The Lafayette advertiser. [volume] (Vermilionville [i.e. Lafayette], La.) 1865-19??, 1906-10-03

Der LIST, 1903, with 4 per cent per an
mum on the principal of said certifi-
Gates from said October 1st, 1908, pro-
vided, that for the purposes of this Act
no interest on said certificates shall be
allowed after January 1st, 1907. Such
payment must be made only to the
persons named in such certificates. or
to their heirs or legatees, or to their
I duly authorized counsel: upon surren-
der of the original certificates of in
~debtedness.
Section 4. Be it further enacted,
etc., That the principal and interest
OF said bonds shall be paid by prefer
ence out of that one-half of the surplus
OF the one per cent debt tax levied bv
the City of New Orleans by virtue of
Article 3l4 of the Constitution of
Louisiana. which is dedicated for pub
lie school purposes: and in making in
each year appOrtiOnment of the sur
plus OF said tax, the Board of Lioui-
dation shall from the one-half appor-
toned to the public schools of New
Orleans, withhold, by preference. a
sum sufficient to pay the semi-annual
interest on said bonds, and the sink
ing fund hereinafter provided for.
Section D.. Be it further enacted,
etc. That after January 1st, 1917, the
said Board of Liquidation shall.
out OF The a One-half surplus of
SAID TAX apportioned to school pur-
poses. set aside a sinking fund sufa-
clent IN to retire the whole of
SAID issue OF bonds, on Or before jan
uary LIST. 1927, and shall from time to
time, and at least once every three
months, as said funds accumuIates. se-
lect by lot the numbers of the bonds
to be retired at par and accrued INFER.
est, and shall advertise for ten davs
IN a newspaper published in each Of
cities OF New York and New Orleans.
the numbers of said bonds and the
date they will be paid (which date
shall be not more than thirty DAYS
the date of said ADVERTISEMENT
and at the expiration of said date said
bonds shall cease to bear interest.
Section d. Be it further enacted.
etc., That all the substantial nrovi.
slOns OF this Act shall constitute a
contract between the holders of bonds
issued hereunder, the State of Loui-
slana and the City of New Orleans.
Section 7. Be it further enacted.
and resolved, ETC., That at the con-
gresslonal election to be held in this
State. on h first Tuesday following
the first Monday of November. 19O6
the following amendment to the Con,
stltutlOn OF the State of Louisiana
shall be submitted to the electors Of
the State, to witt
1.-The City of New Orleans shall ba va.
power and it shall be it's duty to issne
two hundred thousand dollars of
bonds, known as ''school teachers
salary bonds" for the and
under the provisions and conditions
set forth in the special act of the
Legislature adopted to that end and
FOR That purpose, at the regular SEES
sion OF 1905, which said act is hereby
ratlhed and %apprOved: and all proyi-
sions OF the present Constitution of
the State in conflict with the provi-
OF said act, and with this amend
ment are, to that extent, and for that.
purpose only, repealed.
Section 3. Be it further enacted.
and resolved. ETC., That on the official
oaliots to be used at said election
be placed the words: For the
OF New Orleans school teachers
salary bond amendment:'' and the
against the City of New Or
leans school teachers salary bond
amendment" and each elector shall
his vote on the proposed
amendment as provided in the general
election laws of this State.
j. w. HYAMS,
Of the House of Repre-
sentatives.
j. Y. SANDERS.
Lieutenant Governor and President
of the Senate.
Approved June IL, 1906.
NEWTON c. BLANCHARD.
Governor of the State of Louisiana
\ true copy:
JOHN. T. MICHEL,
Secretary of State.