The Caldwell watchman. (Columbia, La.) 1885-1946, 1912-09-13
Acr 10. aoa.
House B!ll NO. 4S3. By Mr.. FontenoA
A JOINT RESOLUTION

House Bill No. 4S3. BY Mr.. Fonteno&
A JOINT RESOLUTION
Proposing an amendment to the Con.
stitution Of the State of Louisiana.
amending Article IS Of the Constitu.
Ilon OF 1898. as amended by Act No.
So3 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 / ut to
issue new bonds to retire or refund
the State Bonded Indebtedness duo
| !a ist. 1914; to provide for a
| tax Tor the payment of the interest
on said bonds and sinking fund to
Ietlre the same; to provide for the
payment out of the said sinking funu
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 70
each house concurring. That an amend.
ment to. Article as of the Constitution
or the State Of Louisiana of 1898, a.
amended BY Act No. 303 of the Acts Of
the General Assembly Of the State Of
1910; ratified by the people at the No.
Vember election Of 1910, be submitted
TO the qualified clecto Of the Stat. for
tnelr approval or rejection at the con-
ss:ressinuaf election to be held on the
I,rst tuesday next following the first
posed amendment TO read as follows:
Article is. The General Assembly
stiail nave no power to contract or to
authorize the contracting of any debt
or liability. on behalf Of the State or
70 issue bonds or other evidences Of
n rnuen.edness thereof. except for the
suppression ss Of Instruction Provided.
mar Tor the purpose Of retiring. liq.
nldat1ng or refunding the present State
, Holu:en Indebtedness Of Eleven Mill
, non. One Hundred and Eight Thousand.
IRE, ,nree hundred Dollars, maturing jan
centum per annum interest, the BOARD
OF . LIQUIDATION Of the State Debt Of
LOUISIANA 10 is given authority to issue
Eieven Thousand, One Hundred and
L,snt new coupon bonds Of the State
~. louisiana Of One Thousand Dollars
11.1os;'. bearing a rate Of interest not
exceeding four per csntum Der an.
nen, payable senni-annually and to BE-
Que and paid in fifty years from Jan.
uary Isl, 1914. The form Of said bonds
snall De prescribed by the Board of
s s1sauloa ZION OF the State Debt and they
auditor and the Treasurer of tho state
sag SAG bonds shalt be sold to the highest
olooer at not less than par after three
months Of advertisement by the noard
.. Liquidation OF the State Debt IN
New Orleans Chicago and New YORK:
ana IN case said bonds cannot he sold
rney may be exchanged at par by the
!.oar1 OF Liquidation Of the State Deot
.3r the bonds due January fsf 1914.
me excess Of Three Hundred Dollars
Of the bonds due January 1st, 1914.
t,cia t s,'.n oonds authorized by this ar.
current current interest funds OF the State.
me cost Of engraving and advert;sin1
SAID bonds shall also be paid ont ~
the said fund p"'N Wv VI
IN all other respects not herein snac.
lea. the Board Of Liquidation Of tina
state Debt is hereby given fnll mower
and authority to carry out the provi.
SONS Of this amendment
~, neeihning with January list. 1914.
; ;asFe snail be and there is hereby lev.
.ta on All property on which general
~ ntate taxes are levied an annual tax
-. one and two-tenths mills. the net
ths"ceeas OF which shall be devoted to
s snI payment Of the interest due on
sa am .'ohds, 10 the payment Of the tn
S se.est que on the indebtedness OF <hs
snte 20 the Free School Fund to Sem
MY funn and the Agricultural and
r,esa College Fund, to the ray.
rnent o! the proper expenses of tho
nosrd OF Liquidation of the state Debt.
q ana the residue to the constitution Of
a. SINKING fund to be applied annually
except as hereinafter provided. 10 the
po1e"sSe OF said bonds BY said Baard