The Caldwell watchman. (Columbia, La.) 1885-1946, 1912-10-18
q, q price not to oxceed One Hundreu

at price not to exceed One Hundred
and Three and accrued interest. If
bonds cannot be purchased as afore-
said, the sinking fund shall be invest
ed by the Board of Liquidation of the
State Debt in sound interest bearing
securities. producing not less than four
per centum per annum interest on the
amount so invested, or deposited in
solvent banks furnishing adequate re-
curitv to the State to be approved by
the aad BOARD, at a rate of interest
not less than four per centum per sn-
mum. Said tax shall be levied urtil
all of said bonds shall have been re.
tired. but after the assessments of the
State reach the sum of Six Hundred
and Fifty Million Dollars. said tax shall
DO reduced to one mill and shall there
after be reduced two-tenths of one mill
for each One Hundred Million Dollars
increase in assessments until the said
tax shall be reduced to six-tenths of
one mill The said tax shall constitSit.
part Of the six mills of taxation per
mitted to be levied by the Constitutions
In case the present system of taxa
ton shall be changed before the said
bonds shall have been paid. there shall
be levied annually Il tax sufficient to
produce gross sum Of not less than
Six Hundred and Fifty Thousand Dol
lars to take the place of said tax OF
one and two-tenths mills and its re-
auctions.
The Board of Liquidation of the
State Debt shall have power to settle
under the conditions and limitations
hereinafter provided, the following
claims of Indebtedness made by vari-
Gus persons against the State. to-wii:
% The outstanding bonds known as
Baby Bonds excluding all Baby Bonds
fraudulently issued by any official of
the State
co auditors warrants issued for
school. certificates Of indebtedness un-
der Act 1876 of 1880.
60 Certificates issued under Act 90
of 1880 for costs and fees due to the
officers of the State.
a. Warrants drawn prior to 1880
and fundabe but not funded into Eaby
Bonds.
90 Warrants drawn after January
of 1850 against 1878 and previous years
Provided, however, that the owners
or the duly authorized trustees Of the
owners of said claims may prior to
January 1st 1915. but not thereafter,
proceed against the Board of Lquida-
ton of the State Debt by rule. solely
and exclusively in the district court of
the Parish of East Baton Rouge to
have the said claims examined and
their validity and the Indebtedness due
thereon determined. which court: is
hereby given jurisdiction for that nur-
pose.
This Jurisdiction shall extend not
only to the determination of the mere
legal liability of the State on any of
said claims. but also ia the determine
ton of any equitable liability Of the
State thereon and the extent of such
equitable liability. Appeal shall lie in
all eases. irrespective of the amounts
involved, on the original record, to- the
Supreme Court of the State Of Louisi-
ana The definitive DEGREES Of said
courts shall not have the effect Of iudg.
ments 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 pad
otherwise or out of any other fund
Nothing in this amendment shall be
construed as a recognition by the stare
of any liability, whether legal or Aqui
table to the owners or the holders OF
any Of the said above designated bonds
warrants or claims. and the burden III
proof shall rest throughout on each o.
such claimants to show such liability.
Out of the first surplus accruinE il
the sinking fund, there shall be paid II
full the amount Of principal and inter
est due on the bonds of the State tn
face values of which aggregate Thirty
Seven Thousand Dollars. and whici
are held by the United States as frus
tee for certain Indian funds
This article as amended, shall b
deemed to he self-acting and diractl
to confer the power and authorit,
herein granted without an enabling &C
of the General Assembly"
Section 2. Be it further resolved
by the General Assembly of the Stat
Of Louisiana, two-thirds Of all tn
M members elected to each house con
ia curing That the official ballot 20 b
used at said election shall have printe
thereon the words:
- For the proposed amendment IT, AT
ri ticlc 46 Of the Constitution Of the Stat
of Louisiana relative to the refuhdin
and settlement Of the Indebtedness
the State"
And the words:
Against the proposed amendment
Article 46 of the Constitution Of tt
State of Louisiana. relative to the n
funding and settlement of the ihdeb
edness Of the State
And each elector shall indicate
said ballot. as provided in the Grner
Election Law of the State. whether
votes for or against the proposed amen
"e"'' l.. E. THOMAS
Sneaker of the House of Represents tive
THOMAS c. BARRETT
Lieutenant Governor and President
the Senate. g..
/. E. HALL.
Governor Of the State Of Loutsiar
A true COPY:
ALVIN f. HEBERT,
Secretary of State.