The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-10-12
ACr NO goa.
House Bill No. 43a. BY Mr. Fontenot.
Al JOINT RESOLUTION

A JOINT RESOLUTION
Proposing an amendment to the Con-
stitution Of the State Of Louisiana,
amending Article 46 Of the Constitu-
ton of 1898, as amended by Act No.
y 800 Of the Acts of 1910, ratified by
the people at the November election
Of 1910, SO as to authorize the Board
of Liquidation Of the State LIT to
issue new bonds to retire or refund
the State Bonded Indebtedness due
Il January 1st. 1914; to provide for a
tax for the payment of the interest
on said bonds and sinking fund to
retire the same; 10 provide for the
payment out of the said sinking fun
of an Indebtedness due by the State to
the United States, and Of certain other
claims against the State.
Section j. Be It resolved by the Gem
eral Assembly of the State Of Louisiana.
each house concurring, That an amend
ment to Article as Of the Constitution
of the State of Louisiana OF 1898. as
amended by Act NO, sos OF the :. Acts OF
Louisiana at Its session held in the year
1910, ratified by the people at the Me-
vember election of 1910, be submitted
to the qualified electors Of the State fer
gressiona1 election TO be held on thu
first Tuesday next following the first
Monday iii November OF 1912, said pro-
posed amendment toreaa as follows;
shall have no power 10 contract or TO
authorize the contracting OF any debt
or liability, on BEHALF Of the State. or
to issue bonds or other evidences Of
purpose OF repelIing invasion or for the
suppression Of Instruction. Provided,
that for the purpose Of retiring, liq-
uidating or refunding the present state
lion One Hundred and Eight Thousand.
Three Hundred Dollars, maturing Jan
uary list, 1914, and bearing four per
csntum per annum interest, the Board
Louisiana is given authority to issue
Eleven Thousand, One Hundred and
Eight new coupon bonds OF the State
Of Louisiana OF One Thousand Dollars
11,I08, bearing rate Of interest not
exceeding four per centum per an
mum, payable semi-annua1ly and to be
due and paid in fifty years from jan
shall be prescribed by the Board Of
Liquidation Of the State Debt and they
shall be signed by the Governor, the
Auditor and the Treasurer Of the State
bidder at not less than par after three
months of advertisement by the Board
Of Liquidation Of the State Debt in
New Orleans, Chicago and New York;
they may be exchanged at par by the
Board Of Liquidation OF the State Dept
for The bonds due January 1st, 1914
The excess of Three Hundred Dollars
Of the bonds due January 1st, 1914,
over the bonds authorized BIZ this ar.
ticle, shall be paid In cash ont of the
current interest funds of the state
The cost Of engraving and adyartising
said bonds shall also be paid out Of
the said fund. 20 N.
In all sother respects not herein spec
fled. the Board of Liquidation of the
State Debt is hereby given full power
and authority to carry out the nroyf-
sions of this amendment.
Beginning with January 1st. 1914.
there shall be and there IS hereby lev
led on al property on which general
state taxes are levied an annual tax
of one and two-tentfls mills the net
proceeds OF which shall be devoted to
the payment of the interest due on
said bonds, to the payment OF the in
terest due on the Indebtedness Of the
State TO the Free School Fund, to Sem
mary Fund and the Agricultural and
Mechanical College Fund, to the pay
ment OF the proper expenses Of the
Board of Liquidation Of the State Debt,
and the residue to the constitution Of
a sinking fund to be applied annually
except as hereinafter provided. to the
purchase Of said bonds by said Boa1e