The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-10-27

'1lrs 'he lS7Ie Ct said bonds Az,
c'nflFHing the provisions Of tt,;s ssd
Whereas, due notice Of this Act b,. t a't
published in the City Of New o,,S 'sea
Tor more than thirty days prior >,
1ntrodnetion into the General .ss Is
bly,, and due evidence thereof b.. 's S
exhibited in Tie General Assa,, ,sfa
and uol!;
Whereas, the bonds authorized N !,
sued by the City of New OrIa.na
der the provisions Of Act No g.. un'
extra session of 1899, ratified - "'
constitutional amendment. adon+ai =
the general election Of 1900. have AZ
proved adequate 10 he comn,eti,. ~.
the sewerage, water and drainac. ~"
TENS of the City of New Orleans y,
the General Assembly is advised an. aal
it will probably require eight "a, ma
hon dollars additional to connlos, I'M.
systems; and 'aia
Whereas, by the increase Of osse0s
III the City of New Orleans n.1 ~
and prospective, the one half - :,
surplus of the one per cent deb. Wv .,'
levied by virtue of Article ga of -
Constitution of TIE State Of Loms;,aS
Of S9>, and tie special tax Of .'-
mills, voted ~ the taxl.ayers - i.
city Of New Orleans on the 9Th .Ia
Of june 1899, are ana viii no ,. ''
tAan Sufficient to pay the iDtar.s. ,,'
The twelve million collars Of ba.5
issued under saia Act ~
8 Of the extra session of 100
and actually produce q large s,r,.I,,
dedicated by slid act 10 the nn,,,a,as
thereof, which is ana will he sutic;e,,
TO permit the capitalization tboraa,
by the issuance Of eight million IA.
las ii bonds. and the retirement .ss,,
Of prior 10 January J, 1912; and
Whereas, it is of the greatest hmm,
tance 10 Ii" City Of New Orleans ~,
The people Of tie whole State ~,
these great pnhI" works Shall \.
81 ee''iiv completed, ana that their com
pletion should not no deferred tb,o,.,,
long series OF wears by the grala,,
application to that end Of the s,;,
surplus, as it accrues wear by wear.
Section j. Be i: enacted hv the Con.
eral Assembly of the State Of Jo,i.
lana, two-thirds of all the members a'a,.
cd to each House concurrinc. That sih
rect 70 the ratification q the peon'a ..
the State Of Louisiana by the adoot,o,
Il an amendment 20 The Constitution =,
the State. hereinafter submitted t. them
the City of New Orleans shall have naxs, +
% issue, and it shall be It's duty to ;ssu.
oon1s aggregating eight million dolla.,
lated J. uuary l, 1907, hearing four %,
'ent per annum interest, payable semi
annually, the principal Of which shall
." payable. at Tie option Of tie ci.-. A,
my time between January |, 1928. auc
January !, 1912. Said bonds shall b
:tyled "New public iniproyement bomb
II the City of New Orleans. " Thev shall
,n of the denomination of one thousand
collars each. payable in lawful none,
# the United States with semi-anpua
interest coupons annexed, payable Jul,
and January l. They shall be signed
" the Mayor and Comptroller OF lie
lily of New Orleans and countersGnsa
" the President or Vice President and
Of the Board of Liquidation Of
ne City Debt. They may be registered
nd released from registry under II.
ules and regulations prescribed by said
Board Of Liquidation, and no register
d bond shall be negotiable. Like othr
ity bonds, they shall be exempt from all
axation, State, parish and municipal
nd the tutors Of minors and cura:on
t interdicts shall be authorized 10 in.
est the funds in their hands in such
onds.
Section . BE il further enacted. etc.
hat as soon as constitutions! author.
v for the issuance of said bonds shall
ave been obtained. it shall be the Out!
f the Board of Liquidation of the Git!
,ebt, at the expense of the special /"
una lii tutlT ito,HtSSIpN. 10 cdust odie 4'
onds to he engraved and executed and y
> hold same subject to the re9uisitios
t tie Sewerage and Water Board Of
Jew Orleans. From time to tine. a.
;rccted by said Sewerage and Water !.
'aard. said Board Of Liquidation shall 4
ell said bonds in such amounts a. II
lay be requested 50 to do, by sealed pro-
osals to the highest bidder, for not cs
!an par and accrued interest, atie
mrty days advertisement of sneh sale'
l one newspaper published in each OF
he cities of New York. Chicago and NeH
'rleans.
Section 3. Be j. further enacted. ETC.
hat the proceeds of all such sales D
ED by the Board of Liquidation am
aid over on the warrant Of the sew
age and Water Board in the manner
nd under the conditions PROVIDED
I'D Act No. 6 of the extra SESSION
500, and the amendments thereof.
Section i. Be it further enacted, en.
hat the proceeds of said bonds sn@