The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1912-09-14
ACT 10. soa,

House Bill No. 433. BY Mr.. Fontenot-
A JOINT RESOLUTION
Proposing an amendment to the Com
stitution Of the State Of Louisiana.
amending Article As Of the Constitu-.
ton Of 1893. as amended by Act No.
the people at the November election.
Of 1910. 50 as to authorize the Board
of Liquidation of the State l. 1T to-.
issue new bonds to retire or refund
January LIST, 1914: to provide for a.
tax for the payment OF the interest
on said bonds and a sinking fund to
retire the same; to provide for tho
of an indebtedness due by the State to.
the United States. and OF certain other
claims against the State.
Section /. Be it resolved by the Gen.
eral Assembly of the State OF Louisiana,
two-thirds Of all the members elected to
each house concurring. That an amend
ment to Article 46 OF the Constitution
of the State Of Louisiana OF 1898. as
amended by Act No. 300 Of the Acts Of
the General Assembly of the State Of
Louisiana at Its session held in the year
1910. ratified by the people at the Mo-
vember election Of 1910. be submitted
their approval or rejection at the con-
gressionai elsction to be held on the
first Tuesday next following the first
posed amendment 10 read as Follows:
Article As. The General Assembly
shall have no power to contract or to
authorize the contracting of any debt
to issue bonds or other evidences Of
indebtedness thereof except for the
purpose Of repelling invasion or for the
suppression of inBurrection. Provided.
uidating or refunding the present State
Ronded Indebtedness of Eleven Mil,
lion. One Hundred and Eight Thousand.
Three Hundred Dollars, maturing JAM
uary LIST. 1914, and bearing four per
centum per annum interest. the Board
Of Liquidation OF the State Debt OF
Louisiana Is given authority to issue
Eleven Thousand. One Hundred and
Of Louisiana Of One Thousand Dollars
each. to be numbered Ne. l. to No.
11.1OS. bearing rate of interest not
asab four per SsRgm aa be-
due and paid In fifty years from Jam
uary LIST, 1914 The FORM OF said bonds
shall be prescribed by the Board Of
shall be signed by the Governor. the
Auditor and the Treasurer Of the State.
Said bonds shall be sold to the highest
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:
and In case said bonds cannot be sold
they ID msy DC e. par BY the
x>>>1s ~ "a LIN Aoo ssSh "a viz ot1tS t<oAs
for the bonds due January fst. 1914.
The excess Of Three Hundred Dollars
of the bonds due January LIST, 1914.
over the bonds authorized by tsis ar
ticle. shall be paid in cash out OF the
current interest funds OF the State.
The cost Of engraving and advertising
said bonds shall also be paid out OF
the said fund
In all other respects not herein spec
fled. the Board of Liquidation of the
State Debt is hereby given fun power
and authority to carry out the provi-
sions of this amendment
beginning with January LIST, 1914.
there shall be and there Is hereby lew
led on all property on which general
state taxes are levied an annual tax
of one and two-tenths 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
sinking fund to be applied annually
except as hereinafter provided. to the
purchase Of said bonds BY said Board