The Donaldsonville chief., 1912-10-12

nx r. price mot to exceed One Hundrsa
and Three and accrued interest,"
bonds cannot be purchased as sr4 sIol
said. the sinking FUND ,dMdda gnan tion og Of the
State Debt in sound. interest Deas sa,,s
securities producing not less than iohs
per centum per annum interest Oh Ito 10
amount 50 invested; shIpe or aepSs adsauate Sc
curity to the State, to be approves ~
the safd Board, at rate OF lnteies.
not less than four per centum per On
mum. Said tax shall pc aue ievhea hean re-
tired. but after the assessments %
State reach the gum OF Six M Hunuas1 .he1i
and Fifty Million Dollars said Tax "a .Snsa Saa,A
De reduced to one m MIL .anths anu S" nf one mill
for each One Hundred Million Dotlais ais
increase in assessments until tns saap
tax shall be reduced to s1-tenInS -
sne mill The said ia, tax 81 shati taXetinn etn nere
rnitted to be levied by the Constetusioai. 4ena
In case the present system OF taAa ta,
tion shall be changed before the saiu ,I
bonds shall have been p. pa'a, a,,,ffieient 1ie ~ to
nroduce q gross sum of not less Inan
siy Hundred and Fifty Thousand DOL.
lars to take the place of said tax OF
one and two-tenths mills and lIs re-
@The Board of Liquidation OF the
state Debt shall have power to aet.le
under the conditions and limitations
proyided ade 1he by var
Gus persons against the State, to-W1t:
G5 The outstanding bonds known az
Raby Bonds excluding all Baby Bonds
frauduently issued by any official OF
the State"
(2) Auditors warrants issued for
school certificates Of Indebtedness un-
der Act 126 of 1880. a,
(s) Certificates issued under Act ss
of 1880 for costs and fees due TO Tue
officers of the State. .aoo
(4) Warrants drawn prior TO leoV
and fundable but not funded into BABY
Bonds.
of 1880 against 1878 and previous years:
Provided, however. that the owners
or the duly authorized trustees or tne
owners Of said claims may prior 70
January 1st. 1915, but not theteatite,, ia,id
zion of the State Debt by rule, solely
and exclusively in the district court OF
the Parish of East Baton Rouge, 70
have the said claims examinea ama 5,a
thereonr u, determined, which court III
hereby ,iven jurisdiction for that pur-
This Murisdfction shall extend not
only tsi!the determination Of the mere
legal liability of the State on any OF
said claims, but also to the deterniina-
tion OF any equitable liability OF the
State thereon and the extent OF suen IN
all cases, irrespective of the amounts
involved, on the original record, to the
Bupreme Court of the State of Louisi-
ana. The definitiye DEGREES re. Of s ,sa1 sald
courts shall not have the effect or Judg-
.onts against the State or the Board
OF 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 equi-
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. j
Out of the first surplus aeeruing in
the sinking fund, there shall be paid in
full the amount of principal and inter-
est due on the bonds Of the State, the
face values Of which aggregate Thirty
Seven Thousand Dollars. and which
are held by the United Sta tes as trus-
tee for certain Indian funds.
This article. as amended, shall be
deemed TO be self-aeting and directly.
70 confer the power and authority
herein granted without an enabling act
OK the General 5Assenbl W 65 ss
Section q. Be it further reBo1yed,
by the General Assembly Of the State
of Louisiana, two thirds Of all the
curing. That the official ballot to be
usedsa said election shall have printed
thereon the words:
For the proposed amendment to Ar
of Louisiana. relative to the refunding
and settlement of the indebtedness of