Lower coast gazette., 1914-09-26

osed amendment as provided for by the I
;eneral Assembly laws of this State. a
+, IS. L. ID. THOMAS, .
of the House Of Representatives. D
THOMAS. c.: BARRETT, d
Lieutenant Governor and President OF the "
Senate. :
Approved July 8, 1914. !
.- L:E- HALL, I
Governor. Of the State Of Louisiana G
A true copy: {
ALVIN u. HEBERT, &
Secretary. of State. {
ACT NO. 262.
House Bill No. 613. BY Mr.. Generelly
AN ACT
Authorizing the. Board Of Directors OF the
Public schools of. the Parish OF Or-
leans to issue 1.-Two Million Dollars OF
Bonds for the purpose Of acquiring
school sites, constructing school Duila'
.ings anutheir appurtenances in the City
of New Orleans: to provide the terms
and conditions under which said bonds
shall be issued and sold, and the secu.
.rlty for the, payment OF the prlnclpai
and interest thereof to define the du-
ties OF the Board of Liquidation, Cly
Debt, in connection with the issuance
and sale OF said bonds, the payment
of the principal and interest thereon,
..and- the retirement thereof; to prescribe
the duties and obligations OF the City
of New Orleans in connection with the
reimbursement of the Board OF Dlrec-
tors of the, Rublie Schools for the Parlsh
of Orleans by certain annual payments;
and ito define the method and manner
in which the proceeds Of said bonds
shall be employed and ~dlsbursed.
Section l. BE it enacted by the Cen
eral Assembly Of the State of Louisiana,
two-thirds OF. all the members elected to
each house Fconcurring, That subject TO
the ratification OF the people Of the State
of Louisiana, by. an amendment to the
Constitution OF the State. hereinafter
submitted to them, the Board OF Dlrec-
tors of the Pahlie Schools for the Parish
of Orleans, of the State of louisiana, is
hereby authorized and. empowered to issue
bonds not to exceed two Gillion dollars
(S2,QUO UO0.9O} : in amount1. to be dates
january l, 191a,s bearing hVe per cen
|l.AlHaA. peg aununl' interest, payable semi
annually, the principal OF Which shall d
payable in forty. A4O) annual install
menls of fifty thousand dollars ,(SoO,
= VVO) each, payable. on.tthe' first day o
3 January il. each Of the years 1916 to an
including 1855, respectively, as herein
d after 6 tTfotth.s. .
Said bonds. shall be. made payable t
: bearer, and shall be. styled Public Scho6
Bonds, City of New Orleans and Paris
d of Orleans. :
v Said bonds. shall be-. Of the denomins
ton of one thousand dollars each, excel
l. that at the option Of any bidder, to |
indicated in and tas a part OF his Dl
bonds of the denomination of five hui
bred dollars may be issued to such bldd'
If successful. "5
The PRINCIPAL and interest of said bon'
% ., shall be payable in gold. coin of the Unit
" States equal to the present standard
weight and fneness, or same may De e
no pressed in pounds sterling or In tral
N. and at such arbitrary rate OF exchan{
10 ,as. said Board of Liquidation, City Lei
may determine.
ID Said bonds shall be signed.by the pre-
~ dent and secretary, respectively, OF
y. Board of Directors of the Public Scho'
W for the Pariah4of. Orleans ,and shall
nc countersigned,t by the rpresident, or Q
~, of the yice-presldents, and the. secrets
~ of the BoardtS6f liquidation, City De
The interest on said. bonds shall
evidenced by interest coupons attach
&C., thereto bearing the fac-simile signatu
i've of the secretary of the Board of Direct
the Of the Public Schools for the Parish
ltn Orleans and the Secretary OF the Boz
ISL of Liquidation, City Debt, respective
ETY. and shall be payable. on the first days
rye July and January, respectively, in e
eco year; said interest. shall be payable
rye the CITY of New Orleans and in s
-, Other cities as the Board of Liquidat
the City Debt, may determine, upon surf
rm- der and cancellation of the said RESI-
us tive interest coupons, provided, howe
ae- that such cities, shall be designated by
nus . Board of Liquidation, City Debt, and
.ne nounced in the advertisement calling
the competitive bids , and provided, furt
lgnt that the principal of ssaid. bonds shall
payable only in the City of New
'uch leans, State of Louisiana.
airy, Sale! bonds may be registered and
ness leased from registry. under such rules
pro- regulations as the Board of Liquidat
hall City Debt, NAY determine; snail be
the empt from taxation, State, parish
ntal municipal, shall be a legal investr
and for the tutors of. minors and cura
shall Of interdicts; and shall be received
by security for. public deposits of the s
the of Louisiana or any political subdiv
|urer thereof.
City Section 2. Be it further enacted,
said That as soon as constitutional auth
unds for the issuance of said bonds shall
lnds, been obtained. the Board of Dire
way Of the Public Schools for the Parls
pro Orleans, shall, .by.resolution adopte
sal a majority Of the members theret
ten regular s6rs SPECIAL meeting called for
le IL purpose, call upon the Board of Liq
sions ton, City Debt; to advertise for the
of said bonds. When SO called upt
etc, shall be the duty of the Board OF
High dation, City Debt, to advertise said
leans for sale in the official journal OF the
shall of New Orleans and in such other
roads, papers in fnancfal centers as the
n ac- of Liquidation, City Debt, may'detel
yment Said advertisement shall appear IN
prove of said newspapers for thirty (pO)
4, the Immediately preceding the date fxe
igated the receipt of sealed bids or propos'
o any the highest bidder VINO snail nave
ration Piled with the terms and CONDITION
acQue- out by 3the.Board OF Llquiatloh
under Debt, in the advertisement for SAID |
reim- provided that no sale OF said BONDS
Of the be made unless an OF said issue D
it rea- and unless the average price OBTAIN
emit Of the different maturltles shall ,at
emit to equal par and accrued interest !
acQue- entire issue. The board OF Llqen
City Debt, shall. bave- the right to
ETC., any and all bids.
er his Section 8. Be it further enacte
Sc tax That swhsn.f the said bonds shall hay
: SYed L.~adindicafed. 49, hereinafter set 70