St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-10-03
ACT NO. ll6.



AN ACT
- s tno rrovisions Of Act No. 10 Of 1906
~ - 70 authorize the allowance to the purE
vrs NJ the New Public Improvement
Ponds of the City Of New Orleans OF com
mission or deduction not to exceed SIX per
ant. an "a to define the order or rank OF
Sarnont Of said bonds out of the taxes dedt-
csfa3 to that purpose; and to prohibit the
sStbo- issue of bonds interfering or COM
peting in order or rank WIN salu po,us , an
the public Improvement Bonds issued uno oe
a. No q of the Extra Session Of 1893;
and TO provide for the submission 10 tne
naonle of the state of Louisiana OF Con-
atitutional Amendment, ratlrylng the ihooA-
Soat,ons and changes herein provided to be
rnoSa in said Act No. 10 of 1905 and the
Cnnstitutional Amendment ratifying said Act.
whereas due notice Of this ACT mas peen
nrhIished in the City of New Orleans Tor
more than thirty days prior to It's introduc-
ton into the General Assembly, and due eV1-
Sence thereof has been exhibited In the Gen.
eral Assembly, and 49,.
~ interest since the adoption of Act NO.
10 of the Acts Of 1906, the $4,000 10000 OF
bonds Of the City Of New Orleans anthofizeo
to be issued by that Act cannot be sofa as pro-
yided in said Act, ana
whereas some Misunderstanding mas arisen
as to the order OF payment OF tne ptlhclpdi
and interest Of said bonds out OF the sur
MUS of the one per cent dept TAX anu tne
two mill special tax.
section /. Be 1t enacted by the General
Assembly of the State of Louisiana, Ihat the
read of Humiliation of the City Debt, which
a. nbargpd nv Section of Act No. 10 of the
Acts of 1906 with the duty of selling $S,oOO, :
COO 90 of New Public improvement BONDS OF
fhe city Of New Orleans, shall have power In
sailing the first four millions or SAID Donds
20 allow to the purchasers thereof commits
sIon or deduction not to exceed SIX per cent.
Che amount of said commission or deduction to
no mart of the bid OF the purchasers for said
bonds and the bonds to be adjudicated to the
hast bidder in price, not however below par
and accrued interest, coupled Win tne least
commission; and provided that the second Tour
millions of said bonds cannot be sold as above
provided with allowance of the said commits
sion or deduction except with the consent or
the CITY Council expressed by an ordinance
adopted by vote OF twe-tnros Oh us mem,
hers and also with the consent of the Board
az Iiouidation of the city debt, expressed
By a resolution Of said Board.
Section q Be 1t further enacted ETC., That
in order TO make clear and indsputable the
order or rank of payment out Of the surplus
OF the one per cent. debt tax and out OF
the two mill special tax Of the principal ana
interest of the $4,000, 10000 OF New Pubnc
Improvement Bonds of the City OF New Of
leans authorized to be issued under said Act
No. 10 of the Acts of 1906, 1t is hereby
declared that the surplus of the one per cenf.
| debt tax and the two mill special TAX up to
July list, 1912, are first dedicated to the pay
ment of the SIP 900 10000 of Public Improve
ment Bonds of the City of New Orleans issued
| and sold under the provisions OF Act NO. .
that -
| of the Extra Session of 1893, and that all
| cent debt tax and of said two mill special
| tax since January LIST. 1907. after providing
| for the payment of all sums on said Public
| Improvement Bonds now required by law TO De
| 40 paid, shall be dedicated to the payment OF
| the principal and interest of the said New
public improvement Bonds provided nothing
! herein contained shall in any manner afect
| the dedication of the entire one per cent. debt
| tax after July LIST, 1912. First, to said Pub
| lie Improvement Bonds issued under Act OF
| 1890. and Second to said New Public Improve
| snees Bonds issued under Act 10 of 1906, as
| now provided by existing laws and Constitu
| tional Amendment
Section g. Be it further enacted, etc., Thai
| M bonds shall hereafter be issued by the City
~ New Orleans payable out of said taxes
| which shall interfere with thiN order or rani
| OF payment or which shall compete with these
| two series of bonds for payment out OF salt
| funds. provided that nothing herein shall b.
construed as affecting the use or distributor
| of any surplus OF said taxes remaining attei
1 providing for the payment of the principal ane
| interest of said New Public Improvement Bona
! "a provided In Section of said Act NO. II
of the Acts of 1906
/ Section T. Be it further enacted ETC.. Tha
| at the congressional election 10 be held
/ this State on Tuesday. the third day OF NoFem
| Der, 1905 the following amendment 10 th'
| Constitution of the State of Louisiana Shall o.
1 submitted to the electors OF the STATE to-"u
/ 1.-THE modification and changes sought .
| he affeeted in the provisions of Act No. i
1 OF the Acts of 1906 which Act was ratlne'
| by Constitutional Amendment. adopted NoVen
/ her g. 1906 by the provisions OF Act NO. IL
/ of the Acts OF 1905 are hereby ratihed an
| approved and all provisions of the present Con
l Wtitution Of the State in cunnict with Ene Pro