series, approved October LIST 1903, as
sumo the Indebtedness reported hy rs
Finance Committee as due by the
School Board Ct said city to teachers for
salaries of school teachers and portess-
es for the years 1855, 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 ($l74 $4,000 dollars: and
Whereas due notice Of this Act has been
published 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 ex-
hibited in the General Assembly:
Section l. Be it enacted by the Cen
eral Assembly of the State Of Louisiana,
two thirds Of all the members elected to
each House concurring; That subject to
the ratification Of the people Of the State
Of Louisiana, by the adoption OF an
amendment 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 $500, o0O.oo) in amount,
dated January lst, 1907, bearing 4 per
cent per annum interest payable semi
annually, the principal Of which shall be
payable at the option of the city, at any
time between January 1T, 1917, and
January lst, 1927. Sail bonds shall be
styled "School teachers salary bonds
of tho City of New Orleans. 7" They shall
b Of the denomination of one thousand
dollars each, payable in lawful money Of
the United States, with semi-annual in
terest coupons annexed payable July LIST
and January LIST. They shall be signed |
by the Mayor and Comptroller Of the
City of New Orleans and countersigned |
BY tho President or Vice President and |
Secretary Of the Board of Liquidation |
Of the City Debt. They may be regis
tered and released from registry under |
The rules and regulations prescribed by |
aid Board Of Liquidation, and no reg.
Istered bond shall be negotiable Like
other city bonds, they shall be exempt |
from all taxation, State, parish and mu-
nicipal, and the tutors Of minors anil |
,urators Of interdicts shall be authorized
70 int the funds in their hands in
'uch ENDS.
Section 2. Be it further enacted, ETC.,
That as soon as constitutional authority
or the issuance of said bonds shall have
'een obtained, it shall be the duty Of
he Board of Liquidation of the City
Debt, at the expense of the one half Of
he one per cent debt tax, devo,"' :"
chool purposes, and apportioned by SAL!
3oard, to cause said bonds to be en-
'raved and executed, and to sell the 81 me
t not less than par and accrued interest,
= sealed proposals, to the highest bidder
fter thirty days advertisement III two
apers published in the City Of New Or
cans.
Section 3. Be 1t further enacted, etc.,
hat the Board Of Liquidation shall, with
ne proceeds Of said bonds take up and
az the certificates issued by the City
New Orleans for the salaries Of school
.achers and portresses Of the public