The Caldwell watchman. (Columbia, La.) 1885-1946, 1912-08-30
ACT NO. 2o3.
House Bill No. 433. BY Mr.. Fontenot
A JOINT RESOLUTION

S0SA ANOs 0Vos
House Bill No. 433. 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,
303 Of the Acts of 1910, ratified by
OF 1910, so as to authorize the Board
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 a
tax for the payment of the interest
on said bonds and a sinking fund to
retire 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 to
each house concurring. That an amend-
ment to Article 46 Of the Constitution
of the State Of Louisiana Of 1898. al
amended by Act No 303 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 No
to the qualified electors of the State for
their approval or rejection at the con-
gressional election to be held on tha
first Tuesday next following the first
Monday in November of 1912. said pro-
posed amendment to read as follows:
shall have no power to contract or to
authorize the contracting of any debt
or liability, on behalf Of the State. or
to issue bonds Or other evidences OF
Indebtedness thereof, except for the
purpose Of repelling invasion or for the
suppression of insurrection. Provided,
that for the purpose Of retiring, liq-
Bonded Indebtedness Of Eleven Mil
lion. One Hundred and Eight Thousand.
Three Hundred Dollars, maturing Jan.
uary 1st 1914, and bearing four pen
centum per annum interest. the Board
Of Liquidation Of the State Debt Oh
Louisiana is given authority to issue
eleven Thousand, One Hundred and
Eight new coupon bonds of the State
OF Louisiana Of One Thousand Dollars
each, to be numbered No. L to NO.
ll,l0s,, bearing rate Of interest not
exceeding four per centum per an,
due and paid in fifty years from Jan.
uary LIST, 1914. The form of said bonds
snail be prescribed by the Board Of
Liquidation Of the State Debt and the1
snail be signed by the Governor, the
auditor and the Treasurer Of the State.
"oiiuS SAail NC Sulu 10 the nlghe0e
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:
ana In case said bonds cannot be sold
,ney may be exchanged at par BY the
;"s a. OF Liquidation Of the State Deot
s3r 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.
tlcle, snail be paid In cash out Of tn.
current interest funds Of the STATE,
said bonds shall also be paid y. out ae
the said fund. FN WI Oh
I'm all other respects not herein sn.o-
fled. the Board Of Liquidation ~ "p ~
State Debt is hereby given fun nov Mo
and authority to carry out The p pumsr
sions Of this amendment. p'o'i'
Beginning with January lot ,o,.
there shall be and there ia herahv ta,s'
led on all property on Which, 'eo osna lev,
state taxes are levied an annual t a.
OF one and two-tenths mills tho sax
proceeds Of which shall he dev ,me hes
the payment Of the Interest d',n 10
said bonds. to the payment Of ~. on
terest due on the indebtedness . oV m
State to the Free School Fund ~ " tho
mary Fund and the Agrictuitnro1 sem,
Mechanical College Fund. to ~ ana
ment of the proper EXPENSE. '"e pay
Board Of Liquidation Of The st.+e ol tho
and the residue to the constitut1aD eot.
q axc sank'ng Iund to be applied annua,ix
enSsps as hereinafter provided, To- ~
purchase OF said sbonds BY said RosrS