The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1912-09-07
ACT no. aoa.


AOx no. 3J3s
House Bill No. 49, BY Mr.. Fontenot
A JOINT RESOLUTION
Proposing an amendment to the Con-
stitution Of the State of Louisiana.
ton Of 1898. as amended by Act No.
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 h Ut to
issue new bonds to retire or refund
the State Bonded Indebtedness due
January LIST. 1914; to provide for a
tax for the payment of the interest
retire the e0n ssms nd 70 D sxas found
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 l. Be II resolved by the Gem
erai Assembly Of the State OF Louisiana,
two-thirds of all the members elected to
each house concurring, That an amend
ment to Article 1s Of the Constitution
amended by Act No. sos OF the Acts of
the General Assembly OF the State OF
Louisiana at its session held in the year
Y 1s1o ratified by the people at the Mo-
to the qualified electors of the State for:
their approval or rejection at the CON-
gressional election to be held on thez
first Tuesday next following the first
posed amendment TO read as follows:
Article as. The General Assembl y.
shall have no power to contract or to-
or liability on Behalf or the s State de of
to issue bonds or other evidences of
indebtedness thereof. except for the
purpose of repelling invasion or for the5
suppression OF instruction. Provided4
that for the purpose of retiring, Ito II
uidating or refunding the present State
Bonded Indebtedness of Eleven Mil
lion. One Hundred and Eight Thousands
Three Hundred Dollars, maturing JAM
centum per annum interest. the Board
of Liquidation OF the State Debt ID
Louisiana Is given authority to issu{
t Eisyen Thousand. One Hundred anf1
OF Louisiana OF One Thousand Dollar
each. to be numbered No. l. to Nc
11.108. bearing q rate of interest MOI
payable Ssnsgm aS to
due and paid In fifty years from Jans
uary list. 1914. The form of said bond
shall be prescribed by the Board q
shall be signed by the Governor. t.
Auditor and the Treasurer OF the Stat
Said ponds shall be sold to the highes
bidder at not less than par after thr{
months m in,, or al. advertisement by the Boar
New Orleans. Chicago and New Yorl4 :
and in case said bonds cannot be soil
they may be exchanged at par by III
Board Of Liquidation OF the State Der
for the bonds due January LIST 1917
The excess OF Three Hundred Dollar
Of the bonds due January LIST. 1919
over the bonds authorized by this al
ticle. shall be paid in cash out of tn
current interest funds OF the Stat n
The cost of engraving and advertisir
said bonds shall also be paid out
the said fund
In all other respects not herein spey
tied. the Board of Liquidation of I'd
State Debt is hereby given full powI
and authority to carry out the PROV |
sioBs of this amendment
beginning with January LIST. 1914
there shall be and there is hereby let
led on all property on which genefst
state taxes are levied an annual ~
of one and two-tenths mills. the -
proceeds Of which shall be devoted
the payment of the interest due
said bonds, to the payment OF the
terest due on the indebtedness OF ~ J
State to the Free School Fund. TO Ser
mary Fund and the Agricultural a
Mechanical College Fund, to the IA
ment of the proper expenses of A.
Board of Liquidation OF the state DeYt
and the residue to the constitution
sinking fund to be applied annua2 u
except as hereinafter provided. to
purchase Of said bonds BIZ said Boa