The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1912-10-19
ACT no. ao3.
House Bill No. 4ss. BY Mr.. Fontenot
A JOINT RESOLUTION


House Bill No. 4ss. 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.
3O3 OF the Acts Of 1910, ratified by
the people at the November election
of 1910. so as to authorize the Board
issue new bonds to retire or refuno
the State Bonded Indebtedness duo
January LIST. 1914; to provide for 2
tax for the payment OF the interest,"
on said bonds and sinking fund TO
retire the same; to provide for the
payment out Of the said sinking fun1
Of an Indebtedness due by the StsSo 20
the United States. and OF certain other
claims against the State.
Section /. Be II resolved by the Gem
eral Assembly of the State of Louisiana.
two-thirds Of all the members elected 20
each house concurring. That an amend
Of the State Of Louisiana of 1898. az
amended by Act No. 303 Of the Acts OF
the General Assembly Of the State OF
Louisiana at its session held In the year
vember election Of 1910. be submitted
to the qualified electors Of the state Tor
their approval or rejection at the con-
gressional election to be held on the
Monday in November Of 1919, said pro-
posed amendment to read as follows;
Article as. The General Assembly
shall have no power TO contract or 70
or' liability. on behalf Of the state. or
| to issue bonds or other evidences OF
| indebtedness thereof. except Tor the
purpose of repelling invasion or for the
that FOR the purpose Of retiring. liq-
| uidating or refundfng the present state
| Bonded Indebtedness Of Eleven Mil
| lion, One Hundred and Eight Thousand
uarv lst. 1914, and bearing four pc!
centum per annum interest, the Board
| OF Liquidation Of the State Debt o.
| Louisiana is given authority to issu;
E EieSsn new coupon bonds Of the STATE
OF Louisiana Of One Thousand Dollar
each. to be numbered No. / to No
11,1Os,' bearing rate Of interest no
Hu' pasyab Is0 semi Pa ana to
uary LIST, 1914 The form of said bond
shall be prescribed by the Board o
shall be signed by the Governor. tn
Auditor and the Treasurer Of the State
Said bonds shall be sold to the hfghes
bidder at not less than par after tire
months of advertisement by the Boar
| of Liouidation Of the State Debt I
New Orleans. Chicago and New York
, and in case said bonds cannot be sol
they may be exchanged at par Dy III
Board of Liquidation Of the state Deu
| for the bonds due January 1st 1911
The excess OF Three Hundred Dollar
| OF the bonds due January list, ISL
| over the bonds authorized by this q
ticle, shall be paid in cash out of u
| current interest funds Of the Stats
The cost OF engraving and advertiser
| said bonds shall also be paid out I
| the said fund.
: I'm ali other respects not herein spe
fled. the Board of Liquidation of II
D State Debt 10 hereby given full pow
. and authority to carry out the prov
: sfons of this amendment
q beginning with January LIST. 191
: there shall be and there is hereby lie
2 led on all property on which gener
state taxes are levied an annual Z
of one and two-tenths mills. the n
: proceeds of which shall be devoted
!, the payment of the interest DUE
= said bonds. to the payment Of the I
: terest due on the indebtedness Of Z
state to the Free School Fund to Sci
| mary Fund and the Agricultural a
! | Mechanical College Fund. to the pc
:. ment Of the proper expenses Of (
Board Of Liquidation Of the State De-
! and the residue to the constitution
sinking fund to be applied annua
i. except A. hereinafter provided. 70 I
purchase Of sa1d bondo ~ aid BoG
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