The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-09-22


7 October lst, 1908, with four per cen
per annum on the principal Of said certi
! icates from said October 1st, 1903, pro
~ided. that for the purposes of this Ac
/ 40 interest on said certificates shall b,
ia.iowed after January 1st 1907. Sue
| payment must be made only to the per
| SONS named in such certificates. or L
their heirs or legatees, or to their dul,
authorized counsel; upon surrender 81
tie original cer,iicat,s of Indebtedness
Section A. BE it further enacted. etc.
That the principal and interest of sail
bonds shall be paid by preference Ell,
OF that onehalf 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 1st, 1927, and shall, from
time to time, and at least once every
three months, as said fund accumulates,
select by lot the numbers Of the bonds
to be retired at par and accrued interest,
and shall advertise for ten days in .
newspaper published in each Of the cities
Of New York and New Orleans, the num-
bers Of said bonds and the date they 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 6. Be it further enacted. etc,
That all the substantial provisions of
this Act shall constitute a 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
Constitution 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
,wo hundred thousand dollars of bonds |
known as "School teachers salary |
oonds,' for the purposes and under the
provisions and conditions set forth in
he special act of the Legislature adopted
o that end and for that purpose, at the
ocular session Of 1906, which said act IS
lereby ratified and approved; and all
PROVISIONS Of TIE present Constitution Of
he State in conflict with the provisions
+ said act, and with his amendment are,
that extent, and for that purpose on:.,
epealed.
Section 8. Be it further enacted, and
esolved, etc., That on the official ballots
} be used at said election shall be placed
lie words: "For the City Of New Or.
ans school teachers salary bond amend
lent;" and the words: "Against the
ity Of New Orleans school teachers
'lary bond amendment" and each cleo
II shall indicate his vote on the pro- .
osed amendment as provided il the
neral election laws of this State.
J. W. HYAMS,
oeaker Of the House Of Representa-
tives.
J. Y. SANDERS,
lieutenant Governor and President Of e
the Senate. To-
pproved June IL, 1906. G
NEWTON C. BLANCHARD. t.
'vernor Of the State Of Louisiana. b
A true copy:
JOHN T. MICHEL, 'c
cretary Of State. o
ACT NO. 3. y,
: Mr.. Pcarce. House Bill No. 43. :,
JOINT RESOLUTION. y,
opposing an amendment to Article 256 -
of the Constitution Of the State of i;
Louisiana, relative to the removal of =
the limitation on appropriations for a,
the Louisiana Industrial Institute, To- :;
Gated at Ruston, La, for maintenance
and support. :;
Section l. Be it resolved by the Gen &c
i Assembly Of the State of Louisiana, Or
o-thirds of all the me7bers elected .,
each House concurring. That Article to
of the Constitution Of the State ct 4,
r1iSiana ha amnndo6 and rooroo4o1 ~ | -