The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1912-08-30
ACT NO, 202,
House Bill No. 1873. By Mr.. Fsass4
A JOINT RESOLUTION

House Bill No. 1873. BY Mr.. Fsd.sa
A JOINT RESOLUTION
Proposing an amendment to he C. /
stitution of the State of Louisaa
amending Article 46 of the Coasia
ton of 1898. as amended by Actin
.303 of the Acts of 1910, rattfisi I
the people at the November elssEla
of 1910, SO as to authorize the Baz
of Liquidation of the State La q
issue new bonds to retire OF nlsz
the state Bonded Indebtedness a|
January fst. 1914; to provide 10
tax for the payment of the intsIs
on said bonds and sinking fari 4
retire the same; to provide fa y
payment out of the said sinking 10
of an Indebtedness due by the saa Z
the United States, and OF certain eas
claims against the State.
Section l. Be ii resolved by me "
eral Assembly of the State of LOUISE
two-thirds of all the members eleetA !
each house concurring, That an arsA
ment to Article 46 of the ConslNia
of the State of Louisiana OF W.
amended by Act No. 303 OF the aee
the General Assembly of the Slae
Louisiana at it's session held IN Ins Y, Y
1910, ratified by the people at !ne y. y
vember election of 1910. be saDnu /.
to the qualified electors OF the enN :
their approval or rejection at he a 4.
gressional election to be held " Z.
first Tuesday next following lns ~
Monday in November Of 1917. sala =
posed amendment TO read as follossy 80,
Article 46. The General Asss. \
shall have no power to CONTRACT 5. I
authorize the contracting OF snI =
or liability. on behalf of the sun
to issue bonds or other evidences 4 :
indebtedness thereof. except ~ II
purpose of repelling invasion q r. " Z
suppression of insurrectlon. f.s'J,s
that for the purpose Of reullus vi
uidating or refunding the pressls ii ~
Bonded Indebtedness OF EiesM .. a
lion, One Hundred and Eight Ihss'ii 4,
Three Hundred Dollars, maluliA
uary 1st, 1914. and bearing pI III Z;
centum per annum interest,", wy 81
of Liquidation of the S!a.e - -
Louisiana is given authority Il
Eleven Thousand. One hunaIs. MI
Eight new coupon bonds OF ,a5 Ts m
of Louisiana of One Thousaaa u Il
each. to be numbered NO. 4
HOS bearing a rate OF mt ~ d
exceeding four per centum " n
mum. payable semi-annuaily any ns,. u
due and paid in fifty years IIgIs ~.
uary 1st, 1914. The form OF saia I
shall be prescribed by the bos@s AZ
Liquidation of the State Depl s. d
shall be signed by the cove ~ III
Auditor and the Treasurer Oh Wy ,ste
Said bonds shall be sold 10 la s,., III
bidder at not less than par am an gaa
months of advertisement py nsn
of Liquidation of the Stats 10
New Orleans, Chicago ana ~ i, y
and in case said bonds eannu. ~ D
they may be exchanged at pa, ss ps
Board of Liquidation of the o, ,ss III
for the bonds due January IL ne3r
The excess of Three Hundrea M
of the bonds due January lN "a 3
over the bonds authorized " !
ticle, shall be paid in casn o ,ss ST.
current interest funds OF ussssrlss
The cost Of engraving ana au scl
SdlO UonuS Shall dioo
the said fund. ..reln 81
I'm all other respects not nso Il =
fled, the Board of Liquidatytn,, ri, ~
State Debt is hereby given t ~ asg
and authority to carry Out
sions of this amendment st II
beginning with January .rsby y
there shall be and there 10 inS gspsf
led on all property on WHICH asnr,i d !
state taxes are levied an ma, s ne !
of one and two-tenths milisS svolsd
proceeds of which shall be ess M
the payment of the inteIes.o ~ DE
said bonds. to the paymenas, . - d
terest due on the indebtednsS 10 y
State to the Free School PUTIN ',,sarsI .
mary Fund and the Agrictals1tas 4
Mechanical College Fund. ~ d
ment Of the proper expenSsts ts D
Board Of Liquidation OF the sa,.utja
and the residue to the coud suss
a sinking fund to be apple 10
except as hereinafter sssid y
purchase of said bonds ~