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

the people Of the State Of ss.oa 1sn; to
of "a constitutional arendren. a4S'an'
thoszlns the issue of said booG,, ,, az, aa,
confirming the provisions Of s tf,;a and
whereas due notice Of this Act hos hos a's
published in the City Of New ,as a., oeea
Tor more than thirty days nr;O. o,'eaas
'ntroduetion into the General .a 70 1T
bly,, and due evidence thereof b.a .'ssea'
eAhiolted IN the General AsSsmp pses
and assembly;
Whereas, the bonds authorized :.
sued by the City Of New Or,so. y
DER the provisions Of Act No. ur'
extra session Of 1899, ratified y - s's
constitutional amendment aaoa.!
the general election of 1000 hp r'eu At
proved adequate to he comnls,;' not
the sewerage, water and draipars -, W
tens Of the City of New Orlosss s!s
the General Assembly is adv;sa1 . ana
1t will probably require eirbt maj mat
hon dollars additional to eomrla.. ."., Al',
systems; and " ald
Whereas, by the increase of asvo,,
in the City Of New Orleans .''AN
and prospective, the one Eg,f as .'en' m
surplus OF the one per ccut dob. .1e
ieEled by virtue Of Article 31i os sA a.
constitution Of the State of Ion;,;l 'ls
OF lS'S' ani the special tax Of -a VIVA
mills, voted by he taxpayers of ,ao ~.
'lty OF New Orleans n the f.b 3- ,"'
OF June 1899, are and viii 10 va, Has
than sufficient TO pay the into~,.. IVY
the twere million dollars Of ~. y
issued u..'ser said Act Wv
. of the extra session of ,:,o :,o'
and actually produce u large sn-n,n,
dedicated hy said act to the rn-,,d.- ~
thereof, which is ana will be srs; s@s' s's'
to permit the capitalization ,ba-a-.
hE the issuance Of eight million doI
lars Of bonds. and the retiromen, .ba..
Of prior to January /. 1882: and
Whereas. it is of the greatest ;,o,o.
fance to the City Of New Orleans ~,
the people Of the whole State ,ba,
thee great public works shal, l..
speedily completed. md tlat their oon,
pletion should not he deferred tbrora,
long series of years by the rra1n,I
application to that end Of tho s.;.
surplus, as it acerues wear by wear.
Section l. Be it enacted by ina Ga,
oral Assembly of the State Of yo,.
lana, two-thir'ls Of all the members oec.
au to each House concurring. That uh.
lect to the ratification Of the neon,a .,
he State of Louisiana, by the adop.,on
II an amendment 70 the Coastitu,;a, -
he State. hereinafter submitted 70 Than,
he City of New Orleans shah have nova,
o issue, and it shall be its duty to ;sye
)onds aggregating eight million dollars
lated j. nuary ]. 1907, hcarine foar ~,
enf per annum interest, payable semi
annually, the principal of which shah
&c payable, at the option of the city y,
ny time between January /, 1898. ars
anuary l, 1912. Said bonds shall !.
tyled 'New public Improvement bond,
+ the City of New Orleans" Thev shar
c OF the denomination of one thousand
o!!ars each, payable in lawful none,
+ the United States with sem;annua
interest coupons annexed. payable Jul,
and January !. They shall be signst
y the Mayor and Comptroller of tie
lty OF New Orleans and counters;iuef
= tae President or Vice President and
ncretary of tho Board Of Liquilation Of
'e City Debt. They may he registered
nd released from registry under III,
lies and regulations prescribed by said
oard of Liquidation, and no register
bond shall be negotiable. Like o.hr
ty bonds, they shall be exempt frcm al
xa'ion. State, parish and municipal
I'd the tutors Of minors and ccrators
intar'.icts shall be authorized to in
st the funds in .leir bands in such
nds.
Section =. BE if further enacted, etc. /.
at As soon rs constitutional authori
for the i>auance Of said bonds shall
We been obtained. it shall lie tie ,I.ty
the B@"r'! Of Liquidation Of the City
eht, at The expense of the srecial Ta1
nj in their possession, - cause saie
nds to he engraved and executed and
hold sane subject 70 .ha reGuisition
the Sewerage and Water Beard OF
eW Orleans. From line TO time as
rected by said Sewerage and Wa.e,
ard. said Board Of liquidation shall
i said bonds in sue; amounts az it
" he requested 50 to do. by sealed pro,
sails to the highest bidder, for not less
an par and accrued interest afte,
riv days advertisement of such salet
one newspaper published in each Of
: cities Of New York, Chicago AMI New
leans.
Section 3. Be it further enacted. c'r.
at the proceeds of all such sales be
d by the Board of Liquidation an1
id over on the warran: of the Sew
ge and Water Beard in the manne,
/ under the conditions provided IS