Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1912-08-30

At . price not TO exceed one Fs...-7 -
and Three and accrued infer-ss.I
bonds cannot be purchased a. -. Y
sSid; the sinHins ignd shall Be inrssr
State Debt in sound. interest ~. -
securities, producing not less fh.~ ~
per centum per annum intereef !. ~
amount 80 invested. or depoelf.4 ~
solvent banks furnishing adeqnafe ~
curity to the State. to be apDrc-,.
the said Board, at a rate 81 ~. u
not less than four per centum nss ~
num- Said tax shall be levl,5 : ~.
all of said bonds shall have heer ~l1
tired, but after the assessmenta a. =,
State reach the sum OF Six Hnre..,,
and Fifty Million Dollars, said IA s.4
be reduced to one mill and shall n ~
after be reduced two-tenths Of a., ~
for each One Hundred Million n.,,-.
increase In assessments until ~ ~
tax shall be reduced to six-ter,h.
one mill. The said tax shall con~,,.I
part Of the six mills Of taxsiIoe ~
mitted to be levied by the CouelIi,,|I
In case the present system 81 f,-
ton shall be changed before the ~
bonds shall have been paid, there s<.@
be levied annually tar sufficisns' ',a
produce a gross sum OF not lere n Y
4 Six Hundred and Fifty Thoueanf 80
lars to take, the place OF said 49,
enc and two-tenths mills and Ia \,
| auctions.
'~The Board of Liquidation A,
State Debt shall have power "a 49,.
under the conditions and HmlfsII-.
hereinafter provided. the foIi4e',.
claims OF Indebtedness made ~ ~
Gus persons against the State. to-uil
| Baby Bonds excluding all Baby 49,.
fraudnlentiy issued by any Official N
(s5 Auditors warrants isss.s :.
school: ce1tiflcate ss Of indebtedness a.
go Certificates issued under A, 4,
of 1850 for costs and fees due 10 n.
officers of the State.
90 Warrants drawn prior "a ia.
and fundable but not funded into 1.l5
(s) Warrants drawn after ya.....
OF 1880 against 1878 and previous rs,,,
Provided. however, that the owns.
or the duly authorized trustees 81 tx
owners Of said claims may prior 5
proceed against the Board 81 LicnIS.
ton of the State Debt by rule so||.
and exclusively IN the district conr. 4.
the Parish OF East Baton Rougs h
have the said claims examined "a
their validity and the indebtedness. M,
thereon determined. which court &
hereby given jurisdiction for that prr.
pose.
This jurisdiction shah extend IA.
only to the determination Of tie n,,'
legal liability OF the State on any AZ
ton of any equitable liability Of a.
State thereon ard the extent Of rr.a
equitable liability. Appeal shall lie h
all cases. irrespective Of the amount,
Supreme Court OF the State Of Lo1..l,
ana The definitive DEGREES OF r1|I
courts shall not have the effect of tai.
ments against the State or the 8osr
OF Liquidation OF the State Debt Iht
Board Of Liquidation Of the stale D>6
shall have the exclusive power 70 ~
tie the claims, thus approved By ID
courts OF the State, out OF the eInE'tI
| fund above provided for as funds ~.
available. but they shall not Be paid
otherwise or out OF any other fund
Nothing IN this amendment shall a
construed as recognition By TIE sat,
Of any liability. whether legal Or .ou|.
table, to the owners or the holders u
any Of the said above designated 5ontt
warrants or claims. and the burden d
proof shall rest throughout on each d.
such claimants to show such liability
Out sf the first surplus accruInf b
the sinking fund, there shall Be rai1 h
| full the amount Of principal Rnd letter
est due on the bonds Of the Efa(o IL
face values Of which ageregats ThI11'
are held by the United states a. trQ1
tee for certain Indian funds.
This article. as amended. shall b
} deemed TO be self-acting and tIrecl||
to confer the power and authofIt
herein granted without an enabling &C
OF the General Assembly"
Section q Be II further resolved
by the General Assembly OF the STAT
Of Louisiana. two-thirds Of al nj
members elected TO each house cen
curing, That the official ballot 70 b
used al said election shall haye pfinte
thereon the words:
ssFor the proposed amendment % Az
ticle as OF the Constitution Of the stat
of Louisiana, relative to the rofundln
: and settlement of the indebtednesS .
the State"
: And the words:
Against the proposed afnendIneri
Article As OF the Constitution Of y
! state Of Louisiana. relative to the 4
funding and settlement Of the indto
edness Of the State"
And each elector shall indicate Q
said ballot as provided In the 0ener
! Election Law Of the State. whether
! votes for or against the proposed amen
: ment
. Speaker of the House OF RepresentatIyt
THOMAS G. BARhIf
Lieutenant Governor and President
the Senate.
Approved: July 18th, 1912.
Governor Of the State Of Louisian
ALVIN e. HEBERT,
: Secretary OF state.