The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-10-05

:. nr7ce mot 10 exceed One Rundrs q
sra Tires and accrued interest,"
Bonds cannot be purchased as ,s snost
al INV the Board of Liquidation OF Ine
state Debt in sound. interest bearing
nsc,r3tieg. producing not less than 1o %
ner centum per annum interest," on 'i -,
amount 80 invested fsrnish or a adeauate Sc
cnrity to the State, to be approved ~
She said Board, at rate OF lhtefenl
mot less than four per centunl Per I'll
MIN Said tax shall be levied unlii
ali Of said bonds shall have peen th.
tired. but after the assessments OF LA
State reach the sum Of SIX Honu heHI
and Fifty Million Dollars said YAK "a ., sna.1
be reduced to one mill ana ssa ~ sn ,,,i1l
FOR each One Hundred MILLION Dolla ts
increase in assessments until the SAY
fax shall be reduced to six-tentns OF
one mill The said tax snali eo tin, ,,ar.
nifted to be levied by the Constructor.
In case the present system or TAXA a.
zion shall be changed before the satu
bonds shall have been paid, there aha ~
be levied annually tax sufflclent TO
produce q gross sum Of not less thah
Sir Hundred and Fifty Thousand Dor
lars to take the place of said tax OF
one and two-tenths mills ana 1rs re-
"The Board of Liquidation Of the
state Debt shall have power TO set.. e
under the conditions and limitations
hereinafter provided, the, following n,
GUS persons against the State, to-wit:
(5 The outstanding bonds known az
BABY Bonds excluding all Baby Bonds
Yraudulently issued by any official OF
125 auditors warrants issued for
school. certificates of Indebtedness un-
der Act 1875 of 1880. a :.
l3y Certificates issued under Act 50
Of 1880 for costs and Tees Que TO ing
officers Of the State. 800
a. Warrants drawn prior 20 Iooo
and fundab1e but not funded into BABY
Bonds
rs Warrants drawn after January
of 1880 against 1873 and previous years
Provided however that the owners e,
or the duly authorized trustees of the
owners Of said claims may prior 70
January LIST; 1915, but not ther ,as1iaa
zion Of the state Debt by rule. solely
and exclusively in the district court OF
the Parish Of East Baton Rouge 70
have the said claims examined ana an
their validity and the Indebtedness due
thereon determined, which court 10
hereby given Jurisdiction for that pur-
pose.
This Jurisdiction shall extend not
legal liability Of the State on any OF
said claims, but also to the deterniira-
ton OF any equitable liability Of the
State thereon and the extent OF such
ali cases, irrespective Of the amounts
involved, on the original record, to the
Supreme Court Of the State OF Louisi.
ana. The definitive DEGREES Of said
ssents 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
courts Of the State, out of the sinking
fund above provided for as funds are
available, but they shall not be paid
otherwise or out of any other fund.
Nothing In this amendment shall be
construed as recognition by the State
of any liability, whether legal or equi-
table. to the owners or the holders of
any Of the said above designated bonds.
warrants or claims, and the burden Of
proof shall rest throughout on each Of
such claimants to show such liability.
Out Of the first surplus accruing in
the sinking fund, there shall be paid in
est due. on the bonds of the State. the
face values Of which aggregate Thirty
Seven Thousand Dollars, and which
are held by the United States as trus-
tee for certain Indian funds.
This article as amended, shall be
deemed to be self-acting and directly
to confer the power and authority
herein granted without an enabling act
Willie STBH0TdI Assembly.
Section q Be IT. further resolved,
by the General Assembly of tie State
of I Il II tygos.t thirds
members elected to- each house con
curing. That the official ballot to b.
used At said election shall have printet
thereon the words:
.ITor the proposed amendment to Ar
ticle 46 OF the Constitution of the Stat,
OF Louisiana, relative to the refundint
and settlement Of the indebtedness o
the State"
And the words:
Against the proposed amendment t,
Article as OF the Constitution Of tn
State of Louisiana. relative to- the re
funding and settlement Of the fndebt
etlness Of the State"
And each elector shall indicate OF
said ballot, as provided in the Genera
Election Law Of the State, whether h
votes for or against the proposed amend
ment
L. E. THOMAS.
eaker of the House of Representatives
THOMAS C. BARRETT.
Lieutenant Governor and President O
the Senate,
Approved: July 11th, 1912.
Governor Of the state Of Loulsians
a true copy:
ALVIN E. HEBERT,
Secretary of State.