The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-09-28

.,,o rot to exceed One Hundred
@ ut r p..s and accrued interest.
snd d.s h neaunot be purchased as aLore-
osd the sinking S9nd ;a gnaa Of he
I'd ny5 n n in sound, interest, bearing
STAT, a sc producing not less than four
seea.ast1,r, per annum interest on the
per MS so invested or deposltea IN
an ,g.nt banks furnishing adequale So.
ee9ity to the state 10 ef ap Of interest
the i sec than four per centum per All IL
not ieps said tax shall be levied until
rnn said bonds shall have peen re-
81 - nut after the assessments OF tn e
s otsts reach the sum OF ok raund, FL II
ana r ll,csd to one mill and shall there,
be Isu ha reduced two-tenths of one mill
SITTER a W one Hundred Million Dollars
for s in assessments until the SAG Z
laci eshs1I be reduced to six-tenths OF
ens mill The said aa, tax 81 nni taxation per-
seip. pa TO be levied by the Constitution.
fGni.lea .ase the present system Of taxa
-! n shaii be changed before the SAID
sue ~ shall have been paid, there shail
y nlsyied annually tag sutr1 lsHa M. 10
prooLuE nsndred and Fifty Thousand DOL
Pc, Pc to take the place of said tax OF
lals and ~ two-tenths mills and it's re-
dus s1'he board Of Liquidation of the he
gate Debt shall have power 70 s 4;ee
s s.dts the conditions and limitations
u hae, ffer provided the following
q n ,aas.s If Indebtedness made by var1-
c esa ,ersons against the State, to-w1t:
ou w, r. The outstanding bonds known as
pahy Bonds excluding all Baby Bonds
fraudulently issued by any officlal OF
tns sss pc Auditor's warrants issued for
..sso ~, certificates Of indebtedness UNI
az Act 1875 of 1880. ~,
oe ~ ~ Certificates issued under Act 80
81 If 1880 for costs ana lees Que 10 the
Wy "A Warrants drawn prior to 1880
..d fundable but not funded into Baby
bo X, Warrants drawn after January
~ 1850 against 1878 and previous years.
= proyided. however, that the owners
: p ne duly authorized trustees of the
orners Of said claims may prior to
gan,,arv list. 1915 but not thereafter,
4 rroneei against the Board Of Liquida-
In ~ me State Debt by rule, solely
and exclusively in the district court OF
sss Parish OF East Baton Rouge, to
sa ~ The said claims examined and
t .a validity and the Indebtedness due
tSereon determined, which court is
hsraby given jurisdiction for that pur-
pose. u o.
4
oni VT to the determination of the mere
4 legal liability of the State on any of
aid claims, but also to the determine
don Of any equitable liability OF the
STATE thereon and the extent of such
equitable liability. Appeal shall lie in
involved on the original record, to the
guprsme Court Of the State of Louisf-
sna. The definitive DEGREES of said
courts eol, shall not have the effect of judy
ments against the State or the Board
81 Liquidation Of the State Debt. The
Board Of Liquidation of the State Debt
shall have the exclusive power to set
lie 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 a recognition by the State
Of any liability, whether legal or equf-
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
anch claimants to show such liability.
Out of the first surplus accruing in
tile sinking fund, there shall be paid il
full the amount Of principal and inter
II est due on the bonds Of the State, the
face values Of which aggregate Thirty-
are held by the United States as trus-
! tee for certain Indian funds.
This article, rs amended, shall be
deemed to be self-aeting and directly
to confer the power and authority
herein granted without an enabling act
of the General Assembly
Section 3. 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
thereon the words:
For the proposed amendment to Ar
ticle 46 Of the Constitution Of the State
nf Louisiana, relative to the refunding
the State
And the words:
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
ment,
L. E. THOMAS,
4 speaker Of the House Of Representatives
THOMAS C. BARRETT.
z Lieutenant Governor and President OF
the Senate
Approved: July 18th, 1912.
L. e. HALL,
Governor Of the State OF louisiana
y true copy.
ALVIN =. HEBERT,
secretary Of State.