The southern sentinel. (Winnfield, La.) 1883-1910, 1906-09-21
ACT NO. 2.


Orleans, through the Board OF Liquidation
of the City Debt, to issue and sell bonds.
the payment of the debt due for salaries of
school teachers and portresses for the years
1885. 1885 and 1887; to provide for the pay
ment of the principal and interest of said /
bonds; and to submit to the people an
amendment of the Constitution authorizing |
the issuance of said bonds, ant. ratifying |
the provisions of this Act.
Whereas, the City of New Orleans has for !
many years. been indebted to her school .
teachers and portresses. meritorious body |
of her citizens. fSf personal services rem
dered under contract with the Board of
Directors of her public schools; and
Whereas, the people of this State, by the pro- |
visions of Article sI5. 3l6 and 81 of the
Constitution of 1898, required the City of
New Orleans to examine into and assume
the payment of these Qebts, and provided
therein for their payment in manner
then believed to be sufficient and efflca-
cious; and
Whereas, under said constitutional directions,
the city did examine and assume this debt,
but the provision made in the Constitution
for the payment thereof was sufficient ong
to liquidate the assumed Indebtedness for
the years 1882, 1888 and 1884, leaving unpaid
the assumed Indebtedness for the years
1885, 1886 and 1857; and
Whereas, the City OF New Orleans dill, by
Ordinance No. 2o44, New Council Series.
approved October LIST. 1903. assume the
indebtedness reported by its Finance Com
mittee as due by ne senqol soar re q cs sa,d
teachers and portresses for the years lsso,
1886 and 1887, and did issue certificates OF
indebtedness therefor, amounting In the
aggregate to one hundred and sesenty-four
thousand, six hundred and s'xty-two
tsl74ess.O0 dollars; and
Whereas due notice of this Act has been pub
lished in the City of New Orleans for more
than thirty days prior TO its Introduction
into the General Assembly, and due
evidence thereof has been exhibited in the
General Assembly:
Section /. Be il enacted by the General
Assembly of hesitate of Louisiana, two thirds
sof all the members elected to each house con-
curing; That subject to the ratidcation OF the
people of the State of Louisiana, by tne
adoption of an amendment to the Constitution
of the State hereinafter submitted TO them the
CITY of New Orleans shall have power 10 issue,
and it shall be its duty to issue bonds, a not 70
in amount, dated January list, lses, bearing
per cent. per annum interest payable semi-
annually. the principal of which shall De
PAYABLE at the option of the city. at any time
between January LIST, 1917, and January list,
1877 Said bonds shall be styled school teach.
They shall be of the denomination OF one
thousand dollars each, payable IN lawful
money Of the United States. wIth semi animal MAJ
interest coupons annexed payable July lst and
January LIST. They shall be signed by the
Mayor and Comptroller of the City OF New
Orleans aud countersignea py me ,he Raerd
OF Lilo lidation of the City Debt They may De
registered and released from registry under
the rules and regulations prescribed by SAID
Board Of Liquidation and no regist cred bond
shall be negotiable. Like other city ponus.
they shall be exempt from all taxatlou, state,
parish and municipal, and the tutors OF
miners and curators of interdicts shall be
authorized to invest the funds IN tneir hahus
in such bonds. rr :.
ms soon as constitutional authority for the
issuance of said bonds shall have been obtained,
il shall be the duty 81 tae tb eaf Expense Of the
one-half OF the one per cent debt taA, desosel !
to school purposes, and appropriated oy saia
Board TO cause said bonds TO be engraved ane
executed and to sell the same at not less tnan
par ard accrued interest. by-sealed proposals
to the highest bidder, after thirty Gays aars s,
tisementin two papers published IN she oity
section s. Be it further enacted, etc, That
the Board OF Liquidation shall, Win IN .ne sra
Gates issued by the City of New Orleans Tor the
salaries Of school teachers and portresses OF
s sss pT under the provisions of Ordinance No
2o4s New Council Series, approved October Isl,
lsos with four per cent per ann trnro On said aid
6ctober LIST, 1903, provided that for the pur-
poses OF this Act no interest on said certinsaIss
shall be allowed after January ISL ~. h ns,sans
named in such certificates, or 10 tneis neIs y.
lecatees. or to their duly authorized counseI
upon surrender OF the original certincaees VI
section 4. Be it further enacted, etc, That
the principal and interest OF SAID oonus snai y,
he neid nv preference out OF that one-nan o,
ne enrnins of the one per cent. debt tax levied
by the City of New Orleans py ,ylr.ae "
Article s Of the Constitution o. ,,,rrnsas
and in makinr in each year superintendent OF
the surplus OF said tax, the Board OF Liquida-
ton shall from the S Spe-hs rleans Withhold by
preference. sum sufficient to pay the semi.
annual interest on said bonds, ana the SINKING
iu Section Re * further enacted. etc, That
after January LIST, 1917. the said board .,
Liquidation shall, out OF the saio on schon
snrnlus OF said tax apportioned 70 scnoo
nnrposes. set aside sinking fund sumcieht ~
amount TO retire the whole OF sald lssae % %
bonds on before January ist is<a, aue srars
Y three months IS said fund accamulaies, seiec,
nv lot the numbers of the bonds TO De reIlreo
at par and accrued interest ana sra ,hIshed n
each of tie cities OF New YORK anu ~ az y !
orleans. the numbers OF said bonds ana -,
date tney will be paid (Which date snali DC NO 3
sa~s sbsn thirty DAYS from the date OF SAID
ADVERTISEMENTS, and at the expirallon OF saio
date said bonds shall cesse to bear r, :,
section g. Be ii further enacted, ETC, lna
49, snhsfantial provisions OF this Act shall
constitute Q contract between the noiaeis .
bonds issued heseundel. the s'a'e u Neu's'a. -
sna .ns ~ Re Il further enacted, and re-
solved etc. That at the congressman ciec.i s
to be held in this s Mana On Of November 1905
the following amendment to the oonsua .d :,
~ the State OF Louisiana, shall DC suLmi.'eu =
the electors OF the State. to-w1t.
the civ OF New Orleans shall have powel
and & shah be its duty to issue TWO nu Saas
thousand dollars OF bonds, knosn as 49, -
teachers salary bonds" for the purposes AM
nnder he provisions and conditions set forti
ii the special act OF the Legislature aaopasa :,
Thai end and for that purpose, at the regaia
lesion of 1906, which said act is hereby ratinet
and approved and all provisions o. the p,es q,
Gnnxtsfution Of the State in connlct Win N
nraTisions Of said act. and with this amend
rment are, TO that extent, and for tnat purpos
section 8. Be it further enacted; and Ie
solved. etc. That on the official ballots % o
rsed ~ said election shall be placed the woIos
sFor the CITY Of New Orleans school teacher
sslsry bond amendment;" and the Volts as'
aAcsinst the City of New Orleans scnoo
teeehers salary bond amendment; ana eaci
escctor shall Indicate his vote on the propose
er,eniment IS provided in the general election
% - 9S;s STALE J. w. HYAMS,
speaker Of the House Of RepIesensafises
4 j. Y. SANDERS,
Jieu4enant Governor and Pres. Of the Senats
ApPlOsea NEWTON C. BLANCHARD,
Governor OF the State OF Louisiana
j IrIf S0 4. MICHEL
Eps~rpfxrT OF state.