The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-08-31

rice not to exceed One HunorS =.
st g, rse and accrued interest
a aad cannot be purchased as , aaost
eats III tf,a Board Of Lfquida ton OF tnt
"a py nebt In sound, interest bearlns
Htaie, producing not less than 1oal
secaIar,trlrn per annum interest on tne
+ per sea ca invested, or deposited II
a f,.ant banks furnishing ADEQUATE Sc
s sor;sy to the State, to be approved BY
eullss Board, at a rate OF interest,"
the iass than four per centum per an,
nos ies Said tax shall be levied until
nuM. ssid bonds shall have been re-
AZ .a = INT after the assessments or ths
IIsa reach the sum OF SIX Hundreu,
SlasJT ifty Million Dollars, SAID tax shall
anu inanead to one mill and shall there
be TeI ~ raduced two-tenths of one mill
y eflei vi, one Hundred Million Dollars
a iof soY IN assessments until the sald
inei a,a11 be reduced to six-tenths OF
ta1 .niti The said tax shall constitute
/ ols sa 1T nf the six mills of taxation per-
. .t. H. to be levied by the Constitution.
ml.s 10 co the present system or taxa
~ =, shaiI be changed before the sald
n oa shall have been paid. there shall
pohi h, annually a tax sufficient to
pesroa a gross sum Of not less than
r. Hundred and Fifty Thousand Dol.
III to take the place of said tax OF
~ and two-tenths mills and 1ts re-
da ssrba board Of Liquidation of the
,..ta T,eht shall have power to settle
s .aar the conditions and limitations
uli aasiraffer provided, the following
b. lsain,s OF Indebtedness made by Var1-
w nersong against the State, to-Wlt:
VIZ RI The outstanding bonds known as
pahy Bonds excluding all Baby BONDS
fraudulen,iy lsSueo ~ eA''
w ~ - auditors warrants issued for
,ohool certificates of Indebtedness un-
ssr Act 1875 Of 1880.
" lg1 Certificates issued under Act 80
Of 1850 for costs ana ices que 10 the
osftrers of the State.
VA IN Warrants drawn prior to 1880
,na fundable but not funded into Baby
Dy IN Warrants drawn after January
81 II 1850 against 1878 and previous years
Provided, however, that the owners
4, he duly authorized trustees of the
yanfary 1st, 1915, but not thereafter,
sraeeei against the Board of Liquida-
Eon of Tie State Debt by rule. solely
end exclusively In the district court of
M M Parish of East Baton Rouge, to
have the said claims examined and
thereon determined which court Is
hereby given jurisdiction for that pur-
phi This jurisdiction shall extend not
only to the determination of the mere
legal liability of the State on any of
said claims, but also to the deterlllina-
tion Of any equitable liability Of the
eouitable liability. Appeal shall lie in
MI 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 judg
merits 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
tie 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 equt-
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.
Il Out Of the first surplus accruing in
q ihe sinking fund, there shall be paid in
full the amount of principal and inter-
cat 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 funds.
This article, as amended shall be
dsemed to- be self-acting and directly
To- confer the power and authority
p herein granted without an enabling act
Of the General Assembly"
Section 2. Be 1t further resolved,
y BY the General Assembly of the State
Of Louisiana, two-thirds of all the
members elected TO each house con-
iSfarring, That the official ballot to be
A used at said election shall have printed
thereon the words:
For the proposed amendment to Ar
tele 46 Of the Constitution of the State
y q Louisiana, relative to the refunding
and settlement Of the Indebtedness OF
= The State.
And the words:
Against the proposed amendment to
Article 40 OF the Constitution Of the
plate Of Louisiana, relative to the re-
edness Of the State"
And each elector. shall indicate on
sasa ballot, as provided in the General
SECTION Law Of the State, whether he
ment. : fs~'~'>N :, 80 "1'r-'
L. E. THOMAS,
ieaker Of the House of Representatives
1 Il , THOMAS C. BARRETT.
ssieulenahf Governor and President of
the Senate.
: approved; July 18th. 1912.
L E. HALL,
Governor Of the State of Louisiana.
true copy:
ALVIN T. HEBERT.
Secretary of State.
~ 4 \