The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1912-08-31
ACT no. ao3.
House Bill No. 4ss. BY Mr. Fontenot
A JOINT REVOLUTION

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A JOINT RESOLUTION
Proposing an amendment to the Com
stitution of the State of Louisiana.
amending Article 46 of the Constitu-
ton of 1898. as amended by Act No.
sos of the Acts Of 1910. ratified by
the people at the November election
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
tax for the payment Of the interest
on said bonds and q 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. and OF certain other
claims against the State.
Section i. Be II resolved by the Gen.
eral Assembly Of the State of Louisiana.
each house concurrfng, That an amend
ment to Article 46 of the CONSTITUTIONS.
Of the State Of Louisiana of 1898. ~
amended by Act No. 303 OF the Acts OF
Louisiana at its session held in the year
1910. ratified by the people at the Mo-
vember election Of 1910, be submitted
to the qualified electors Of the Stats for
gressional election to be held on the
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
purpose Of repelling invasion or for the
suppression of insurrection. Provided,
that for the purpose Of retiring, liQ-
nidating or refunding the present State
lion. One Hundred and Eight Thousand,
Three Hundred Dollars, maturing Jam
uary LIST, 1914, and bearing four PEP
centum per annum interest the Board
Louisiana IL given authority to issue
Eleven Thousand. One Hundred and
Eight new coupon bonds Of the State
Of Louisiana Of One Thousand Dollars
11.1O6. bearing rate OF interest not
exceeding four per centrum per an-
mum. payable eemi-annually and to be
due and paid In fifty years from JAn-
shall be prescribed by the Board of
Liquidation OF the State Debt ana they
shall be signed by the Governor. the
as,d p ana tne IreasI 3f o. the ssas>
bidder at not less than par after three
months Of advertisement by the Board
Of Liquidation Of the State Debt in
New Orleans &c. chic cage and New York.
they may be exchanged at par by the
Board of Liquidation Of the State Deot
tor the bonds due January LIST. 1914.
The excess Of Three Hundred Dollars
pver the bonds authorized by this ar
dcle,, 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.
Tn all other respects not herein Spec
fled. the Board Of Liquidation of the
State uebt IL hereby given full power
and authority to carry out the provi-
sions OF this amendment
beginning with January LIST 1914.
there shall be and there Ia hereby lev
led on all property on which general
state taxes are levied an annual tax
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 I'm
terest due on the indebtedness Of the
State to the Free School Fund. to GEM
mary Fund and the Agricultural and
Mechanical College Fund. to the pay
ment Of the proper expenses Of the
and the residue to the constitution Of
: sinking fund to be applied annually
except As hereinafter provided, 70 1he
1Bschase Of aa3d bonds ~ I'D Bod