St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-08-29
ACT NO. 116.
ACT NO. 116.
so,..o P,, No, 11e. i. By Mr. voegtle.
AN ACT

n4a nil No 116 BY Mr.. Voegtle.
AN ACT
To amend the provisions of Act No. 10 OF 18o6
90 az to authorize the allowance TO the pur
chasers of the New Public Improvement
ponds Of the City of New Orleans of com
mission or deduction not to exceed six per
cent; so as to define the oroef OF fahh VI
nayment of said bonds out or the taxes aeai-
Gated TO that purpose; and to proh1plt the
fnrtber issue of bonds interfering or COM
netting in order or rank with said bonds and
the Public Improvement Bonds issued uno oe
Act No. of the Extra session Oh 1872,
nnd 70 proyide for the submission to the
nnonIe of the State of Louisiana or Con
stitutional Amendment ratifying the modl-
Scations and changes herein provided TO pc
made in said Act No. 10 of 1906 ana the
Hnns+itutional Amendment ratifying said Act.
vybereas due notice of this Act has been
published in the City OF New orleans 10 nor
more than thirty days prior to IT'S lntFooug-
+ion into the General Assembly, ana que eFl-
dance thereof has been exhibited in the CEN
eral Assembly, ana A., 4o
vybarass owing to the increase In the rates
of interest since the adoptlo On VI 900 M 20
10 Of the Acts of 1906, the $S,oOo,Ooo.Oo OF
bonds of the City of New Orleans authorlzeo
to be issued by that Act cannot be solo as pro-
vided in said Act, ana ,o
Whereas some misunderstanding mas arisen
as to the order of payment OF the prlnelpai
and interest of said bonds out of the sur
Mus of the one per cent DEBT tax anu the
two mill special tax.
l..
Assembly of the State of Louisiana, That the
BOARD of Liquidation of the City DEBT whlcn
"a charged by Section of Act No ~ OF the
Acts of 1906 with the duty of selling $o.ooo'-
600 m NJ New Public Improvement Bonds OF
the CITY of New Orleans, shall have power III
| selling the first four millions OF saia ponus
| 10 allow to the purchasers Thereon cohlhts'
| sion or deduction not to exceed SIX PEI cent
| +bo amount of said commission or deduction 70
| he n mart of the bid of the purchasers for salo
| bonds and the bonds to be adJudlcatea 10 lhe
best bidder in price, not however oelo" pa, pa
and accrued interest coupled with the leas'
commission; and provided that the second Ioui
| millions of said bonds cannot be SOLD as apove
| provided with allowance OF the SAID columns
| sTon or deduction except with the consent VI
| the City Council expressed by an oralha dr,
adopted by a vote of two-thirds OF lts mem
| bers and also with the consent OF the BoarG
Of Liquidation of the city deot' eApreSseN
| nv A resolution of said Board.
Section q Be it further enacted, etc. ina
| in order to make clear and indispntaole Ins
| order or rank of payment out OF the suEplu'
| of the one per cent debt tax ana out OF
| tbo two mill special tax, of the principal ant
| interest of the $4,000, 10000 of New PubIl'
| Improvement Bonds of the City OF new VI
| leans, authorized to be issued unaef saiu - a.
| No 10 of the Acts of 1906, 1t Is hefeo!
| declared that the surplus of the one per cent
| debt tax and the two mill special TAX up
| July 1st 1912 are first dedicated to the pay
| ment Of the So, 900. 10000 of Public Improve
| ment Bonds of the City of New orleans issue,
| and sold under the provisions or ACT NO.
| that remains of the surplus of said one pc
| Of the Extra Session of 1S99 and that al
| cent. debt tax and of said two mill speeia
| tax since January list. 1907, after pfoyluln'
| for the payment of all sums on SAID Fupii
| Improvement Bonds now required by law 10 D.
so paid shall be dedicated to the paymeh..
| the principal and interest of the SAID New
| Public Improvement Bonds, provided nothing
| herein contained shall in any manner aHec
| the dedication of the entire per cent. DEP
| tax after July 1st 1912 First, to said run
| lie Improvement Bonds issued under Act
1899 and Second, to said New Public improve
ment Bonds issued under Act 10 of 1906 a
now provided by existing laws anu Sohsti'u
tfonal Amendment
Section g. Be 1t further enacted, etc, ina
no bonds shall hereafter be issued by the CIT
of New Orleans, payable out OF SAID taxes
which shall interfere with this order or ran
| of payment or which shall compete with tines
two series Of bonds for payment out OF sal
funds provided that nothing herein SHAH b
construed affecting the use or aistrlpus e
of any surplus of said taxes remaining afte
providing for the payment Of the principal an
interest of said New Public Improvement Bono
as proyided In Section Of said Act No. !
4 of the Acts of 1906
| Saction 4 Be it further enacted ETC., Tia
| At the congressional election to be held |
this state on Tuesday. the third day Of Noyen
her, 1908, the following amendment to u
PROSTITUTION of the state of Louisiana shall
| submitted to the electors of the State. to-wl1
ssThe modification and changes sought !
| he affected in the provisions of Act No. ]
If the Acts of 1906 which Act was rattle
;! by Constitutional Amendment. adopted Noven
| her & 1g06.+hyS the provisions of Act NO. II
~ the Acts IL 1885, are hereby ratified an
anproved. and all proyfsiohs Of the present Coz
stftution Of the State fin conflict with the pr