The southern sentinel. (Winnfield, La.) 1883-1910, 1906-09-28
ACT NO. 2.
House Bill No. IS,

By Mr. Dupre House Bill No. 3d.
AN ACT
To authorize and require the City Of New
Orleans through the Board of Liquidation
of the City Debt, to issue and sell bonds,
which shall be exempt from taxaion, LOT
the payment of the debt due tor salaries OF
school teachers and portresses for the years
ISL Iss5 and 1887; to provide for the pay
ment of the principal ana interest," on satu
bonds; and to submit TO the peopie an
amendment of the Constitution authorizing
the issuance of said bonds, AMI ratitylng
the provisions of this Act
Whereas, the City of New Orleans has Tor
many years. been indebted to her sehool
teachers and portresses. a meritorlous BODY
of her citizens. for personal services rem
dered under contract with the Board oil
Directors of her public schools; and
Whereas. the people of this state, by the pro.
visions of Article 3l5, 3l6 and 81! OF the
Constitution of 1898, required the Slty OF
New Orleans to examine into and assume
the payment of these debts, and provided
therein for their payment in manner
then believed to be sufficient and efhca-
cious; and
Whereas, under said constitutional directions,
the CITY did examine and assume TINS DEBT,
but the provision made in the Constitution
for the payment thereof was sufficient only
toliquidate the assumed Indebtedness 10,
the wears 1882 1888 and 1881, leaving unpait
the assumed Indebtedness for the years
1885, 1886 and 1887: and -
Whereas. the City of New Orleans dl1. oy
Ordinance No. 20i4, New Council series,
approved October LIST, 1906. assume the
Indebtedness reported by its Finance Com,
mittee as due by the School Board OF san
-ity to teachers for salaries OF scnoot
teachers and portresses for the years 1892
1885 and 1887, and did issue certificates OF
indebtedness therefor, amounting on ,,l,a anr
thousand six hundred and s,xty-two
fSI74. 662.0O dollars. and
Whereas due notice or this ACT mas osen pun,
lished in the City of New Orleans Tor more
than thirty days prior to its introaucuon
into the General Assembly. and due
evidence thereof has been exhibited IN the
Sectian /. Be il enacted by the General
Assembly of the State OF Louisiana, Two tnlrds
of all the members elected to eaeh nous con u.
curing. That subject to the ratification OF the
reople of the State of Louisiana, by the
adoption of an amendment to the Constitution
of the State hereinafter submitted 70 1as a,e
and il shall be its duty 10 issue bonus, NOT 70
exceed two hundred thousand dollars lszo9,uv9l
in amount. dated january LIST, lo., Seas sn1s;
annually the principal OF which shaii oe
payable at the option of the city, at any time
ss1 said bons shall be styled school teach
ers salary bonds of the City of New Orleans.
They shall be of the denomination OF one
thousand dollars ntS ea s,s. With semiannnai
interest coupons annexed payable July ist ano
january Ist They shall be signed by the
Mayor and Comptroller OF the City OF New
Orleans. and countersigned by the Presiden,
or Vice President and Secretary OF the Board
OF Lilo iidation of the City Debt. ThsE may DC
registered and released from registry uhues
the rules and regulations prescribed by said
Board of Liquidation, and no registered pona
shall be negotiable Like other city bonds,
they shall be exempt from all taxation, state,
narssb and municipal, and the tutors of
minors and curators OF iuterulcts shah oe
authorized to invest the funds in their hands
section D. Be 1t further enacted, ETC., That
as soon as constitutional authority for the
issuance of said bonds shall have been OBTAINED
r. o,-l NJ n
ton of the City Debt, at the expense OF the
oue-half of the one per cent debt tax, devoted
to school purposes, and appropriated by saia
Board to cause said bonds TO be engraved ano
executed. and to sell the same at not less than
par aid accrued interest. by sealed proposals,
to the highest bidder, after thirty days adyer-
tisementin two papers pnohsneo IN me oits
section 3. Be it further enacted, etc, That
the Board OF Liquidation shall, with the pro
cafes issued by the CITY OF New Orleans for the
salaries of school teachers and portresses OF
the public schools for the years 1880, 1880 ano
1887 under the provisions OF Ordinance No
204s New Council Series, approved October LIST
1913, with four per cent per annum on tne
principal Of said certificates from said
October LIST, 1903, provided that Tor the put
poses of this Act no interest on said certlncates
shall be allowed after January list, 1877. Suen
payment must be made only TO the persons
named in such certificates, or to their nelrs OF
legatees or to their duly authorized counsel
upon surrender Of the original certncases OF
indebtedness.
the principal and interest of said bonds shai
be paid by preference out OF that one-na.i Q,
the surplus of the one per cent. debt tax Levied
Article S4 Of the Constitution OF louisiana
which is dedicated for public school purposes,
and in making in each year app9r,ionme .;ds ..
ton shall from the one-haH apportioned 10 the
public schools of New Orleans, withhold, by
preference, sum sufficient to pay the semi,
annual interest on said bonds, and the SINKING
fund hereinafter provided for.
Section Be il further enacted. etc, Tna'
after January LIST, 1917. the said Board q
Liquidation shall, out OF the said one hai
surplus of said tax apportioneo 70 scnoo
purposes set aside sinking fund suniclent II
amount TO retire the whole OF saio ISSUE a,. $,
bonds on or before January LIST, 1927, aud shall
from time to time. and al least once ever,
three months, IS said fund accumulates, seiec
by lot the numbers OF the bonds 10 DC retlIse
at par and accrued interest," and shall advertls'
for ten days in newspaper puoiisneo II
each of TIE cities of New York and rev
Orleans. the numbers OF ssid nonns , ana nc rn'
more than thirty days from the date OF sait
ADVERTISEMENT and ut the expiration OF sait
date said bonds shall &c use to bear inserss1
all the substantial provisions OF TINS Ac, snai
constitute q contract between the holders
bonds issued hereunder, the State OF Louisiao'
Section I. Be it further enacted, and re
solved, etc.. That at the congressional election
to be held IN this state, on the Hfst oesass..
Following the first Monday Of November, 1905
the following amendment to the Constitution
OF the State Of Louisiana, shall be submitted Z
the electors of the State to-wit:
The City Of New Orleans shall nave po~e
and it shall be its duty to issue two hundret
thousand dollars Of bonds, known IS aschoo
teachers salary bonds" for the purposes ant
under the provisions and conditions set forti
in the special act OF the Legislature adopted y
that end and for thai purpose, at the regula
session of 1906, which said act is hereby ratine'
and approved; and all provisions Of the presen
Constitution of the State in conflict with IN
provisions OF said act, and with this amend
ment are, to that extent, and for that purpos
only. repealed.
Section s. Be it further enacted, and re
solved, etc, That on the Official ballots TO D.
used at said election shall be placed the words
aFor the City OF New Orleans school teacher
salary bond amendment" and the words
against the City Of New Orleans schoo
teachers salary bond amendment and eacl
elector shall indicate his vote on the proposed
amendment as provided in the general election
laws OF this State, j. w. HYAMS,
Speaker OF the House of Representatives
j. Y. SANDERS,
Lieutenant Governor and Pres. OF the Senate
Approved June II, 1906.
NEWTON q BLANCHARD.