The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1912-09-21
ACT no. aos.
House Bill No. 433. BY Mr. Fonteno
A JOINT RESOLUTION


House Bill No. 4ss. BY Mr. Fontenot
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.
30S Of the Acts Of 1910. ratified by
the people at the November election
Of Liquidation OF the State 1T to
issue new bonds to retire or refund
the State Bonded Indebtedness due
January LIST. 1914; to provide for q
on said bonds and a sinking fund to
retire the same; to provide for the
payment out of the said sinking fun.
Of an indebtedness due by the State to
the United states. ana OF certain other
Section /. Be IL resolved by the Gem
erai Assembly Of the State OF Louisiana,
two-thirds OF all the members elected to
ment to Article As Of the Constitution
of the State Of Louisiana of 1885, az
amended by Act No. 1903 Of the Acts Of
the General Assembly OF the State of
1919, ratified by the people at the Mo-
vember election OF 1910, be submitted
to the qualified electors of the State for
their approval or rejection at the con-
first Tuesday next following the first
Monday in November OF 1912 said pro-
posed amendment TO read as follows:
Article AZ. The General Assembly
authorize the contracting Of any debt
or liability, on behalf of the State, or
to issue bonds or other evidences of
purpose of repelling invasion or for the
suppression of instruction. Provided.
that for the purpose of retiring, liq-
uidatins or refunding the present State
lion. One Hundred and Eight Thousand.
Three Hundred Dollars. maturing jan
uary list. 1914. and bearing four per
&c csnfIm per ,,a annum interest the Board
Louisiana is given authority to issue
Eleven Thousand. One Hundred and
Eight new coupon bonds Of the State
each, to be numbered No l. to NO.
11.1OS, bearing rate OF interest not
exceeding four per centum per an
mum. payable semi-annualiy and to be
uary LIST. 1914. The form Of said bonds
shall be prescribed by the Board of
Liquidation OF the State Debt and they
shall be signed by the Governor. the
Said bonds shall be sold to the highest
bidder at not less than par after three
months OF advertisement by the Board
New Orleans. Chicago and New York:
and In case said bonds cannot be sold
they may be exchanged at par by the
BOard OF LIQUIDATION or the State DeDt
for the bonds due January LIST. 1914.
The excess OF Three Hundred Dollars
of the bonds due January LIST. 1914.
over the bonds authorized by this 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 cut the sproyf-
sipns 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 tar
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 paw
ment of the proper expenses or the
Board OF Liquidation Of the State Debt.
and the residue to the constitution a.
a sinking FUND to be applied Annually
except a. hereinafter provided. 10 the
purchase Of said bonds b. Gn1d Doar6