The St. Mary banner., 1906-11-03

! October 1st, 1903, with four per cen
. per annum on the principal of said certi
ficates from said October 1st, 1908, pro
| vided that for the purposes of this Act
no interest on said certificates shall be
J showed after January 1st 1907. Such
payment must be made only to the per
sons named in such certificates. or TO
their heirs or legatees, or to their duly
authorized counsel; upon surrender of
tie original certit:cat,s Of Indebtedness.
Section 4. Be it further enacted, etc,
That the principal and interest Of said
bonds shall he paid by preference cut
Of that one-half O. the surplus of the
one per cent debt tax levied by the City
OF New Orleans by virtue Of Article 3l4
OF the Constitution Of Louisiana, which
is dedicated for public school purposes;
and in making in each year apportion-
ment Of the surplus Of said tax, the
Board Of Liquidation shall from the one
half apportioned to the public schools of
New Orleans, withhold: by preference, a
sum sufficient to pay the semi
interest on said bonds, and the sinking
fund hereinafter provided for.
Section S. Be it further enacted, etc,
That after January 1st, 1917, the said
Board Of Liquidation shall, out of the
said one-half surplus Of said tax appor-
toned to school purposes set aside sink
sniff fo ro{,r
the whole Of said ISSUE of bonds, on or
before January 1st, 1927, and shall, from
time to time, and at least once every
three months, as said fund accumulates,
select by lot the numbers Of the bonds
to be retired at par and accrued interest,
and shall advertise for ten days in .
newspaper published in each of the cities
of New York and New Orleans, the num-
bers of said bonds and the date they will
be paid (Which date shall be not more
than thirty days from the date Of said
advertisement,) and at the expiration
of said date said bonds shall cease to
bear interest.
Section 6. Be it further enacted, etc.
That all the substantial provisions Of
this Act shall constitute a contract be-
tween the holders of bonds issued here.
under, the State of Louisiana and the
City Of New Orleans.
Section Z. Be it further enacted, etc,
That at the congressional election to be |
held 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,
shall be submitted to the electors of the
State. to-nit:
"The C;f,y of New Orleans shall hive
row"r and it shall be its duty to issue
wo hundred thousand dollars Of bonds
known as 'HSchool teachers salary
'onds.' for the purposes and under the
provisions and conditions set forth in
he special act Of the Legislature adopted
0 that end and for that purpose, at the
egular session of 1906, which said act IS
lereby ratified and approved; and all
provisions of the present Constitution of
ne State in conflict with the provisions
said act, and with his amendment are,
o that extent, and for that purpose onI.,
epealed.
Section 8. Be it further enacted, and {
esolved, etc., That on the official ballots
be used at said election shall be placed !.
he words: "For the City of New Or s
ans school teachers salary bond amend
lent;" and the words: "Against the
ity Of New Orleans school teachers I
Vary bond amendment and each cleo
'r shall indicate his vote on the pro-
osed amendment as provided il the
eneral election laws of this State.
J. W. HYAMS,
peaker Of the House of Representa-.
tiyes.
J. Y. SANDERS.
lieutenant Governor and President of e
the Senate. 4
pproyed June II, 1906. G.
NEWTON C. BLANCHARD, t,
overnor of the State of Louisiana. b.
\ true copy:
JOHN 7. MICHEL, ic.
,cretary of State. o.
ACT NO. 8. v,
7 Mr.. Pcarce. House Bill No. 43. >,
JOINT RESOLUTION. :,
opposing an amendment to Article $50 :.
of the Constitution of the State of i;
Louisiana, relative to the removal of -,
the limitation on appropriations for ..
the Louisiana Industrial Institute. To- =;
Gated at Ruston, La, for maintenance
and support. s;
Section /. Be It resolved nv the Con.