The Caldwell watchman. (Columbia, La.) 1885-1946, 1912-10-25

a. price not to exceed One Hundr.,
ana ihree and accrued fnterest :,
nonds cannot be purchased as arors
sdid, tne sinking fund shall be invest
60 by me Board of Liquidation of tn,
state Debt in sound. interest 'bear. .r,'
securities. producing not less tbam tn ,,,t
per centum per annum interest m ~.
amount SO invested or derosited @i i,
'hc!vcnt banks furnishing adequate 80
Guilty. 10 the State. to be approved h,
tne SAID Board. at a rate Of interes,
no. less thaH -FOUR per centum per an
all of said bonds Shall have ' heen "" ~.
tired but after the assessments Of IN,
state reach the sum Of 81, u,I,droG
ana firty Million Dollars. said tax sho 4
De reduced to one mill and shall thtre.
AFTER be reduced two-tenths or ono nil
ior each one Hundred Million Dollars
increase in assessments until tho saic,
tax shall be reduced to siy-tentbs o.
one mill. The said tax shall constit,,t.
a part or the six mills Of TAXATION nor
mltted TO be levied by the CONSTITUTION
In case the present system of taxa.
tioh snail be changed before the said
he bo ia,, siia!i nave been paid there shali
produce a gross sum of not less than
Six Hundred and Fifty Thousand DoI'
lars to take the place Of said fay n,
one and two-tenths mills and it's re.
auctions "''' i'S ie"
The Board Of Liquidation of the
STATE Deot snail have power to settle
under the conditions and Limitations
hereinafter provided. the fo]lowin"
claims Of Indebtedness made by vari,
Gus persons against the State. town..
% The outstanding bonds known 40
BABY Bonds excluding all Baby Ron1s
the State" Vi
(2) Auditors warrants issued fo,
school. certificates of indebtedness IN.
der Act 1875 Of 1880. "''
'3l Certificates issued under Act %
or 1890 Tor costs and fees due to the
officers of the State.
~ warrants drawn pricr to 1880
Bonds. ''
90 Warrants drawn after January
OF 1880 against 1878 and previous years
Provided. however, that the owners
- or the duly authorized trustees of the
& owners of said claims may prior TO
January lst: 1915, but not thereafter
proceed against the Board of Lionido.
ton Of the State Debt by rule, solely
and exclusively in the district court Of
the Parish of East Baton Rouge. TO
nave the said claims examined ard
their validity and the Indebtedness due
thereon determined which court ia
hereby hereby given Jurisdiction for tlSt pur-
This jurisdiction shall extend not
: only. to the determination OF the mere
legal liability of the State on anv of
said claims. but also to the determine
ton OF any equitable liability OF the
state thereon and the extent Of such
equitable liability. Appeal shall lie in
: all cases. irrespective Of the amounts
involved on the original record, to the
Supreme Court Of the State of Louisi-
ana. The definitive DEGREES of said
courts shall not have the effect Of judy
ments against the State or the Board
OF Liquidation of the State Debt. The
Board Of Liquidation of the State Debt
'fle the claims. thus approved by the
courts of the State. out Of the sinking
fund above provided for as funds are
available. but they shall not be paid
Otherwise or out of any other fund
Nothing In this amendment shall be
construed as recognition By the State
of any liability, whether legal or euui-
table, to the owners or the holders of
any Of the said above designated bonds
warrants or claims. and the burden of
proof shall rest throughout on each Of
such claimants to show such liability.
Out of the first surplus accruing in
the sinking fund, there shall be paid in
iu'A INV uiilouht VI pIluClpdl anu Inter-
est due on the bonds of the State. the
face values of which aggregate Thirty
Seven Thousand Dollars. and which
are held by the United States as trus-
tee for certain Indian funus
This article as amended, shall be
deemed to he self-acting and directly
to confer the power and authority
herein granted without an enabling act
Of the General Assembly"
Section 2 Be it further resolved.
by the General Assembly OF the State
of Louisiana. two-thirds OF all the
members elected to each house con-
curing, That the official ballot to be |
used at said election shall have printed
'asasSp s Aas pr SIss amendment & All
-ticle 46 of the Constitution Of the State
of Louisiana. relative to the refunding
and settlement of the Indebtedness Of
the State"
Against the proposed amendment to
Article 46 Of the Constitution of the
State of Louisiana. relative to the re-
funding and settlement of the indebt-
edness of the State"
And each elector shall indicate on
said ballot, as provided in the General
Election Law Of the State. whether he
votes for or against the proposed amend
LIE. THOMAS,
Speaker Of the House of Representatives
THOMAS c. BARRETT
Lieutenant Governor and President of
the Senate.
Approved: July 18th. 1912.
L. F. HALL.
Governor of the State of Louisiana
"A true copy:
ALVIN F. HEBERT.
Secretary of State.