The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1914-09-12
ACT NO. o78.

! ACT NO. 278.
House Bill No. 537-By Mr.. Jahncke
JOINT RESOLUTION
Proposing an amendment to the Constitu-
ton of the State of Louisiana relative
to the issuance of bonds and the levy
for by the City of New Orleans, to
create lake shore park, to provide
for the administration of the park.
and for the sale Of certain property
acquired in connection Herewith.
Section 1. Be it resolved by the General
Assembly of the State of Louisiana. two
thirds of all the members elected to each
House concurring, That the following
State be submitted to the electors of the
State at the next general election for
representatives in Congress to be holden
Monday in es 1871 toewi ine rs'
Article l. That for the purpose of ac
quiring the front of Lake Pontchartrain
from what is known as West End to
Milneberg. or such part thereof as may be
deemed necessary and advisable. as here
matter set forth. the city of New Orleans
be, and it is hereby, authorized to issue
bonds to an amount not exceeding SO, 000.-
10000, in denominations of 100000 $500. 90.
81, 10000. payable fifty years after date.
with interest at the rate of IL per cent
per annum thereon payable semi annual
tached to said bonds; and to provide for
the payment of the principal and interest
of said bonds. there is hereby levied an
real and personal. in the city of n ew
Orleans. to the amount of sx-tenths of
one mill on the dollar. which shall be col
lected the same as the other taxes due
to the city of New Orleans and be imme-
diately paid to the Board of Liquidation
of the city of New Orleans where same
shall be held separate, in what shall be
Fund.- and to establish and administer
said park. there is hereby created a COM
mission of seven citizens and taxpayers,
male or female. one from ron each Of the
Orleans, who shall be appointed by the
Mayor of the city and confirmed by the
Commission Council as soon az this
pointees shall hold office respectively for
one. two. three. four, five. six and seven
years. and at the expiration of each term.
their successors shall be appointed for
Mayor. in making the first appointments.
shall designate the term of office Of the
respective, appointees. The members Of
officers and shall serve without compen-
sation, but shall be allowed a secretary
and such clerical assistance as may be
necessary, this to be determined. and the
salaries fixed and paid by the Board Of
Liquidation which shall also fix and pay
the necessary amounts for the other exc
penses of said Board out of said tax.
The avals of said tax, in excess of the
amount necessary to pay the semi-annual
interest on said bonds and the expenses
of the Board as above set forth. shall he
invested by said Board of Liquidation for
account of said fund, or they NAV pur-
chase, at not more than par, with said
surplus at any time and retire said bonds.
and If. at any time, the surplus reaches
such an amount that the Board deems +
not advisable to hold same longer, and Il
is not able to purchase said bonds at the
rate above stated, it shall then have the
right to call in any of said bonds, begin
ming with the highest number, but at not
exceeding their market value.
Said bonds shall be sold at par and ac-
crued interest all at one time or partially,
as said Board of Liquidation may deter
mine. The Board herein created shall be
known as the New Orleans Lake Shore
Park Board. and shall have the right to
purchase such property as may be neces-
sary within the limits above specified. to
establish thereon a lake front park, and
to build n sea wall and to reclaim land
from the lake by extending the sea wall
into the lake and filing the space between
same and the present shore line, and to
do all other work necessary to accomplish
the purposes herein provided for, and said
Board shall have the right to sell or
lease any portion of the property acquired
hereunder or reclaimed as may not be
necessary for park purposes. and, in sell
ing same. to prescribe the conditions I'M
der which same shall be held by private
owners, with reference to the character
Of buildings. sidewalks and other improve
ments to be erected thereon. The said