The Natchitoches enterprise., 1908-09-24

ance to rhe purchasers of the New
Public Improvement Bonds of the
CITY of New Orleans of a commits
sion or deduction not to exceed six
per cent; so as to define the order of
rank of payment of said bonds out
of the taxes dedicated to that purpose;
and to prohibit the further issue of
bends interfering or competing in or
der or rank with said bonds aud the
Public Improvement Bonds issued un-
der Act No. of tre Extra Session of
1899; and to provide for the submis-
sion to the people of the state of Lou
isiana of a Constitutional Amendment,
ralifyiug the notifications and charg-
es herein provided to be made in said
Act No 10 Of 1906 and the COnstitn-
tiOnal Amendment ratifvIng said Act.
Whereas, due notice of this Act has been
published IN the city of New Orleans
for more than thirty days prior to its
introduction into the General Assem-
bv, and due evidence thereof has been
exhibited in the General Assembly,
md
Whereas, owing to the increase in the
rates of interest since the adoption of
Act Nc 10 of the Acts of 1905, the S.
600. 900 on Of bonds of the City of New
Orleans authorized to be Issued by
that Act cannot be sold as provided in
said Act, and
Whereas, some miSun lerstanding has
arsen a 20 the order of payment of
the principle ard interest of said bonds
out Of the surplus of the one per cent
debt tax and the two mill special tax.
Section I, he ~ enacted by the Cen
Of Gtafn nF I nnigiana
That the Board of Liquidation OF the
CITY Dpbt which Ia charged by Section
of Act No. 10 of the ActS 0 1906, with
the duty OF spllIrg the $4,000, 10000 of
New Public Improvement Bonds of the
CITY of New Orleans. shall have DOwer
IN selling the first four millions Of said
bonds 10 allow to the purchasers therof
a commission or deduction not to exceed
six per cent, the amount Of SAID commits
sion OF deduction to be part OF the pur-
chasers for said bonds, anu the bonds to
be adjudicated TO the best bidder in price,
not however below par and accrued in
terest. couple with the least commission;
and provided thai the second four mill
lions of said bonds cannot be sold as
above provided with allowance Of the
said commission or deduction except
with the consent Of the City Council ex
pressed by an ordinance adopted by a
vote of two-thirds of Us members, and
also with the consent of the Board of
Liquidation of The city debt, expressed,
by resolution of said Board.
Section 2. Be II further enacted, etc.
Th { IN order to make clear and indis-
putable the order or rank of payment
out Of the surUa rs OF the one per cent.
d.bt tax and ou Of the two mill special
Tux. ef the principal and iatere,t of the
SIS 900. 0OU % of New Public Improve
ment BpnGs of the Cay of New Orleans.
authorized To be ISSUED under said Act
No. 10 II 'he ArIs pt la06. it is hereby
declared ghat the surplus Of the one per
cent. dehi lax and tAe two mil, special
TAX ID to July Isl, 1912, are first dedi-
Gated to The payment of the Sl2 0OO, ,OOO.-
90 Of Pubi. improvements Bonds of the
Civ Of New Orleans Issued and sold un-
der the provisions Of Aot No. 6 oi the
Extra SESSION Of 1899 and that all that
remain- of the surplus of said one per
cent. deb, tax and of said two mill Spe-
cial tax since January lst, 1867, after
prnVl5ing Tor the paymegt of all sums
on said Public Improvement Bonds now
required by law to be so paId. shali be
dedIca ed to tine payment of the principal
and interest of ths entire one Ter c"nt
dehr lax afGr July lst, 1912. First. to
said Public improvement Bonds issued
un5er Act 8 OF 1899, ana Second, TO said
New Public Improvement Bonds Issued
under Act 10 of 1906, as now pr"yiied
By exisinI ldNs and Constitutional AM
enInent
Section 3. BE it furth,r enact d. ETC.,
That no bonds shall hereafter be issued
by the City OF New Orleans pavab'c out
of said taxes, which shall rnterfe with
this order OF rank If paymens, or which
shat compete with these two series of
bones for payment uat OF said funts,
provided that nothing herein shalt be
construed as affecting he usa or distrl-
button of any surplus of said taxes re-
naming after providing for the payment
of the principal and interest of said New
| Public Improvement Bonds, as provided
| in Section 9 of said Act No 10 of the
/ Acts # 1906.
/ Sc, tiOa / Be il further enact /. etc,
| That at the cougres ,iona election to be
| held in this State on Tuesday the third
/ day Of November. 1905, tue following
/ amend nrnt TO the Cnnsulutioa Of the
/ SAFE Of LOuislan1 shall be submitted to
| tn" electtrS ut he stare, tl-Wit:
/ "Ihe modification and changes ugnt
( to be affected ia the prOvlsiogs of Ac'
/ No l9 of the Act, of 1896. which Act was
ratified by Constitutional Amendment.
adopted November 6, 1906, by the pro
! visions of Act No. lI6 of the Act of
| 1905 are hereby ratified and approved,
all provisions oftue present Constitution
I OF the State in conflict with the provis
ions of said A"r Of l90s. and with thi.
! amendment. are 10 that eat Mt Iad for
that purpose only repealed"
Section .. B. it furthrr enacted. nnd
! resolved, etc. T ! on the Official ballots
to be u-rd a. sltdlelevtiOn snail he piac-
ed tn words:
Per the 4 sJiiional qm md eut ri the
4 i1iy If \ Or3e8rS PubIr -..,r W. =
uenl Bond amsuamvut, AMI u. wvlds;