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

, SAL A+na~ are :, shed; I" nr.v}"s
! fr'aa issuance aai sale Il i i. ~. :,
@a.t tarir "Nenluji from taAHs3..a'
All ta provide FIR Vac Submission ~
.he people Of the So" of Lor;s'a',s
ot coust;tiiHn, .e.vH,mant. Al
tat.,tE- H." i~s,.a II >ai3 bands asa
@d.HlHa the provisions II this Ac,
Whereas, dHe notice of this 1T his Lean
i,4iii-hei-in the City If New Ort,ans
t,r more than thirty dus prior t. -
Introduction into the General Assem-
lily, ami due evidence thereof has !"rs
exhibited in the General Assembly;
and
Whereas, the bonds authorized TO be IS
sued by the City Of New Orleans un-
der the i1ro. isions Of Act No. OF tie
extra session of 1899, ratified ~
constitutional amendments 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 AMI
the General Assembly is advised TN.
1t VIII probably require eight NIT
hon dollars additional to complete saia
systems; and
hereas, 10y the increase of asscssmeu-s
IN the City Of New Orleans. present
and prospective the one half of he
surplus Of the one per cent del lax.
levied by virtue Of Article 81 1T the
Constitution Of the State Of Louisiana
of 1898, and the special tax OF TWO
mills, voted r. the taxpayers IT iii,
City of New Orleans on the Sta ,...y
Of June 1899. are and VIII be 3a.rs
than sufficient to pay the intere-. -
the twelve million dollars of han.!s
issued under said Act 10.
of the extra session Of I>oo.
and actually produce a large su.rlus
dedicated by said act 10 the purpose.
thereof, which is and will be sufficient
to permit the capitalization thereof
by the issuance Of eight million ,lol-
lars Of bonds. and the retirement there-
of prior to January ]. 1912: and
it is of the greatest inpor-
lance to the City Of New Orleans, and
the people of the whole State. taat
thSe great public works shall he
speedily completed, and TIL. their com
pletlon should not be deferred through
a long series Of years by the gradual
Application to that end of the sati
surplus. as it accrn"s year by wear:
Section l. BE it enacted by the t,ea,
raj Assembly of the State Of LOU,
ana two-thirds of all the members elect
81 10 each House concurring, That sub
ect to the ratification Of the people II
he State of Louisiana. bv the abortion
i an amendment to the Constitution II
he state, hereinafter submitted tG tenn
he CITY OF New Orleans shall have power
o issue, and it shall be its duty 10 ISSUE
'onds aggreeating eight million do!.ars
at"d }. 'nuarv /, 1907, bearing four pei
ent per annum interest, payable semi
nnGally, the principal of which shall
e payable. at the option of the citv, a,
ny time between January !, 1928. and
anuary !, 1912. Said bonds shall h
fyled ''New public Improvement bond.
the City of New Orleans - They shall
e of the denomination OF one thousand
ollars EACH payable in lawful money
t the United States with semi-annua
lterest coupons annexed, payable JAY
and January /. They shall he signe.,
the Mayor and Comptroller Of =.
Ity of New Orleans and countersiGred
the President or Vice President and
'cretary of the Board Of Liquidation Of
e City Debt. They may be registered
I'd released from registry unde. III.
les and regulations prescribed nv said
oard of Liquidation, and no register.
bond shall be negotiable Like other
~ bonds, they shall be exempt from all
xation, State, parish and municipal
d the tutors Of minors anl curator.
interdicts shall he authorized TO n.
st tie funds in their hands In such
IDS.
Section .. BE If further enacted. etc.
lat as soon rs constitutional autheri
for the issuance Of said bonds shall
We been obtained, it she'll be he ,lu-y
the Board Of Liquidation Of the ('itv
ut, at the expense of the special -al
nd IN their possession. to cause SD
nis to be engraved and executed a15
held same subject to the requi~itipn
the Sewerage and Water Beard Of
w Orleans. From time TO -i,,p. AZ
'ected by said Sewerage ami water
ard, said Board Of Liquidation shall
| said bonds in such amounts as il
y be requested so to do, by sealnd pro.
sails to the highest bidder, for no. .as.
IN par and accrued interest a'teI
rty days advertisement Of suci. sales
one newspaper published in each ot
cities of New York, Chicago anl Nco
leans.
Section g. BE it further enacted. etc.
at the proceeds Of all such sales b.
d by the Board Of Liquidation an1
d over on the warrant of the Sew.
ge and Water Board in the manner