The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-11-02

as. O. price NOT to exceed one Hundred
and Three and accrued interest
bonds cannot be purchased as a1ors-
said, the sinking fund shall pc ln ~ ~
ed by the Board of Liquidation OF sae
State Debt in sound, interest bearing
securities, producing not less tnan i4 t,ae
per centum per annum interest VI ~
amount SO invested, or depositeu a..
solvent banks furnishing adequate, a. %,
the said Board, at a rate Of in.er ens
mot less than four per cenLunl pei I'll, a+
mum. Said tax shall be lsVled unit, Ia
all of said bonds shall have oeeh -.
tired, but after the asse s sin I1undred
and Fifty Million Dollars, sald Tax .s slta,l
be reduced to one mill and shau .hel ~
after be reduced two-tenths OF one itIi ~.
for each One Hundred MiI.iga - aid
increase in assessments until the sag
fax shall be reduced to stx-tentns Of
one mill The said tax SHAH constituLe
part of the six mills of taxat.on per
nitted to be levied by the Cohst W t siyn.
In case the present system OF tax e.
ton shall be changed before the SAY
bonds shall have been paid, mere sha -
be levied annually tax sufficient 70
produce gross snd sP fty Of T hes aen Dol
lars to take the place of SAID tax OF
one and two-tenths mills and tts re
ductions. .x.,. ~ tba
THE Board or LlquldalioH " ~ =
State Debt shall have power to settle :; til e
under the conditions and limitations
hereinafter provided, the following
claims of indebtedness made by VAR
Gus persons against the State, to-Wlt.
as The outstanding bonds known az
Raby Bonds excluding all Baby Bondg
fraudulently issued by any official OF
the e., STATE t. ud,tor,. warrants issued for
school, certificates Of Indebtedness uh-
Aa& pf 1894 = t
ls5 Certificates issued under Act 90
of 1880 for costs and fees due TO the
officers Of the State. ,eoo
"a Warrants drawn prior TO 1857
and fundable but not funded into BABY
Bonds.
(5) Warrants drawn after January
OF 1880 against 1878 and previous years.
Provided, however. THAI the o"h e. =
owners OF said claims may prior % TO
January list, 1915, but not thereafter
proceed against the Board OF Liquioa-
zion Of the State Debt BY rule, sole ~
the Parish Of East Baton Rouge to
have the said claims examined and
sIeir validity and the Indebtedness due
thereon determined, which court ~
hereby given Jurisdiction for that pug
This Jurisdiction shall extend not
only 10 the determination Of the mere
legal liability of the State on any OF
ton Of any equitable liability Of the
State thereon and the extent Of such
equitable liability. Appeal shall lie IN
all cases, irrespective Of the amounts
involved on the original record, to the
Supreme Court of the State of Lou1s.f--
ana The defnitive DEGREES Of SAID
courts shall not have the effect OF judy
ments against the State or the Board ,,lr
of Liquidation of the State Debt. me
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. 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.
the sinking Xxi f fund there shall be paid is
N 3ull the amount OF principal and inter-
est due on the bonds of the State, the
face values Of which aggregate Thirty
Seven Thousand an Dol, Dollars and which .hI,a
tee for certain Indian funds
This article as amended, shall be
deemed to be self acting and directly
Of the General Assembly"
Section Q. BE 1t further resolved
by the General Assembly of the State
Of Louisiana two-thirds OF all the
members elected to each house CON
curing, That the official ballot to BIZ
used at said election shall have printed
thereon the words:
For the proposed amendment to Ar
Gicle 40 Of the Constitution or the State
of Louisiana, relative to the refundins
and settlement of the indebtedness OF
che State
And the words:
Against the proposed amendment to
Article 46 of the Constitution Of the
State Of Louisiana. relative to the re-
funding and settlement Of the indebt-
ednesE of the State"
And each elector shall indicate or
gaid ballot, as provided in the General
Election Law Of the State. whether he
votes for or against the proposed amend
ment.
L. E. THOMAS,
Speaker Of the House Of Representatives
THOMAS c.. BARRET.
Lieutenant Governor and President OF
the Senat e.
Approved: July 18th, 1912.
L e. HALL,
Governor of the State Of F,oulsiana
true copy:
ALVIN E. HEBERT,
Secretary Of State.