The St. Mary banner., 1906-09-01

| per annum on the principal Of said ceTti-
ficates from said October lst. 1908, pro,
| videl, that for the purposes Of this Act
| no interest on said certificates shall hc
! allowed after January lst 1901. such
| payment must lc made onlv t. the I..r-
sons named in such certificates. OF 40
their heirs Or logatces. ~ ID th@i. Iulr
| authorized counsel; uran surrender n
the original certificates Of indebtedness.
Section !. ~ II further cnarte,,. a. !.
That the principal and interest If sai,i
bonds shall be paid ~ preference out
Of that onH-haf o. tie surplus Of IL"
1ao nor cent debt tax levied hv thr C.tv
of New Orleans bv virtue of Arlic.,. -
q the Constitution If Louisiana. which
i dedicated for public school purposes:
and in making in each year apport;on-
menf Of the surplus Of said tax. the
Board Of Liquidation shall from The one
half apportioned t. the public schools Of
New Orleans. withhold. ~ preference, n
sum sufficient to pay the semi annual
interest on said bonds and the sinking
fund hereinafter provided for.
Section >. BE it further enacted. etc,
That after January ist. 1917. The said
Board of Liquidation shall, out Of tie
sad one-halt surplus Of said tax appor-
toned 10 school purposes set aside sink
ing fund sufficient in amount 10 retire
the whole Of said issue Of bonds. on or
before January lst. 1927. and shall, from
time to time. ana at least once every
three months, said fund acclmn1atcs.
elect by lot the numbers of the bonds
70 he retired at par and accrued interest.
and shall advertise for ten davs in .
newspaper published in each Of the cicies |
OF New York and New Orleans. the num- !
bers of said bonds and the date they will |
he paid (Which date shall be not more
than thirty days from the date of said |
advertisements and 1T the expiration !
u said date said bonds shall cease to
bear interest.
Section o. Be it further enacted, cte.. /
That AL the substantial provisions Of
ms Act shall cons titutc a contrart be-
weos' the holders Of bonds issued here
1nder, the State of Louisiana and the
ity Of New Orleans
Section I. Be it further enacted, etc,
lat at the congressional election to lie
leid 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.
hall be submitted to the electors of the
State, to-wit:
The City of New Orleans shall have
'oWcr and it shall be its duty to issue
wo hundred thousand dollars of bonds
Known as ''ochool teachers salary
'onds, for the purposes and under the
provisions and conditions set forth in ,
he special act Of the Legislature adopted !
that end and for that purpose, at the
egular session of 1906, which said act IS 6
ercby ratified and approved; and al
rovisions Of the present Constitution of
ne State in conflict with the provisions !
said act. and with his amendment are.
that extent, and for that purpose on.5.
npcalcd.
Section s. Be it further enacted. and q
'solyed, etc, That on the official ballots
be used at said election shall be placed j,
le words: "For the City Of New Or :
ans school teachers salary bond amend
ent;' and the words "sAgainSt the
lty Of New Orleans school teachers B
larry bond amendment;' and each clec-
T shall indicate his vote on the pro j.
'sed amendment as provided III the
neral election laws of this State.
J. W. HYAMS,
'eaker of the House of Representa-
tiyes
J. Y. SANDERS,
eutenant Governor and President of er
the Senate. of
oproved June II. 1906. cu
NEWTON G. BLANCHARD. tn
'yernor of the State OF Louisiana. be
\ true copy:
JOHN T. MICHEL, 'ce
rretary of State. or