The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-09-15
prppossd Amendments to the
Constitution,
State Of Louisiana.
ACT NO. 2.

s ,.an,. through the Board Of Liqui
son Of the City Debt, to issue ano
= bonds, which shall be exempt from
..;on for the payment Of the debt
=. ;or salaries of school teachers and
y. '.,ssses for the years 1885, lSSf
~ 1857; to provide for the payment
-. y The principal and interest of said
seods; and to submit to the people
' amendment Of the Constitution
.0,horizing the issuance of said bonds,
md ratifying the provisions OF this
,,, S.s the City of New Orleans has
Y for fol- many years been indebted to her
..hool teachers and portresses, a merit
. body of her citizens, for per
..r.l services rendered under contract
E.b ths Board of Directors of her
nublc schools; and
ksereas, the people of this State, by
The provisions of Article 3l5, BIG and
AZ Of the Constitution of 1898, requir-
n 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
ror.d to be sufficient and efficacious;
and
rhereas. under said constitutional d.
,.ctions, the city did examine and as
anne this debt, but the provision made
! d the Constitution for the payment
thereof was sufficient only to iquidate
| !. assumed Indebtedness for the years
Sss. 1883 and 1884, leaving unpaid
! d. assumed Indebtedness for the years
1855, 1856 and 1887; and
Fbereas, the City Of New Orleans did,
BY Ordinance No. 2044, New Council
! Series, approved October LIST 1903, as
mme the Indebtedness reported by IFS
Finance Committee as due by the
hOol Board of said city to teachers for
salaries Of school teachers and portess-
Is for the years 1885, 1856 and 1887,
md did issue certificates Of indebted
ness therefor, amounting in the ag-
regate to one hundred and seventy
| four thousand, six hundred and sixty
two ($174,6620O) dollars; and
hereas due notice Of this Act has been
published in the City of New Orleans
for more than thirty days prior to its
oduction into the General Assembly, |
d due evidence thereof has been ex-
j lifted in the General Assembly:
section l. Be it enacted by the Cen
! Assembly of the State of Louisiana,
10 thirds Of all the members elected to
|eh House concurring; That subject to
! ratification Of the people Of the State
Louisiana, by the adoption Of an
bendment to the Constitution of the
bate hereinafter submitted to them the
|ty Of New Orleans shall have power
issue, and it shall be its duty to issue
Dnds, not to exceed two hundred thous-
4 dollars ($2oo,0oo.oo) in amount,
ID January LIST, 1907, bearing 4 per
! per annum interest payable semi
Tally, the principal Of which shall be
'yable at the option Of the city, at any
ne between January 1,t, 1917, and
'auary LIST, 1927. Sail bonds shall be
9led "School teachers salary bonds
TIE City Of New Orleans. J." They shall
Of the denomination Of one thousand
vars each, payable in lawful money of
United States, with semi-annual in
'st coupons annexed payable July 1st
January 1st. They shall be signed
me Mayor and Comptroller of the
y OF New Orleans and countersigned
tae President or Vice President and
sresary Of the Board Of Liquidation
ue Cty Debt. They may be regis
&c and released from registry under
!, TUES and regulations prescribed by
y board Of Liquidation, and no reg
aeo bond shall be negotiable. Like @
. elfy bonds, they shall be exempt {
= az taxation, State, parish and mu- t
-pa1 ana the tutors Of minors and .
s'0S OF interdicts shall be authorized 7
. r the funds in their hands in !
. ends.
' ! ?. Be it further enacted, etc.,
a. ~ soon as constitutional authority | n
= issuance Of said bonds shall have {
: . oO'alned, it shall be the duty of h
i Dosfa Of Liquidation of the City I,
= y tne expense of the one-half of a
II - per cent debt tax, devoted to n
M purposes and apportioned by said l.
cause said bonds to be en- .,
= ~ :, .ao executed, and to sell the same G
PA, s0aa par and accrued interest, 81
~ ~ proposals, to the highest bidder a.
H days advertisement in two ! a,
p1Onsaed In the City Of New Or in
~ .a = :. Be 1t further enacted. etc.. Ii
s,.. Doafd Of Liquidation shall, with tie
\ . o. said bonds take up and
49, ssnnhcates issued by the City T
\, .Ss Tor the salaries Of school m
), .ao portresses Of the public L,
~, ..l the years 1885, 1886 and as
~ - ne provisions of Ordinance | tn
WV Council Series. approved &c