The Caldwell watchman. (Columbia, La.) 1885-1946, 1912-09-06
ACT no. aos.
House Bill No. 433. BY Mr.. Fontenot
A JOINT RESOLUTION

House Bill No. 433. By Mr.. Fontenot
A JOINT RESOLUTION
Proposing an amendment to the Con.
stltution OF the State of Louisiana.
amending Article 46 of the Constitu.
ton Of 1898. as amended by Act No.
1903 of the Acts Of 1910. ratified by
the people at the November election
or 1910, so as to authorize the Board
OF Liquidation of the State ut to
issue new bonds to retire or refund
the State Bonded Indebtedness due
January LIST, 1914; to provide for q
tax for the payment of the interest
on said bonds and sinking fund to
retire the same; to provide for the
payment out of the said sinking funu
OF an indebtedness due by the State to
the United States, and Of certain other
claims against the State
Section !. Be it resolved by the Gen.
eral Assembly Of the State of Louisiana.
two-thirds Of all the members elected to
each house cOncurring That an amend.
ment to Article 46 Of the Constitution
of the State Of Louisiana of 1898, 40
amended by Act No. 300 Of the Acts Of
the General Assembly Of the State Of
1910: ratified by the people at the No.
vember election Of 1910. be submitted
to the qualified electors of the STATE for
their approval or rejection at the con-
gressional election to be held on the
first Tuesday next following the first
Monday in November Of 1912, said pro-
posed amendment to read as follows:
Article 46. The General Assembly
shall have no power to contract or to
authorize the contracting of any debt
or liability. on behalf Of the state. or
to issue bonds or other Audiences OF
pnrpose of or for tho
81 insurrection. Provided.
that forssfn1 purpose Of retiring, liq-
uidatsss or 1efunding the present State
sonded Indebtedness Of Eleven Mil
Three Hundred Dollars, maturing Ian.
uary 1st, 1914. and bearing four per
,entum per annum interest. the Roar6
If Liquidation Of the State Debt 81
louisiana ts given authority to issna
Eleven Thousand. One Hundred and
~ new coupon bonds Of the State
'ac 10 TO be numbered No. i to NO.
1.1os;. bearing rate Of interest not
exceeding four per centum Der an.
,um, payable semi-annually and n y.
iue and paid in fifty years from 1ons
lary LIST, 1914. The form of said bond.
man ia1,x, De e,o prescribed by the Board Of
hall be signed by the Governor thr
Auditor and the Treasurer Of the sta .hs
'aid bonds shall be sold to the h;ohast
bidder at not less than par after 9hr:s
months OF advertisement by the RnarS
y Liquidation Of the State Deht :.
view Orleans. Chicago and Nav VOW.
nd In case said bonds cannot ha eoix
ney may De exchanged at par hv ths
,oard OF Liquidation Of the State nsnt
or the bonds due January ISL 1917
me excess of Three Hundred Doliar.
Y the bonds due January lat ia1x
yer the bonds authorized by this A..
icte' shall be paid in cash ONT ~ a..
1rrent interest funds of the st, ,'
ne cost or engraving and advertisinc
aid bonds shall also be paid ont ny
he said fund ''" o0s OK
In all other respects not herein snac-
ied. the Board Of Liquidation OF ~.
tate Debt is hereby given fun nowar
nd authority to carry out the provi.
IONS OF this amendment
Beginning with January lot 1874
mere shall be and there is hereby Low.
"a on all property on which general
tate taxes are levied an annual tar
I one and two-tenths mills. the naS
foceek OF which shall be devoted -
ne payment of the interest due m
ald ponds. to the payment Of ths IN.
crest due on the Indebtedness ~ +h.
tate to the Free School Fund 10 .enn.
1afy fund and the Agricultural and
lechanical College Fund. to the nav.
lent of the proper expenses ~ az.
GARD OF Liquidation of tho state neht
~ u, tne residue to the constitution Of
~a nnk'ng Iund to be applied annually
n.sps as nereinafter provided, to the
uFcnass OF said bonds By said Rosrd